A structured settlement is not the answer for everyone. Some victims will prefer and benefit from a lump sum payment. However, there are very specific cases where a structured settlement is ideal for the victim. This generally occurs when the victim is in need of long term or permanent care. When an accident occurs that leaves a person unable to work and earn money for themselves over a long period of time, they will need the funds to care for themselves and whatever medical care is necessary. Whether it is an injury that will take a very long time from which to recover or a permanent disability that will prevent the victim from working for the duration of his life, a structured settlement is ideal in these situations.
For anyone who has any type of guardianship, a structured settlement is also a perfect solution. For example, if someone dies as a result of an accident through no fault of his own, a settlement may be awarded. However, the settlement is going to the victim's family as opposed to the victim. The money may be used for funeral expenses and for the care of the surviving family, especially if the victim was the provider of the family's income. Spouses and children are generally the beneficiaries of a structured settlement. Minor children can especially take advantage of the benefits of a structured settlement. Their housing, food and other every day expenses will be ensured. Plus, very often their education and college expenses will also be taken care of so they can lead a productive life even without the assistance of their loved one.
For anyone who has any type of guardianship, a structured settlement is also a perfect solution. For example, if someone dies as a result of an accident through no fault of his own, a settlement may be awarded. However, the settlement is going to the victim's family as opposed to the victim. The money may be used for funeral expenses and for the care of the surviving family, especially if the victim was the provider of the family's income. Spouses and children are generally the beneficiaries of a structured settlement. Minor children can especially take advantage of the benefits of a structured settlement. Their housing, food and other every day expenses will be ensured. Plus, very often their education and college expenses will also be taken care of so they can lead a productive life even without the assistance of their loved one.
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Whether it is an injury that will take a very long time from which to recover or a permanent disability that will prevent the victim from working for the duration of his life, a structured settlement is ideal in these situations lump sum settlements
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