A common misconception about structured settlements among plaintiffs and attorneys alike is that there are ONLY two choices: (1) a structured settlement or (2) cash. Nothing could be further from the truth. Another common misconception is that if you agree to a structured settlement that it must be all of your share, after the anticipated attorney fees.
There are a whole range of solutions that include those two options, variations of those options, blends of those options and/or incorporate other solutions (with additional financial instruments and products).
A structured settlement may, or may not, be part of the optimal solution for you, but it is something that you should be informed about and something that should at least be considered. Lawyers should document their files carefully. Once a release has been signed, and the money is in the law firm’s IOLTA account, the opportunity is gone forever.
A structured settlement should not be dismissed immediately solely on the above misconception.
Speak to an experienced structured settlement and/or settlement planning expert for guidance.
Leave a Reply