Would you sell off your paycheck that you earn each week?
If no, then why sell off your rights to your structured settlement, if it is a primary source of income? Why is your financial planner advising you to sell your structured settlement payment rights?
With a structured settlement tort victims can design their own "paycheck". A structured settlement can be designed in any number of ways and can have multiple payment streams. Here are examples of the types of structured settlement payments available to tort victims.
As part of a long term financial plan a structured settlement provides safety and, unlike a paycheck you might earn from work, structured settlement paychecks are exempt from income taxes to tort victims if for payment of damages on account of physical injury or physical sickness and properly set up.
Many financial planners do not have the extensive practical experience or the proper foundation for advising tort victims. Question the recommendations of any financial planner or wealth management expert who recommends that you sell the rights to your structured settlement "paycheck". Be sure to ask for a written disclosure of compensation up front to check for potential conflicts of interest.
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