Setting up a Structured Settlement Plan is Not Just for the Short Term

If you're looking for long-term financial security after an accident, it's important to properly negotiate your structured settlement. Many people think they are awarded a structured settlement and don't know that they can negotiate to get the best deal.

While many structured settlements provide a lump sum, can be cashed in, or sold, it's worth remembering that a structured settlement plan is not just for the short term. Let's look at the types of structured settlements available.

Structured Settlement vs. Lump Sum

In most cases, you'll be able to either receive monthly payments for a set amount of time or for the rest of your life or can choose to take a lump sum. The plan you're offered will depend on the severity of your injuries and who was responsible for the accident. It's wise to plan for the long term rather than being tempted to take a lump sum.

A long-term structured settlement allows you to plan for the future. You'll know that you're going to receive a set amount each month that can be used to pay for living expenses, medical bills, and care for your family.

On the other hand, taking a lump sum may be wise as it could allow you to buy your own home, and if there's any money left, you can invest it elsewhere. It can be challenging to calculate the value of a structured settlement, and you should seek professional advice. Take into account the date your payments will start, the amount you'll receive, and how long you'll receive compensation for. This will allow you to work out how much your structured settlement is worth.

Most of the time, receiving money monthly is not convenient for the long term because life happens. Having a plan on how to invest your money responsibility will help you generate wealth. Other ways people use the lump sum of cash include: Paying off high interest debt, Taking care of medical expenses, and purchasing real estate. It's wise to be cautious and aim to make the most of the structured settlement before signing anything.

Black Square Financial Offers Structured Settlement Solutions

If you're looking for long-term financial security, it's important to remember that a structured settlement plan isn't just for the short term. Black Square Financial offers help and advice about setting up a structured settlement plan which will be long-lasting and allow you to live comfortably well into the future.
Contact us today at 1 (866) 356-5165 for personalized, structured settlement solutions. A+ Rated by BBB