Articles Posted in Structured Settlement

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There are few moments in life where a person receives a million dollar lump sum of money. Here are but a few which come to mind.

A good investment.

Winning the lottery.

A very wealthy family member who left you a sizable inheritance.

Cashing in stock options which have appreciated over the years.

Sale of a real estate asset.

A successful personal injury claim.

In all of these scenarios, except for ONE; the money is yours to use as you please; notwithstanding applicable taxes.

The lone exception are the personal injury cases. There is fine print behind those million and multi million dollar settlements which we would like to share with you today.

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To structure, or not to structure? That is the question for the purpose of this entry in the Toronto Injury Lawyer Blog. Sometimes, whether to enter in to a structured settlement is not an option; rather a requirement. Other time, you may have a decision to structure or not.

WHAT IS A STRUCTURED SETTLEMENT?

A structured settlement is a negotiated financial arrangement whereby an injured accident victim agrees to accept a usually large lump sum of money in the form of a settlement from a personal injury claim. That lump sum is then placed in to an interest bearing financial instrument (called a structure) which gets paid out in periodic payments over a long period of time to the Plaintiff.

Instead of receiving one large lump sum at one time, the Plaintiff instead receives periodic payments (usually every month) set over a schedule which normally lasts a life time.

The monthly payments, administration and maintenance of the structure are not charged to the person receiving the structure, unless otherwise specified.

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