A structured settlement is a financial agreement where a claim is compensated in installments as opposed to a lump sum. Widely used in liability cases they are often used to reduce or avoid legal costs. If you are making a claim you will need a professional and there are structured settlement lawyers in Indianapolis who can help you.
In many cases a compensation claim will be settled with a lump sum payment o the victim that is decided by the court. With a structured settlement payment the claimant is awarded a monthly sum of money to be paid for an agreed period of time, usually their lifetime. This way of settling cases is often the better option as a regular income is provided rather than a single large sum of money.
Most lawyers would not recommend this type of staggered payment in a small claims case. For serious claims where the victim may need round the clock care and modifications to homes and vehicles it is a better choice. Your lawyer will study your case and make a decision on whether they feel it is worth opting for a structured payment method.
There are many up sides of a settlement payment plan and the biggest one is that no tax will be paid on the money. These payment options also take away the worry of where to invest a large lump sum so that it will give a good return. The monthly payments will give some peace of mind due to the fact that the claimant knows they are getting a reliable and steady flow of money.
Another plus point is that it takes away the pressures of having to appear in a court of law which many people find intimidating. The liable party can also be better off as they will have lower legal bills at the end of the case. When they agree to a settlement plane their lawyer fees and any court costs will be a lot lower.
After your lawyer has agreed the settlement and all of the paperwork has been done there are still a few things to consider. Extra payments are often awarded if the claimant needs to buy items such as wheelchairs or have adaptations made to their home. There may also be periodic increases that will boost the initial agreed sum and you lawyer will explain all of these points to you.
It is important to use a reputable lawyer when you are involved in one of these cases due to the complications that can arise. In an injury case for instance the victim may need lower payments initially and these will need to rise as they get older and require more care. Your lawyer may have to spend many hours calculating the compensation you are seeking and it is essential that they get this right at the beginning to avoid any further litigation.
If you do no know of a reputable lawyer then a little research is needed before you employ one. Many lawyers will charge different fees and some comparisons should be made before making your final decision. When you are looking for a lawyer to represent you there are many to be found in law guides and some will advertise their specialist services on web sites.
In many cases a compensation claim will be settled with a lump sum payment o the victim that is decided by the court. With a structured settlement payment the claimant is awarded a monthly sum of money to be paid for an agreed period of time, usually their lifetime. This way of settling cases is often the better option as a regular income is provided rather than a single large sum of money.
Most lawyers would not recommend this type of staggered payment in a small claims case. For serious claims where the victim may need round the clock care and modifications to homes and vehicles it is a better choice. Your lawyer will study your case and make a decision on whether they feel it is worth opting for a structured payment method.
There are many up sides of a settlement payment plan and the biggest one is that no tax will be paid on the money. These payment options also take away the worry of where to invest a large lump sum so that it will give a good return. The monthly payments will give some peace of mind due to the fact that the claimant knows they are getting a reliable and steady flow of money.
Another plus point is that it takes away the pressures of having to appear in a court of law which many people find intimidating. The liable party can also be better off as they will have lower legal bills at the end of the case. When they agree to a settlement plane their lawyer fees and any court costs will be a lot lower.
After your lawyer has agreed the settlement and all of the paperwork has been done there are still a few things to consider. Extra payments are often awarded if the claimant needs to buy items such as wheelchairs or have adaptations made to their home. There may also be periodic increases that will boost the initial agreed sum and you lawyer will explain all of these points to you.
It is important to use a reputable lawyer when you are involved in one of these cases due to the complications that can arise. In an injury case for instance the victim may need lower payments initially and these will need to rise as they get older and require more care. Your lawyer may have to spend many hours calculating the compensation you are seeking and it is essential that they get this right at the beginning to avoid any further litigation.
If you do no know of a reputable lawyer then a little research is needed before you employ one. Many lawyers will charge different fees and some comparisons should be made before making your final decision. When you are looking for a lawyer to represent you there are many to be found in law guides and some will advertise their specialist services on web sites.
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