No matter how familiar you might with structured settlement options in Hackensack, Cherry Hill, Roseland, Fort Lee, Jersey City, or the surrounding areas, the structured settlement payments are unique for each case. Our experienced team at Settlement Funding Associates has handled hundreds of structured settlement payments and can help to advise you on what options are the best to request for the circumstances.
There are a number of options that you might want to request for your clients for their structured settlement payments, and we can help to provide the information behind each option. Call us today to learn more.
Why Have Different Payments
Often, people outside of the case think that when a company agrees to a structured settlement that it provides them a way to avoid having to pay a lump sum payment. This isn’t the case as the defendant, usually a larger organization, needs to fully fund an annuity in order for the structured settlement to pay out the payments agreed to. The payments really are a function of what is requested for the plaintiff.
While it can be exciting to receive a lump sum payment, the truth is that for most people, they would end up better off with a series of lower amount payments over years rather than a single lump payment. This is because the majority of people would end up spending it too quickly, and it wouldn’t last as long as planned with the case. As a result, structured settlement payments are often done over the course of years, sometimes 20 years or even longer depending on the full amount of the award.
We have seen all sorts of payment structures, including ones that offer an increasing amount paid yearly. This is often to help combat inflation where each year the payment increases. And rather than a single yearly payment, it could be done quarterly, and even these quarterly payments can be in increasing amounts. In some unusual cases, the payments might decrease over time because more money is needed earlier to help deal with specific issues, and the long-term payments can go down as the amount of money needed in later years isn’t as severe.
Structured Settlement Payments for Your Clients
You want to do right by your clients in Hackensack, Cherry Hill, Roseland, Fort Lee, Jersey City, and the surrounding areas, and that oftentimes means bringing in appropriate help to ensure that things get handled right. Our team at Settlement Funding Associates can help you put together the proposed structured settlement payments for you and your clients based on the case information. We’ve done hundreds of these cases, and can put together a solid plan for you as well. Call us today to learn more.