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Structured Settlements- When used
Structured settlements are obviously not appropriate in every case. A simple accident where the injured party is and will be fully capable, cases where the term of the treatment or care is not spread out over a long period of time, and where the kind of injuries are not severe would probably not have a structured settlement agreement.
Structured settlements are designed for many other types of cases though including:
- Severe injury where there is long-term treatment requirements, where future medical costs will necessarily be incurred, and to meet living and family expenses.
- Worker’s compensation cases where the injured party may not be able to work or at least work to the earning capacity that they would otherwise have enjoyed.
- Permanent or temporary disabilities that will take extensive recovery time
- Wrongful death cases where a surviving family will need a regular income to replace that of the lost spouse/parent
- Guardianship cases where there are minor children or another person who is judged to be incompetent such as a person with psychological, emotional, or mental handicaps
More on Structured Settlements
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