Can the injured person take cash now and decide to structure later?
No. The structured settlement must be fully executed at settlement. When injured people require lifetime care and support, they should think about how much money they can afford to lose. Statistics show that one way or another most recipients of cash awards wind up dissipating their funds in a short period. They should be confronted with the prospect that they will be vulnerable and susceptible to losing all or part of their money. Losing settlement funds happens in a variety of ways, including bad investments, loans to friends and relatives, and unwise or frivolous purchases. The flip side of looking at the cash option is choosing a settlement annuity, which provides secure, guaranteed, tax-free settlement funds (for life, if requested). Click here to see the Dissipation Stats.
Related Questions
- Can a person wait as long as six months to decide whether or not to have surgery for prostate cancer that is low Gleason score and low volume?
- Can a person be disqualified if they apply and receive unemployment and later file for Social Security benefits?
- Can the injured person take cash now and decide to structure later?
