Buy Structured Settlements, If You Are A Personal Injury Victim

In fact, buying a structured settlement, you have three major advantages. Perhaps the greater the tax benefit, but by buying the settlements that will protect your money in the future, since the amounts are paid monthly. The third advantage is that by buying structured settlements with more opportunities, in conjunction with the planning of other assets to get Medicaid.  

1. Buy structured settlements, because of the benefits of their taxes. 
The tax benefits are not, of course, the only reason to buy the colonies, but is a real benefit, the lump sum can not offer. If you go for settlement, federal taxes are avoided. Note that the colonies of lost wages are subject to taxes. 
2. You can avoid wasting money. 
Companies that sell the claims, which can compensate the plaintiff for injuries, medical care and future lost wages. But too often, the colonies can protect minors, unable or unsophisticated 
The fact is that not all people are able to manage their assets and plan for the future use of their money. For them, the colonies are a godsend, because they receive an agreed amount each month and can not borrow on the program. If the victim is a minor injury and his parents can not make financial plans, it is advisable to purchase the colonies to protect the future economic security. 
3. The future health care. 
Many victims of personal injury settlements are buying to secure funds for future medical care. In some cases, better benefits can be achieved in a trust with special needs. The idea of ​​a special needs trust is that the plaintiff may obtain the benefits of the agreement, without the disqualification of Medicaid. It is best to consult a lawyer or planner planning needs of disabled people. 
4. Benefits of the plaintiff. 
The main thing is, of course, the financial needs of the applicant but the applicant who is wise, if you go through all the things that come with the clearance decision. The main economic benefit is the tax benefit. However, the colonies are also good tools to prevent waste, fraud and mismanagement of funds. Also make sure that special needs trust is the best option.