Purchasing Structured Settlements

On the Flip-Side - Brokers Assist With Initial Transactions

During the initial process of obtaining a structured settlement, a broker can obtain quotes and assist in purchasing structured settlements from highly-rated annuity companies. They will work closely with all parties involved and will have your best interests in mind. If the defense makes a structured settlement offer, it is important to understand the cost, or present value of the future payments in order to compare it with an immediate lump sum payment. Often, the plaintiff's attorney alone, cannot decipher this. Additionally, he or she may want to make a counteroffer, either increasing the payments or changing the timing to provide for the known needs of their client. A broker can help the plaintiff's attorney do just that as well as guide them through the entire process.

In order to obtain the best results in a structured settlement case, it is important to involve an advisor, generally a broker well versed in the field, as early as possible in the negotiations. Once an agreement is reached to settle for cash, it is generally too late to obtain tax and other advantages that can be reached in structured settlements. The broker will search for different markets in order to optimize the annuity for the client, and additionally can help find markets to structure attorney fees as well. They can help design a structured settlement proposal that will take into consideration the unique needs of the individual. In either case, brokers in general, if experienced and licensed, can be a great asset!

 

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