A settlement planner specializes in:

Expert advice: We can provide expert advice on how to structure a settlement to suit your financial needs and goals.

Maximizing value: We can help ensure that a settlement is structured in a way that maximizes its value, taking into account tax implications, inflation, and other factors.

Customized plan: We can work with the recipient to create a customized plan that fits your unique circumstances and financial goals.

Compliance with regulations: We can ensure that the settlement meets all legal and documentation requirements and that it complies with applicable regulations.

Ease of process: We can handle the logistics and administrative tasks associated with a settlement, making the process easier for you.

Settlement planning focuses on maximizing the distribution of funds from a legal settlement, while regular financial planning is focused on creating a comprehensive financial plan for an individual or family.

Settlement planning typically includes immediate needs, debt reduction, tax planning, and long-term financial security, while regular financial planning covers a broader range of topics such as budgeting, investment planning, retirement planning, and estate planning. Settlement planning is usually a one-time process, whereas regular financial planning is ongoing. Settlement planning leads into financial planning.

A settlement planner has expertise in the financial aspects of a legal settlement, including:

1. Tax planning: To minimize tax implications and maximize tax-free recovery.

2. Asset protection: To preserve and protect the settlement funds for the future.

3. Investment planning: To optimize the investment of settlement funds to meet the individual's financial goals.

4. Estate planning: To ensure that settlement funds are distributed according to the individual's wishes after death.

5. Special needs planning: To provide for individuals with special needs, such as a trust.

Hiring Prindable Settlements can help ensure that the settlement funds are properly managed and utilized to meet the individual's long-term financial needs and goals.

Yes, we can absolutely still help you even if you already have a financial advisor. We focus specifically on settlement planning, whereas a financial advisor may have a broader focus that includes other areas of financial planning. Often, a financial planner may not be well versed in the unique nature and circumstances of a physical injury settlement and the money therefrom.

We can work with your financial advisor to ensure that your settlement planning goals are incorporated into your overall financial plan. We can provide specialized expertise and guidance on the best structured settlement options, and we can help you understand the tax implications and other considerations involved in settlement planning.

Working with both a financial advisor and a settlement planner can help ensure that your settlement planning goals are integrated into your overall financial plan, and that you receive the most comprehensive and effective guidance for your specific needs and goals.

It is often too late to select a structured settlement after the settlement agreement has been completed. The choice to employ a structured settlement must be taken prior to the agreement being concluded. Plaintiff attorneys wishing to defer some or all of their contingency fees must also do so before the settlement is finalized. The settlement agreement should include all the necessary language to enable the claimant and the plaintiff attorney to take full advantage of the tax advantages of the settlement.

If you have already received your settlement funds, contact us to talk about your other options.

The earlier the better! This allows the settlement planner to review the settlement agreement and provide guidance on the best options for structuring the settlement proceeds, as well as help you understand the tax implications and other considerations involved in settlement planning.

Working with us early in the settlement process can also help ensure that the most appropriate structured settlement options are selected, and that the settlement proceeds are structured in a way that meets your specific needs and goals.

If a settlement has already been received and distributed, it may still be possible to work with us to consider a structured settlement, though some other options may not be available. We can provide guidance on the options that may be available in your specific circumstances.

Lawsuit settlements involving minor claimants have several special considerations, including:

1. Court Approval: Settlements involving minors typically require court approval to ensure that the settlement is in the best interest of the child.

2. Structured Settlement: It may be necessary to set up a structured settlement to provide tax-free payments to the minor over a period of time. Many courts insist on guaranteed investments for minors.

3. Guardianship: A guardian may be appointed to decide on the settlement proceeds on behalf of the minor.

4. Investment Planning: The settlement proceeds must be invested in a way that balances growth potential with preservation of capital, taking into account the minor's age and financial needs. Many courts do not like to take risks with minors’ money.

5. Special Needs Planning: If the minor has special needs, it may be necessary to set up a special needs trust to provide for their care while preserving their eligibility for government benefits.

6. Tax Planning: It is important to consider the tax implications of the settlement – if the settlement is taxable – and to structure it in a tax-efficient manner.

We can provide you with expert guidance and help you make informed decisions to ensure that your child's settlement funds are managed and utilized in a way that meets their long-term financial needs and goals. Contact us for a free consultation.

Settlement planning decisions can affect government benefits. Some government benefits, such as Supplemental Security Income (SSI) and Medicaid, are based on financial need, and may be affected if a settlement results in an increase in the recipient's assets or income.

We can help ensure that the settlement proceeds are structured in a way that meets your needs, while also preserving your eligibility for government benefits if that makes the most sense. This may involve using special needs trusts, structured settlement annuities, or other financial products that are specifically designed to protect government benefits.

We can analyze your government benefits and the special circumstances surrounding your case, and the specific rules and regulations that may apply to your situation to help you make informed decisions about the best course of action.

A structured settlement is a type of financial agreement in which a plaintiff agrees to receive their settlement award over a period of time, instead of a lump sum payment. This type of arrangement is often used in personal injury lawsuits. The payments are made by a highly-rated insurance company and are guaranteed for a set number of years or for the recipient's lifetime.

Instead of receiving the payments in a lump sum, the plaintiff chooses to receive the payments over a set period of time, often several years or even decades. This allows the plaintiff to receive a guaranteed stream of income and helps ensure financial stability.

The benefits of a structured settlement over a cash lump sum are:

1. Guaranteed income: A structured settlement provides a guaranteed stream of income for a set period of time, reducing the risk of spending the money too quickly.

2. Tax advantage: Structured settlement payments are tax-free, including the interest gained.

3. Financial stability: A structured settlement can help ensure long-term financial stability, allowing the recipient to budget and plan for the future.

4. Avoidance of poor investment decisions: Receiving a lump sum may lead to poor investment decisions, while a structured settlement eliminates the need for investment decisions.

5. Peace of mind: A structured settlement provides the peace of mind that comes with a guaranteed source of income for a set period of time, reducing financial stress.

A good candidate for a structured settlement is someone who has:

1. A physical injury lawsuit: Structured settlements are most commonly used in physical injury cases.

2. Long-term financial needs: If the recipient has long-term financial needs, a structured settlement can provide a guaranteed source of income for a set period of time.

3. Difficulty managing a lump sum: If the recipient has difficulty managing a large sum of money, a structured settlement can provide a predictable source of income.

4. A desire to avoid poor investment decisions: If the recipient is not experienced in investing or has a history of making poor investment decisions, a structured settlement eliminates the need for investment decisions.

5. A desire for stability: A structured settlement can provide peace of mind and reduce financial stress, making it a good option for individuals who value stability and security.

If the recipient of a structured settlement annuity dies, the remaining payments will typically pass to specifically designated beneficiaries. If no beneficiary was designated, the payments will become part of the recipient's estate and be distributed according to their will or state laws. This allows the designated beneficiaries to continue receiving the structured settlement payments even after the recipient has passed away.