Structured settlements are financial arrangements that provide periodic payments to individuals who have been awarded damages in personal injury or wrongful death lawsuits. These payments are typically established through negotiations between the plaintiff and the defendant (or their insurance company) and are often structured to provide a reliable source of income over an extended period, sometimes spanning decades. Had a great talk with Jodie Lamb of Arcadia Settlements Group about the importance of structured settlements.
Here are some key takeaways:
- One of the primary benefits of structured settlements is the assurance of long-term financial stability.
- Unlike lump-sum payments, which may tempt recipients to indulge in impulsive spending or risky investments, structured settlements promote disciplined financial management.
- Structured settlements offer a level of predictability and security that is unmatched by lump-sum payments.
- Structured settlements often come with significant tax advantages for recipients. Under current tax laws, the income generated from structured settlements may be tax-free or subject to favorable tax treatment, providing recipients with additional financial benefits over time.
- Structured settlements can be customized to accommodate the unique needs and circumstances of recipients.
**Recommended book by Jodie: Hashtag Net worth
To learn more about Jodie and her team, visit them at teamarcadia.com
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