Frequently Asked Questions About Structured Settlements
A structured settlement consultant helps you understand your settlement options and develop a plan around your current and future financial needs. At Ringler, consultants work with you and the other professionals involved in your case to evaluate options, explain how structured settlements work, and help create a customized settlement plan.
Instead of receiving your entire settlement as one lump sum, you can choose to receive a portion of your settlement through scheduled payments over time. These payments can be designed around your expected needs, such as ongoing living expenses, medical costs, education, or future financial goals.
A structured settlement can provide predictable, guaranteed payments over a specified period or lifetime, helping you plan for future expenses without relying entirely on market-based investments. Structured settlements are typically funded through annuity contracts issued by life insurance companies, subject to the applicable guarantees and financial strength of the issuing company.
A structured settlement is designed to provide payments according to the terms established when the settlement is created. Because the payment schedule is an important part of the plan, accessing future payments early may not be available or may involve a separate transaction with legal and financial considerations. Your Ringler consultant can explain your options before you make a decision.
A structured settlement can provide a dependable stream of payments and help match settlement funds to future needs. Rather than managing a large lump sum all at once, you can design payments around expenses such as medical care, living costs, education, housing, or retirement.
For qualifying settlements related to physical injury or sickness, structured settlement payments can generally be received free of federal income tax. Tax treatment can depend on the circumstances of the settlement, so you should discuss your individual situation with your legal and tax advisors.
Yes. Structured settlements can be designed with different payment amounts, schedules, and durations. Payments may be arranged monthly, annually, at specific future dates, for a set period, or over a lifetime. Your plan can be built around the financial needs and goals that matter most to you and your family.
It can be helpful to understand all of your options before your settlement is finalized. A Ringler consultant can work with you and the professionals involved in your case to evaluate different settlement strategies and explain how a structured settlement could fit into your overall plan.
