Are you looking to sell or Purchase a Structured Settlement

In this article I will be writing about structured settlements, and where you can go to get more information about them.  So what is a structured settlement?

A structured settlement is a financial or insurance arrangement, including periodic payments, that a claimant accepts to resolve a personal injury tort claim or to compromise a statutory periodic payment obligation. Structured settlements were first utilized in Canada and the United States during the 1970s as an alternative to lump sum settlements. Structured settlements are now part of the statutory tort law of several common law countries including Australia, Canada, England and the United States. Although some uniformity exists, each of these countries has its own definitions, rules and standards for structured settlements. Structured settlements may include income tax and spendthrift requirements as well as benefits. Structured settlement payments are sometimes called “periodic payments.” A structured settlement incorporated into a trial judgment is called a “periodic payment judgment."

So a structured settlement just means you will be getting paid in payments over a period of time rather than receiving a lump sum.  You may receive a structured settlement for a variety of things, from and accident where you are being paid by an insurance company, or you may have won the lottery. So what can you do with your structured settlement to assure that it last longer.  I don't know about you, but I wouldn't mind retiring a little early.  So lets get to the the good stuff.  Did you know you can sell your structured settlement?  Some times you can, sometimes you cannot.

In order to purchase structured settlements, Annuitants must first obtain court approval. Nearly two-thirds of U.S. states prohibit the sale or transfer of annuity payments.
Annuities are structured to provide income to injured parties to pay for ongoing medical expenses or replace lost income. Therefore, Annuitants must provide compelling evidence to a judge showing that selling forthcoming payments will improve their quality of life.

If you are able to an do decide to sell you structured settlement.  Be sure to shop around, there are many options so don't just go with the first one you find.  There can be tax penalties, and it may not actually be economical for you to sell part or all of your structured settlement.  If you do sell your settlement you should consult an attorney first and have them review your offers with you to help you decide which one if any is you best option. 

If you are looking for an attorney to help you with your structured settlement or for some one to purchase your structured settlement there are many places you can find them.  You might see a few advertised on this site, or you have may have seen them advertised on television.  You may also want to check with the National Structured Settlements Trade Association at nssta.com before you make your final decision.  What ever you do just remember it is your money, and your decision. So choose wisely.