123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Legal >> View Article

Is Settlement Planning Right For You?

Profile Picture
By Author: Marc Blumenthal
Total Articles: 11
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

What Is Settlement Planning?
Settlement planning helps people preserve the funds received through a personal injury judgment or settlement or via inheritance. This multi-disciplinary approach combines services such as special needs, estate, and financial planning to establish a structure for the proper management of the funds. Depending on the specific needs of the settlement recipient, a settlement plan may include establishing trusts, setting up structured payments, and making investments.

Maintaining Public Assistance Eligibility
A large settlement may affect people’s eligibility for government benefits; however, setting up the right tools may allow them to still qualify for the assistance they need. The funds received from personal injury settlements or inheritances may be helpful, but they do not always cover all the expenses of those who suffer from disabling medical conditions or who otherwise lack the mental or physical capacity to provide for themselves. Therefore, they may rely on government benefits, such as Medicaid. A settlement planner may help people consider a variety of options, such as ...
... establishing a special needs trust, so their settlements do not count against them when determining financial eligibility for Medicaid and other government assistance benefits.

Providing for Lifetime Needs
Preparing for the management of their settlements may help people ensure their funds last through their lifetimes. Depending on the severity and effects of their injuries, people who receive settlement payouts may require lifelong care. Setting up certain structures through settlement planning may help them make sure their settlement money works for them. For example, opting for a structured settlement may give people the regular income to cover expenses like their housing costs and medical bills, while keeping them from spending their funds faster than they intend.

Meeting Financial Goals
Through careful planning, people may use settlement funds to become more financially sound. A settlement planner may help settlement recipients consider guaranteed-income and other investment options to help their settlement funds grow.

Total Views: 211Word Count: 308See All articles From Author

Add Comment

Legal Articles

1. Protecting Fathers' Rights In A Divorce Case: Why You Need Professional Legal Support
Author: Stange Law Firm, PC

2. Brentwood Law Firms: Your Partners In Legal Success
Author: Rainer Hughes

3. A Comprehensive Guide To New Jersey Personal Injury Cases
Author: ArnulfoJarvis

4. Empowering Victims Of Motor Vehicle Accidents In New Jersey
Author: ArnulfoJarvis

5. Challenges And Solutions: Divorce Proceedings In Dubai
Author: Diana Hamade

6. Understand The Iatf 16949:2016 Standard For The Automotive Sector
Author: URS Certification

7. Cyber Crime Lawyer In Laxmi Nagar, Delhi: Advocate Deepak
Author: Advocate Deepak

8. The Importance Of Cyber Crime Lawyer In Dwarka, Delhi: Advocate Deepak
Author: Advocate Deepak

9. Unraveling The Truth: The Role Of Cyber Crime Lawyers In Safeguarding Pari Chowk, Noida
Author: Advocate Deepak

10. Can Deaf People Drive?
Author: Robert Harisson

11. Cyber Crime Lawyer In South Extension Delhi Advocate Deepak: Safeguarding Your Digital World
Author: Advocate Deepak

12. Cyber Crime Lawyer In Nirman Vihar, Delhi: Advocate Deepak
Author: Advocate Deepak

13. Reliable Legal Support Services In Austin, Texas
Author: ramcivilprocessservices

14. Cyber Crime Lawyer In Faridabad: Advocate Deepak
Author: Advocate Deepak

15. Your Guide To Finding The Best Dui Lawyer In Brampton
Author: krish

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: