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

Is Settlement Planning Right For You?

Profile Picture
By Author: Marc Blumenthal
Total Articles: 13
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: 34Word Count: 308See All articles From Author

Add Comment

Legal Articles

1. Circumstances Under Which You Need A Professional Child Custody Attorney
Author: JOS Family Law

2. Professional Help With Do It Yourself Divorces Documentation
Author: CSR Disability

3. How To Use Trust Attorney Effectively When Estate Planning?
Author: smith clea

4. How To Find A Good Trust Attorney Creating Living Trust?
Author: smith clea

5. How To Find The Best Free Authority Sources On Revocable Vs Irrevocable Trust.
Author: smith clea

6. How To Filter And Find Online Information About Will Vs Trust Issues
Author: smith clea

7. How To Find Information On Will Vs Trust Issues Online
Author: smith clea

8. Will Vs Trust- Why The Right Choice Is So Important?
Author: smith clea

9. Why Anti-doping India Is Important?
Author: Krida Legal

10. Why Should You Consider Hiring Compassionate Divorce Lawyers In Austin?
Author: Marcus McGowan

11. How Differently Workers Compensation Lawyer Makes You Benefited?
Author: Marcus McGowan

12. Kentucky Defective Products Attorney Holds Drug Companies Liable
Author: Hendy Johnson

13. About Legal Aid Law Firm Saket Delhi
Author: Sony Das

14. What You Should Know About Truck Crash Witness Statements
Author: Cogan & Power, P.C.

15. Criminal Defense Attorney Brooklyn Ny Holds The Responsibility To Prove The Truth
Author: Steveson

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