Do not plan out your structured settlement deals without consulting a certified structured settlement consultant. With a lot of experience these certified structured settlement consultants will be your best bet in getting the right deal for yourself that will work best for you. Irrespective of their client’s circumstances or needs, these professionals generally crack the best deal for them, suiting their budget. It is however important before consulting a professional to decide if you wish for structured plans over a period of time or a lump-sum settlement.
Generally in compensation cases especially with ones that have to do with an accident, people prefer a structured settlement plan. The structured plan is like a monthly income in contrast to a lump-sum settlement that works out to be a full and final payment with a single deposit. Generally a certified structure settlement consultant will advise to go for a structured plan since such monthly deposits are normally tax free. Another advantage is that since the money is received in installments, it doesn’t disappear all at once. In case of minors this is the most suitable option. This is because minors are usually more spendthrift if they have a lot of money all of a sudden and a structured settlement helps to curb this unnecessary spending.
The certified structured consultant after studying your case and history will first need to prepare an estimate of immediate needs and the right monthly payouts over a specified period of time. Ensure that you get the right person to help you plan your settlement issues by carrying a careful study of the different consultants available before hiring one. Be warned that many consultants have tied up with insurance companies and may work out a shoddy deal for you as per a prior arrangement with these companies, so choose your consultant with care.
Ensure you have a good working relationship with the consultant you hire. Go through a lot of agencies and their previous cases before finalizing your consultant. The right certified structured settlement consultant will be able to help you in this crucial point without letting personal interests conflict with your needs.