Fort Lee, NJ -- (ReleaseWire) -- 05/19/2022 --Structured settlements are beneficial in various situations, including personal injury litigation, mass torts, and more. They frequently assist in hastening the completion of litigation. A structured settlement offers a steady income stream for the rest of life, with built-in budgeting and minimal taxations.
Structured settlement annuity in Cherry Hill and Fort Lee, New Jersey, can also be employed in non-physical injury settlements to provide the clients with tax-deferred income rather than a lump sum payout that is fully taxed right away.
The structured settlements experts at Settlement Funding Associates can advise clients regarding different structured settlement annuity options, which include: fixed-indexed annuities, single premium immediate annuities, deferred income annuities, and multiple-year guarantee agreements.
Depending on the requirement, one can choose annuity options. For example, life with period certain annuity provides equal payments to the plaintiffs throughout their lifetime with a guaranteed period. A period certain annuity provides equal amounts for a guaranteed period. One may opt for a guaranteed lump sum payment to receive a payment on a specific date. Similarly, joint and survivor annuity provides the plaintiff and spouse with equal benefits for as long as they both live, with payments to the survivor continuing at 100%.
Before finalizing the settlement agreement, the choice to utilize a structured settlement must be made. The claimant relieves the defendant (or insurer) from the obligation after both parties have agreed on the structured settlement terms.
The settlement proceeds are subsequently paid to a third-party assignment firm, which takes obligation and acquires an annuity from a structured settlement carrier. The carrier makes a series of recurring payments depending on a previously agreed-upon date and amount.
To avoid constructive receipt, the Defendant or its liability carrier must fund the structured settlement in accordance with the Internal Revenue Codes, which allows an injured party to receive future periodic payments tax-free. The aggrieved parties or their attorney cannot fund the structured settlement.
For more information on wrongful death structured settlements in Cherry Hill and Fort Lee, New Jersey, visit https://www.settlementfundingassociates.com/.
Call 201-585-9231 for details.
About Settlement Funding Associates
As one of the leading establishments, Settlement Funding Associates has offered unique Structured Settlement solutions that fit both immediate demand and long-term financial goals of the clients. Settlement Funding Associates has been a trusted brand in the Structured Settlement sector for over 35 years, earning a reputation for excellent service, quality, and speed.
Settlement Funding Associates Specializes in Structured Settlement Annuity in Cherry Hill and Fort Lee, New Jersey
To get the benefits of structured settlement annuity in Cherry Hill and Fort Lee, New Jersey, look no further than Settlement Funding Associates.