If you are going to receive money from your personal injury lawsuit, you have several settlement planning options for the money. By selecting from the following options you can begin to create a plan for ensuring your financial future.
Option 1: Receiving it in a single lump sum of cash and investing it in taxable financial products
Option 2: A tax-free structured settlement annuity payable over time
Option 3: Having the money placed into a trust and professionally managed for you
Option 4: Any combination of the first three options
Through the use of these different financial options you have the opportunity to plan for your future medical needs, income replacement, payment of debt or loans, mortgages, retirement, funding of a life insurance policy and a variety of other needs that you or your loved ones may consider important to address. You can even plan for other family members by setting aside part of your settlement money for their future needs such as higher education. The options are endless and can be tailored to meet your needs as well as your family’s needs.