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Is taking a structured settlement wise in personal injury claims?

Anytime a legal solution is right for you, it is never a bad idea. However, it is crucial to make sure that it is indeed the right choice. A key point in such cases is never to rush into your decision. Unless you are approaching a critical deadline, take plenty of time to review your options and weigh their risks and against their benefits.

Every personal injury claim in Tennessee is different, but the one thing they have in common is the availability of legal remedies for victims. Deciding whether to take your case to trial or to settle it out of court is a major decision. While both solutions have advantages and disadvantages, it is ultimately up to victims to identify which choice is the right choice. Advice from an experienced legal professional can help victims make the best choice.

Structured settlements can be especially beneficial to victims of serious or catastrophic injuries because they provide a source of income over a fixed period. As with all legal decisions, it is good idea to seek a professional opinion specific to your unique circumstances before making your decision.

One reason victims choose to settle a claim is that it provides them with a quicker path to closure. Another benefit of accepting a structured settlement is the ability to tailor the options. For example, it is possible to receive both a lump sum payment and payments made over time. This allows victims to pay for immediate injury expenses while banking additional payments for future use.

Additional advantages of accepting a structured settlement include tax benefits, flexibility of use and the option to dedicate a portion of your settlement to advances in medicine. The latter is beneficial in case a treatment for your injury is developed in the future.

Source: FindLaw, "Structured Settlements: Pros and Cons," accessed March 06, 2018

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