A liability insurance claim gets initiated after most accidents. So the insurance company will pay the innocent claimant a sum of money.
When the injured person has medical bills and other immediate needs for a significant amount of money, the structured settlement may not be workable.
Of special interest, there will be some financial loss on the part of the claimant. But they will have a full settlement instead of drawn-out and dividend payments. And this can be an attractive advantage for some injury victims who need cash now. Structured settlement laws vary from state to state.
The critical issue is whether or not the third-party buyer is offering a fair value. So the structured settlement recipient should consult a personal injury legal professional. But they need one experienced in contract law.
Information necessary for a third-party buyer structured settlement includes:
Southern California residents may consult Ehline Law Firm when considering a third-party structured settlement lump sum. You can reach our law firm at (213) 596-9642. Calling may help determine if the lump sum agreement is in your best interest.
Michael is a managing partner at the nationwide Ehline Law Firm, Personal Injury Attorneys, APLC. He’s an inactive Marine and became a lawyer in the California State Bar Law Office Study Program, later receiving his J.D. from UWLA School of Law. Michael has won some of the world’s largest motorcycle accident settlements.