So, you've just received a jury verdict or settled your case. What Now?
How long will the money last? How much cash do I need now and how much will I need in the future? What about my public benefits? What about taxes? What are my options?
Answers to these questions and more can be explored with Settlement Partners. Ask about a free, no obligation meeting with a Settlement Planner to develop a program that maximizes your monetary recovery and helps secure your financial future. Statistics show that 90 percent of all large cash awards are gone within five years due to a lack of planning.
A comprehensive plan may include immediate cash, long-term investments, and structured annuities with various tax-free payment streams.
Evaluating your current debt and future expenses will help determine what your immediate cash needs are and how use of the money now will affect your long term financial needs.
Equity investments provide the greatest amount of flexibility by allowing you to move your investments to take advantage of market conditions and provide quick access to cash. As with all things in life the flip side to flexibility in this case is risk – while you may profit from good investments you may suffer from a downturn in the market. What are the tax consequences of my investment choices?
Structured annuities can provide guaranteed lifetime income. The two biggest advantages to using a structured settlement annuity as part of your financial plan are that the tax-free status of the settlement is extended to all the payments generated by the structured annuity. By placing a portion of the settlement proceeds into a structured settlement annuity you are protecting the funds from dissipation due to bad judgment, bad advice, bad habits, or just plain bad luck.
The downside of a structured annuity is the lack of flexibility. Your comprehensive settlement plan may include a balance between immediate cash, equity investments and structured annuities to ensure your financial security.
Just as your attorney didn't use a cookie cutter approach to resolve your case, you shouldn't use a cookie cutter approach to your financial future. You want a good plan to ensure your financial security; Settlement Partners will help you get there. Visit us at www.settlementpartners.com, or contact the personal injury attorneys at Bachus & Schanker, LLC for more information.