A structured settlement is a settlement, arranged at least in part, to make installment payments over a period of time instead of one lump sum.
While structured settlements are not always a good idea, in certain circumstances they provide a stream of income guaranteed for a certain period of time.
In New York State Workers’ Compensation claims, structured settlements can sometimes be used to cover the future medical portion of the claim. Because laws now require Medicare set-aside documentation in some cases, funding the medical portion of a Workers’ Compensation settlement can be accomplished with the use of a structured settlement.
If you have questions regarding your Workers’ Compensation settlement and whether or not a structured settlement arrangement will work for you, feel free to contact our office.