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In contrast to interest thatís acquired through CDs or Municipal Bonds, monies that are accrued through a structured settlement are not factored into calculation of Social Security benefits. That translates into a greater monthly benefit for those who are collecting payments through Social Security Department, which can make a huge different to those who are on such a fixed income.
Depending upon level of disability, structure settlements can be set up to last for lifetime of recipient. These payments are guaranteed and can be customized to be made on specific dates or increased on a yearly basis in order to offset cost of living, as well as factoring in any other special needs that may become apparent.
For those who suffer from credit problems or lose assets as result of a divorce, monies that are siphoned through a structured settlement cannot be considered as part of financial scenario of individual. Creditors are not allowed to claim any portion of funds, and a structured settlement is not considered common property.
In addition to these, there are a number of other benefits that are intrinsic to a structured settlement, only some of which are geared toward plaintiff. Benefits are also enjoyed by attorneys and financial institutions that back such settlements. For further information, speak with your personal legal representative or consult one of major online search engines.
Josh Murray is a contributing writer to http://www.structuredsettlementinfo.info, a site that provides news and information on structured settlements.