Legal Question in Personal Injury in California
Questions about a structured settlement
I have a structured settlement and I am interested in receiving either a portion or all of the money now. What are my options? Do i have to pay an enormous tax if I receive the lump sum?
Asked on 7/10/06, 1:55 pm
2 Answers from Attorneys
Lyle Johnson
Bedi and Johnson Attorneys at Law
Re: Questions about a structured settlement
Those companies that buy structured settlements pay pennies on the dollar. There was one case where the buyer paid 15 cents on the dollar. If the income from settlement is income then you would have all of that income in one year.
Answered on 7/11/06, 11:14 pm
Jonathan Stein
Law Offices of Jonathan G. Stein
Re: Questions about a structured settlement
You could find a company that will buy the settlement. But, in my opinion, DO NOT SELL THE SETTLEMENT. You will come out on the losing end by a lot.
Answered on 7/10/06, 10:40 pm
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