Car Accident Attorney | Tampa, St Petersburg, Sarasota, Orlando, Brandon, Lakeland

Each car accident attorney at Kennedy Law Group has experience with what are known as structured settlements. In the world of personal injury, structured settlements are intended to benefit both plaintiffs and defendants: plaintiffs because they provide a predicable stream of income over time, and defendants because they help avoid potentially ruinous lump-sum payments. A structured settlement is essentially an annuity that transforms a cash windfall into a guaranteed periodic distribution, which for many injured people is actually a blessing in disguise. While $1 million now certainly sounds more enticing than $50,000 per year for the next 20 years, in most cases the structured settlement option is far more advantageous.

If you’ve been injured in a car wreck, be sure to ask the attorneys at Kennedy Law Group about the many advantages of a structured settlement, including:

Lower taxes – if done correctly, money that is disbursed through a structured settlement can be non-taxable
Security – the risk of losing money through bad investments or poor money management skills is reduced
Attorneys’ fees – the cost of paying a car accident attorney to help negotiate a structured settlement agreement is typically much lower than what it costs to go court
Flexibility – structured settlements can be structured in such as way to benefit the recipient as much as possible, depending on his or her age and expected financial obligations such as paying for college or needing money for retirement

For more information about structured settlements, contact Kennedy Law Group. A car accident attorney will be happy to help.

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