Structured Settlement Annuity: What You Need to Know

Ever filed a personal injury lawsuit against a person or a company that caused you temporary or permanent disability? Winning the lawsuit would mean that the party you sued should pay you a lump sum of money as a compensation for the injury you incurred. A better and more sensible option is to reach an agreement called the structured settlement.

What is a structured settlement?


Simply put, a structured settlement or annuity payment pays you a certain amount in installments over time. As a result, you get a constant stream of income from these payments in the long term.

Usually, defendants buy an annuity from an insurance firm for every amount that is supposed to be paid. The structured settlement annuity gives you regular payments, the amount of which is specified by you and your lawyer as agreed by both parties (you as the plaintiff and the company as the defendant) under the structured settlement terms.

In a structured settlement, the documents that have to be accomplished consist of an agreement between the two parties, an application for annuity, a court order (if the personal injury claim is made by a minor), and an annuity policy. In most states, hiring a lawyer is necessary before an individual can get a structured settlement annuity.

How are payments made?


Regular payments are structured according to your needs. The payments can be given in equal installments every year. In some cases, structured settlements are paid initially as a lump sum of cash and then followed by monthly installments. The payments can also include deferred payments and certain agreements regarding the future hospital bills or other medical expenses of the injured person.

The structured settlement annuity payments are tax-exempt, meaning no taxes are deducted from the payments you receive. For the structured settlement payments to remain tax-free, the structure of payments under the terms of the structured settlement should not be changed.

Your Ultimate Guide to Federal Public Records

Did you know that there is a law that allows U.S. citizens to access federal public records or information? Enacted in 1966, the Freedom of Information Act (FOIA) requires federal agencies to release public records once they have received a written request for access to the records. Indeed, it is your right as a taxpayer who helps federal agencies stay afloat to request for access to some public documents.

Why people access federal public records?

People might want to have a closer look at the various state departments and their functions to know where to ask help when the need arises. Some people might want to understand how the federal justice system works, so they need to take a look at federal courts public records.

To aid their hiring process, employers can access federal criminal public records from the National Criminal File (NCF) to do background checks on their prospective employees. Records from the Federal Bureau of Investigation (FBI), however, are not open for public access.

Federal criminal records include various items such as profiles of serial killers and federal offenders or prisoners as well as indictment case files. People can also gain access to documents on the investigation findings involving cases of racketeering groups after the trial, conviction, and imprisonment.

How to get this document

Thanks to the internet, anyone can obtain federal public records in just a matter of seconds. Public records that document federal activities are available at various websites, giving information that the public needs.

To make access to public information easier, the government has provided dedicated search engines for federal records. Such search engines aid in trimming down your search to the most specific information, making it easy for you to find exactly what you need rather than doing a manual search online.

However, if you have a general or vague idea about the federal records you are looking for, you can just type in the keywords of the public information you want to view. Also, you can browse through the categories available such as tax records, real estate records, public marriage records, public birth records, and public death records.

Why Get a Bankruptcy Lawyer? 3 Reasons You Need to Hire an Attorney from Your City

Are you going to file for bankruptcy in your city? Before you do so, it is best to hire a bankruptcy lawyer who will guide and protect you once you declare bankruptcy. Why do you need a lawyer for that purpose? The United States has its own rules regarding bankruptcy, and there are legal procedures that need to be followed during the filing process. Your lawyer will play a big role in this process, so choose someone from a reputable bankruptcy law firm.

In particular, a Phoenix bankruptcy attorney performs the following duties for clients who are filing for bankruptcy.

1. Evaluating your current financial situation

One of the first things your lawyer will do is to make an assessment of your financial state and recommend the best course of action that you will take. Your lawyer will also inform you about your rights and responsibilities when you file for bankruptcy. You need to be aware of these things to protect yourself against any risk.

2. Guiding through the sophisticated legal system

If you do all things alone, you will surely get lost in the legal maze of rules and regulations. Only an experienced lawyer can guide you through every step of the process of filing for bankruptcy and help you understand the rules that affect your case. His legal expertise is what you need to get things done right.

3. Ensuring error-free bankruptcy petition

Your final bankruptcy petition should include everything that has to do with your finances. The bankruptcy lawyer will help you by making certain that your petition contains complete, relevant, and accurate information.

Law firms that specialize in bankruptcy in your area can be your reliable partner in your bankruptcy filing process. So take your time in looking for and finding the one that meets your specific legal needs.

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