Do I Really Need a Structured Settlement Broker
Posted on June 18, 2014
When it comes to structured settlement cases, neither the beneficiary nor the defendant has a clear idea of the costs involved in the settlement. This is where a structured settlement broker comes in. This person can help both parties get a fair assessment of costs based on calculations and projections. A broker provides information which acts as a platform for conducting the negotiations between the parties.
The right broker will handle such tasks as financial analysis for the plaintiff, derive present value cost based on that analysis, mediate during negotiations, and offer tax-planning advice to the plaintiff. A broker works with the plaintiff or his attorney to negotiate a suitable agreement. Alternately, the broker can be the middleman when an individual makes the decision to sell his or her structured settlement.
Ideally, a broker should help an attorney in the negotiation process and provide financial input relevant to the fiduciary position that they enjoy. This helps the attorney take into consideration finances such as medical expenses, present income, loss of wages, and debt. The broker is involved during the negotiation and in the post-negotiation process. The combined knowledge of the attorney and the broker is critical in building a powerful case for the plaintiff.
A structured settlement broker provides various payment options and explains features of each to the plaintiff. With input from the broker and the attorney, a person can decide on the most suitable payment structure for them. A structured settlement cannot be renegotiated.
What should you look for in a broker? Someone that is registered with the Department of Justice, has a registration in at least one state in America and at the minimum with one insurance company. They should be insured against errors and omissions as well.
With the presence of a structured settlement company as a third party between a defendant and a beneficiary, the beneficiary can avail the settlement sum in a variety of ways depending upon his present financial condition and lifestyle.
Settlements can also be offered through an equity annuity which enables the beneficiary to invest the money obtained.
An individual involved in litigation needs help filing a claim, managing documents, and assessing present and future damages. Along with a competent lawyer, he is helped in this by a structured settlement company that can gauge future requirements and advise upon a settlement amount and periodicity of payment.
An individual who receives a large cash award, whether from a court settlement, winning a lottery, or being awarded a sweepstakes prize stands to benefit immensely by taking the services of a structured settlement company to help manage finances better.
If you are interested in how a Structured Settlement Broker can help you please don’t hesitate to contact me today so we can set up a time to talk and go over what you need and how I can help get you together with the proper specialist so help you to achieve your goals while staying protected at all times. I look forward to providing you continued knowledge in the area of structured annuities!
John Bulbrook, Bulbrook Drislane – IN-FORCE ™ Secondary Market, Finance and Investments, Secondary Market, Annuities, Fixed Term Annuities, Life Insurance, Structured Settlements, Previously Owned Annuities, Pre Owned Annuities, Immediate Annuities, Factored Structured, Settlement Secondary Market Annuity, Aftermarket annuity, Inforce fixed term annuities, Inforce fixed term annuity, Inforce annuity, Deferred Variable Annuity, Inherited Annuity, Equity Annuities, Straight Life Annuity, Non Qualified Annuity, Mutual Fund Settlement, 20 Year Annuity, 10 Year Annuity, 5 Year Annuity – Click here for his Facebook,Twitter, LinkedIn, Google Plus