Article provided by: WePayMore Funding LLC
At We Pay More Funding, our aim to avail funds to our clients in the shortest time. Encompassing more than three decades of outstanding experience in the practice, we have helped several customers sell their structured settlements for cash to meet their immediate financial needs. We are one of the top-rated agencies to deal with structured settlement in TX.
How does the structured settlement work?
Most lawsuits involve one party paying damages to the opposite party/person. A structured settlement is what that the lost party pays to the person that wins the lawsuit in periodic payments. The at-fault party may deposit the money in an annuity so that the opposite party receives regular payments from the insurance company.
There are virtually no restrictions on the length of time for these payments. These payments can begin immediately or be deferred for a future date as requested by the recipient. We help our customers sell their annuities and structured settlement in TX for the best price.
Choose between a lump-sum payment and a structured settlement
The choice you make can have a major impact on your long term tax consequences. Your lump sum or periodic payments can be either taxable or tax-free based on the nature of your damages. If your damages are punitive, you must pay tax for your payments.
On the other hand, damages received to compensate for physical injuries are tax-free. Similarly, you must plan your payment based on your financial needs. If you have an immediate monetary requirement, you can receive it as a lump sum. If you have an unstable job or if you plan to secure your retirement life, it is best to choose periodic payments.
Benefits of structured payments
Structured payment is an approach where you can choose to receive the winnings of a lawsuit over the years. Some of the benefits of scheduled payments include:
- The receiver of these payments does not have to pay any tax for the amount he/she receives through structured payments.
- If the recipient of structured payment passes away, their legal heir is entitled to receive these payments with tax-free benefits.
- It is a smart financial decision because, with structured payments, the recipient is less likely to make large, extravagant, and unwanted expenditures. It is a guaranteed source of income that acts as a financial cushion to meet sudden financial needs and medical emergencies.
- It offers a guarantee of financial security for a very long time.
- Structured settlements are more stable and do not fluctuate with market changes.
- When opting for a structured settlement, you end up receiving more than what you would receive from a lump-sum payout. This is because, with structured payments, you would also receive the accumulated interest for your annuity over the years along with your periodic payments.
Contact We Pay More Funding today to get the highest possible amount in the shortest period by selling your structured settlement in TX. At We Pay More Funding, we excel at offering the best customer support to our clients.Structured Settlement Tx
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