When you’ve been injured due to someone else’s negligence in Oklahoma, one of the first questions you’ll likely ask is, “What is my case worth?” While every…
Category: Settlement
What is a Personal Injury Structured Settlement?
A structured settlement provides compensation through scheduled, periodic payments rather than a lump sum. The defendant’s insurance company typically funds this by purchasing an annuity from a highly rated life insurance company, which then makes guaranteed payments to the plaintiff according to a prearranged schedule. Under Internal Revenue Code Section 104(a)(2), all structured settlement payments for personal physical injuries or sickness are 100% income tax-free, including any interest or growth earned within the annuity.
How Does a Lump Sum Settlement Affect Social Security Disability?
Getting hurt and accepting a lump sum settlement might change how much money you get from Social Security. However, this is a complicated issue. A lump sum…
