If I have 2 minor daughters who were in an automobile accident with a semi-truck, is there a set amount of years for a structured settlement?

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If I have 2 minor daughters who were in an automobile accident with a semi-truck, is there a set amount of years for a structured settlement?

Or can I choose the amount of years?

Asked on November 19, 2013 under Personal Injury, Tennessee

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

A structured settlement--i.e. payment over time--can be any length of time that the two sides agree to. Given the importance of this decision, you are advised to speak with a financial planner and/or tax professional before electing a specific structure; you should also have legal representation to review the other aspects of the settlement and to make sure you are getting an appropriate amount of compensation.


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