Here for you.
Navigating a settlement can feel overwhelming, especially when it comes to understanding your options. That’s why we’re here—to offer clear, helpful information and guide you through the process with confidence. Partnering with a settlement planner can help ensure that your financial future is protected and that you receive the maximum benefit from your settlement.
Structured Settlements
A structured settlement allows you to receive your settlement funds in periodic payments over time, providing long-term financial security and peace of mind. Rather than receiving a lump sum, you’ll have a reliable income stream that can be customized to meet your needs, whether that’s covering medical expenses, living costs, or future planning. Structured settlements also come with significant tax advantages, as they are exempt from federal and state income taxes. An experienced settlement planner can guide you through this process, ensuring your settlement is structured to maximize financial benefits and meet your long-term goals.
For cases involving minors, structured settlements can offer even greater protections, ensuring that funds are managed and preserved until the child reaches adulthood. You can learn more about the different options available for structured settlements for minors with our free guide below.
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Who manages the trust?A qualified trustee, typically a lawyer or accountant, manages the trust. They oversee fund distribution, ensure compliance with regulations, and protect your long-term financial interests.
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Can I change my trust if my circumstances change?Yes, in some cases, trusts can be modified to better suit your needs as your life circumstances evolve.
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What is a Special Needs Trust, and why might I need one?A Special Needs Trust preserves eligibility for needs-based government benefits while allowing the use of settlement funds for additional expenses.
Trusts
Trusts are another powerful tool to manage your settlement funds, offering flexibility and protection, particularly for individuals receiving government benefits or needing long-term financial management. Depending on your specific situation, one or more types of trusts may be appropriate to safeguard your settlement. Working with CSS, our settlement planners will help you identify the right trust for your needs, ensuring that your settlement is handled responsibly and in compliance with legal requirements.
Types of Trusts
Qualified Settlement Funds (QSFs)
A QSF is a court-approved trust used to hold and manage settlement funds, allowing all parties to finalize the lawsuit before distributing the funds. It provides flexibility in asset allocation and tax planning.
Special Needs Trusts (SNTs)
An SNT protects settlement funds for individuals receiving needs-based government benefits like Medicaid or SSI. This trust maintains beneficiary eligibility while providing for expenses not covered by public assistance.
Settlement Management Trusts
Settlement Management Trusts offer long-term management of settlement proceeds, ensuring funds are used responsibly over time. These trusts can cover living expenses, medical costs, or other needs.
Minor’s
Trusts
A Minor’s Trust holds settlement funds for a child until they reach a financially responsible age, typically 18 or older. This ensures that the settlement is preserved and used in the child’s best interest.
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Who manages the trust?A qualified trustee, typically a lawyer or accountant, manages the trust. They oversee fund distribution, ensure compliance with regulations, and protect your long-term financial interests.
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Can I change my trust if my circumstances change?Yes, in some cases, trusts can be modified to better suit your needs as your life circumstances evolve.
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What is a Special Needs Trust, and why might I need one?A Special Needs Trust preserves eligibility for needs-based government benefits while allowing the use of settlement funds for additional expenses.