Personal injury plaintiffs who win or settle their cases can often choose to take their winnings as a one-time lump sum or as a series of payments over a period of time. This series of payments is called a Structured Settlement. Whether you should opt for a lump sum payment or a structured settlement will depend on many factors, including your tax liability, how you plan to spend the money, and whether you need assistance in managing a large sum of money.

Below you can learn how a structured settlement works and review some of the things you should consider when deciding to take a structured settlement or a lump sum payment if you win or settle your lawsuit.