If you have recently come into a large sum of money, you may want to think about setting up a structured settlement instead of receiving a lump sum. While this option isn’t for everyone, it can be beneficial when it comes to budgeting, and paying less tax on your earnings.
Here is a four-question guide to structured settlements.
1. What is a structured settlement?
A structured settlement is when you receive periodic payments for the money awarded in a lawsuit that you have won. It is “structured” because you are agreeing to receive a set amount of that money … Read more at 2008 Taxes.