What is a structured settlement?

A structured settlement is a type of legal settlement that is created in order to compensate an injured person for an accident or injury. In Oklahoma, this type of settlement is common in incidents involving personal injury or wrongful death. Under a structured settlement, the defendant is required to make payments over a period of time, usually several years, to the injured party as a means of providing financial support. The structured settlement typically requires the defendant to make periodic payments to the claimant for a set amount of money over a certain period of time, with the amount of each payment determined beforehand. The payments may be made in a lump sum or may be divided up into smaller installments over multiple years. These payments are usually tax-free, which helps the injured party manage their finances more easily. Structured settlements are designed to provide financial support and security to the injured party for the duration of the payments. It also ensures that the defendant is held accountable for their actions, even if money can never truly replace the injuries suffered by the claimant.

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What is a structured settlement?

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