In 2000, our son was the victim of an injury at birth. For the rest of his life, he will require medical and rehabilitative care. Right before our malpractice trial our family accepted a financial settlement that included a structured settlement. For us, the key advantage of this structured settlement is the peace of mind knowing that our son is guaranteed to have income to meet his needs for his entire life. As long as my husband and I are on this earth, we'll take care of our son. Structuring the settlement allows us to know he will have access to excellent care whether or not we are alive. If we had taken our whole settlement in cash and that money ran out, then we wouldn't have done our job as parents. Regardless of our job situations or market conditions, our structured settlement means that our son will always have the funding required for his care. Finally, using the structured settlement made our probate approval easier. The probate judge looked favorably on choosing to structure a piece of our settlement.
Annuitant, Cleveland, OH