What is a structured settlement?

NJ Workcomp Structured Settlement?

• Once an order is made on a settlement ~ can the settlement be done in structured payments without first letting the court know that is the intent? Is there anything the attorney can do? What if we don't want a structured settlement? None of this was mentioned in the court ~ the total payouts were listed and signed off and we were told the check would arrive in 3 to 6 weeks. We received 25% ~ I did some math and it looks as though they are going to pay this out over the course of two years.

• Answer:

  Most likely, the state requires that future medical payments be set up this way, to keep you from spending it all at once and then not having the money to pay the actual medical bills. But you need to ask your ATTORNEY these questions - that's what you're paying him for!