Unlimited Flexibility in Design
Unlimited Flexibility in Design
Your structured settlement can be designed to take any form you choose. McKellar works with you to select the features that best fit your needs:
a) Duration and Frequency of Payments:
You can arrange for payments to last for a set number of years (or until you reach a certain age) or for your lifetime (regardless of how long you live). You can choose to receive your payments monthly, quarterly, twice a year, or annually.
b) Start Date:
Payments can begin right away (usually about 1 month after funding), or at a fixed date in the future (a "deferral"). If you need a little income now, but more in the future, you can start small and have payments increase at a later date. Any deferral allows interest to grow tax free, in order to provide higher payments later. If you need more money now and less later, the structure can do that too.
c) Periodic Lump Sums:
In addition to your regular payments, you can also arrange to receive bigger lump sum payments at set future dates. These lump sums can give you more flexibility in the event future needs arise, or if you think you may need to make larger purchases (wheelchairs, vehicles, more care/treatments at certain points) in the future.
Remember!
Once your structure has been set up, it cannot be changed or cashed in.
