Designing a Structured Settlement Option Without a Crystal Ball

February 9, 2022

Great news!  You’ve settled your claim and decided to structure some of your funds.  Now, you just have to design the perfect option.  Easy, right?  But, wait.  None of us can predict the future; there are no crystal balls.  So how do you choose the best option to provide for what the future holds?

Even without a crystal ball, designing the best option is not as hard as you think.  With a bit of reflection, McKellar can help you design a structure option that gives you great peace of mind.

So where to start?

  1. Make a budget!  What do you want the structure payments to pay for?  Create a list of monthly expenses and identify “needs”, “wants”, and ”nice to haves”.
  2. Look at all sources of income.  Which expenses will the structure fund, and which will be covered by other sources of funds?  Don’t forget to take into account government and other benefits that can assist in funding some needs.
  3. Think about the future.  What other benefits might be available to you throughout the various stages of your life, including retirement age?  Think about Child Care Benefits, Inheritances, RDSPs, Old Age Security, Guaranteed Income Supplement.  With a structure you preserve those income-tested benefits for your future.

Sharing this information with your structure consultant will help them make suggestions for you.  You might review a structure option that provides for a higher monthly payment now, and then have it reduce at age 65 by 50% when your CPP Pension and Old Age Security kick in.

Maybe your current ODSP benefits cover many of your immediate needs, so your structure can be designed to provide a modest supplement to your ODSP income supports now, then ramp up after age 65 when ODSP income supports cease.

Perhaps, you just want the structure to cover your mortgage payments over the next 18.7 years until it is paid off, and that is okay too.  That is the beauty of a structured settlement.  There are almost endless possibilities in the design stage and it can be custom-tailored just for you.

As difficult as it might seem at first, with the help of your McKellar Structure Consultant, you can design a structured settlement that is custom-tailored to meet your specific needs.  With just a little bit of homework, you can build yourself a tax-free pay cheque that is secure and that preserves your access to income-tested government benefits – all with no fees.

No crystal ball necessary.

Now you’re sure.


Michelle's passion for customer service and life-long learning is evident in every aspect of her role at McKellar.  Her exceptional accuracy, keen attention to detail and high level of productivity has helped uphold McKellar’s reputation for being the best in the business.  To learn more about Michelle, check out her bio here, or contact her directly here.