If you have named a beneficiary your structured settlement, any remaining certain income payments and guaranteed lump sum payments remaining after you pass, will be paid to your named beneficiary or beneficiaries. 

If you have not named a beneficiary, or the beneficiary you named is no longer living (and you have not named a contingent beneficiary), then any remaining payments after you pass,  will go to your estate

Be sure to review your beneficiary designations periodcally (and at least as often as there are any life changes) to be sure that the beneficiary designation is aligned with your current wishes.  If you wish to make a change  and it is permitted under the settlement, you need simply notify the annuity issuer writing and in a proper format acceptable to the annuity issuer. 

 If you are receiving and/or scheduled to receive payments from multiple companies be sure to review them all and submit applicable changes. 

They all have an easy to fill out beneficiary designation form. Call us at 888-325-8640 if you need assistance, or have any questions about structured settlement benefiociaries

A structured settlement broker is paid 4% of the annuity premium by the life insurance company issuing  the structured settlement annuity funding the  future payments to the plaintiff. This amount does not change with the exception of structured settlements funded through Independent Life Insurance Company whose duration based compensation modeal sees rates vary from 2% to 6% depending on the duration of payments. Independent Life's iStructure pays a 6% commission.  If there is more than one broker involved, it does not cost any more, because the fee is split among the brokers, just like it would be in the purchase or sale of real estate where there is a buyer's broker and seller's broker.

Structured settlement annuity premiums, including applicable qualified or non qualified assignment fees, must be paid by check or wire. 4structures.com LLC will provide payment instructions along with a W-9 for each Payee.

Note: An individual cannot buy a structured settlement annuity for themselves. See anwer to next question for an explanation.

Because actual receipt would had to have occurred. Here is a link to how structured settlements work that may be helpful.  Call structured settlement expert John Darer at 888=325-8640 to speak with a live person

Stamford, CT 06902 USA.  John Darer, President of 4structures, holds insurance licenses in CT, NY, NJ and AK, AL,  AZ, CA (0761076), CO,  DE, FL, GA, HI,  IL, IN, KY, LA, MA, MD, ME, MI, MO, MS, MT,  NC, NE,  NH, OH, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA,  WI, WV and Washington DC. For structured settlement consulting and settlement planning services call us at 888-325-8640

No, a structured settlement is not an annuity. A stuctured settlement is a form of settlement in which at least some part of the  consideration for the settlement is paid in the form of customized streams of future perioidic payments. A structured settlement is most often funded with an annuity, although it could be funded with something else like US Treasury obligations.

The tax status of your structured settlement payments depends on the types of damages that each of the payments represent.  You will find this information in the Settlement Agreement & Release. The intention of the parties is important and that's why it is vital to pay attention to review such documents very carefully before signing.

Read more about Structured Settlement Tax Benefits

Also see IRS "The IRS is reluctant to override the intent of the parties. If the settlement agreement is silent as to whether the damages are taxable, the IRS will look to the intent of the payor to characterize the payments and determine the Form 1099 reporting requirements"  https://www.irs.gov/government-entities/tax-implications-of-settlements-and-judgments

• The structured settlement payments cannot be borrowed against, deferred, accelerated or modified once they’ve been set up.  Work with an experienced structured settlement expert to determine together what is best settlement planning strategy for you.
• Default risk, meaning the life insurance company that is selected becomes unable to make the payments. However, this risk is small due to the well-capitalized highly regulated life insurance companies that are used for structured settlement annuities used as qualified funding assets for structured settlements. A number of companies have been in business since the 19th Century! The funding of structured settlements can be diversified and spread among several different life insurance companies to lessen the small default risk.

The benefits of structured settlement,  income stability and certainty to address known needs, with tax advantages and customzation far outweigh weigh disadvantages

No, a structured settlement is not an award. That's why it's called a settlement A structured settlement is the result of a negotiated compromise.  

For more information see How Structured Settlements Work

You may see  "awarded a settlement on the websites or blogs of structured settlement factoring companies or websites that generate leads for them such as Annuity.org or Structuredsettlements.com, but these websites are inaccurate in this regard.