4structures' John Darer cuts through the hieroglyphics of whatever you want to know about structured settlements,
Have a question about structured settlements? We’re here to help. Call us at 888-325-8640
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
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
Have a question about structured settlements? We’re here to help. Call us at 888-325-8640
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
For more information see How Structured Settlements Work
4structures’ John Darer® CLU ChFC MSSC CeFT RSP CLTC, responds to some common questions that people are asking about structured settlements in this 2016 video.
Some of the questions answered in this Structured Settlement FAQ video posted on Talking Settlement
