Union Speaks Out for Structured Settlements
According to the past president of the Communications Workers of America and general counsel in San Diego, structured settlements may guarantee injury income for victims of accidents in ways that are not available in a one time pay out settlement.
In one of the largest union newspapers in America, Michael Rott and Judy Beal described the benefits of working with a structured settlement consultant and the tragedies of workplace injuries.
Rott and Beal wrote that Structured settlements are “a financial benefit the federal government created exclusively for accident victims”. The article goes on to describe how they had battled in behalf of the family of a union member who died while at work.
By setting up a structured settlement, they were then able to provide a tax-free income which allowed the member’s wife to sustain having one of the children in college while staying at home and caring for another child that has autism.
Additionally, they also emphasized how important it is for the victim to work with a structured settlement consultant. “The possibilities of structured settlement payments are endless, which is why we always recommend working with an experienced structured settlement consultant.”
As for the deceased union member, they said, “Our consultant designed a payment stream that recognized the family’s changing needs, including occasional larger payments to meet future requirements.”
