Black, Holcomb, Smith & Associates
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Frequently Asked Questions


QUESTION:         What is a Structured Settlement?
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ANSWER:            A proven, effective solution for personal injury claimants and the beneficiaries of a wrongful death settlement, providing future periodic, tax-free payments, tailored to meet your needs, typically funded through the purchase of a special life insurance company annuity.

QUESTION:         Why should I consider a Structured Settlement?
ANSWER:            A properly constructed structured settlement will generate income tax-free periodic payments paid to you in a format designed to assist you with future financial needs and to provide you with safe, secure future income.

​QUESTION:         What are my settlement options?
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ANSWER:            As you, your attorney and a structured settlement specialist work to resolve your personal injury or wrongful death claim, one option is a lump sum settlement, where the entire amount is paid as cash to you at the time of settlement.  A second option is a structured settlement where you receive some cash at the time of settlement, together with a series of tax-free payments made over time.  The amount and frequency of these future payments will depend upon a number of factors, including your individual wishes, your future needs and the severity of your claim.  Claims professionals, plaintiff attorneys, judges and defense attorneys advocate for the use of structured settlements because they can effectively meet your needs for security, as well as provide you more benefits payable over time than a single lump sum payment.

​QUESTION:         When would I receive my payments?
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ANSWER:            Any ‘up-front’ payments would be paid subsequent to a Court approval and/or signing settlement agreements.  Your periodic payments can be arranged to begin immediately, or at some specific time in the future, such as when your children reach their college ages, or perhaps for adding to your retirement benefits.  Payments can be made monthly, quarterly, or annually, be periodic lump sum payments made at pre-determined intervals.  Payments can increase over time in pre-determined amounts and can be paid for a specific length of time, or in some cases, the payments can be made for your lifetime.

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Black, Holcomb, Smith & Associates • 2888 East Oakland Park Boulevard • Fort Lauderdale, Florida  33306
​Toll-free:  (888) 395-8772     Phone:  (954) 630-2400     Facsimile:  (954) 630-2401

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  • Home
  • Structured Settlements
  • About Us
  • Contact Us
  • FAQs
  • Resources
    • Structured Settlement Industry Links
    • Life Company Ratings
    • Case Law
    • NSSTA Brochures
    • Applicable Tax Code
    • Mortality Tables
    • NYS Medical Indemnity Fund (MIF)