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Encino Commerce
Jul 02

Can I Break and Annuity from a Car Accident Settlement?

Posted by: Personal Injury Attorney  

Can I Break and Annuity from a Car Accident Settlement?Those few moments after an automobile collision can be terrifying for anyone that has never experienced these types of situations.  Even drivers and victims that have been in multiple accidents may quickly realize that they are in over their head and in need of professional legal assistance.  This includes those that have successfully received a settlement from their accident and are currently receiving payments from an annuity.  Here is a look at the importance of our experienced car accident lawyer in Los Angeles that may be able to assist an individual break their annuity if they would like to receive a lump sum.

An annuity can be created for any victim that has received a settlement from a court ruling, from an insurance company, or through an out-of-court settlement.  These are simply structured payments that will be paid out over the years, often as few as just a few years or for as much as 30 years or longer.  This will typically result in fewer taxes being paid and a larger settlement.  Some individuals may wish to break their annuity to receive a lump sum, but this can be difficult.

If you or someone you love is currently receiving structured payments from an annuity after an auto accident, contact our Los Angeles personal injury attorney today to see what options may be available to you.  We are proud to have worked with countless victims throughout the years, helping them receive a maximum settlement in those most pivotal periods immediately after an automobile accident.