Benefits Of Structured Settlement In Divorce | Structured Settlement

The structured settlement is the main form through which a financial agreement or an insurance is obtained in a matter. The process is approved by the Internal Revenue Code, which clarifies the ways in which this agreement should be considered so that it is favorable to the right party involved in the process. It is the way through which cases between two parties, in which one is the harmed and the other is the harmer, the whole problem is settled before getting to court and as a response to a settlement claim. The purpose of the process is to find out which is the exact harmed party and which are the compensations that should be allowed to that person for the things suffered.

In divorce cases, the usage of this type of a settlement is the most probable one, as the couples getting the divorce are usually asked to try this option, before going to court, in order to avoid going through a prolonged trial, which may even make the matters a lot worse. The main benefit to surface from the usage of this type of a settlement comes in the form of the financial agreement issued once with the custody of the children. The settlement is the one through which the amount and the terms of the child support payments are fixed and through which the parent getting the custody is insured of the fact that they will get the money promised in the right amount and in proper timing.

From the usage of the structured settlement in the case of a divorce, the parent receiving the custody of the children will be able to save a lot of money. This means that the settlement of the custody and of the child support payments can be settled outside of the court. Going to trail would actually mean a lot more money spent on lawyers and on other taxes, as well as a complete waste of time. Therefore, the whole divorce process would be prolonged and would cost the parties a lot more money. It is important to remember that the main benefits that surface from the usage of the structured settlement are the ones connected to the children, who should be the most important ones in this matter, although this is an issue that has surfaced between the two parents.

Source: http://www.structuredsettlement.us/benefits-of-structured-settlement-in-divorce.html

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