A structured settlement can offers several advantages over a one-time, lump sum payout. With a structured settlement, the security of long-term income is guaranteed. If the victim is confined to a wheel chair or needs constant bed rest and nursing attention, a structured settlement can make certain that sufficient funds will be in hand to pay for the care. This allows the patient and/or their family to concentrate on health care without having to be overly concerned with the machinations of investing a lump-sum payment.
Structured Settlements allow income to be spread over time, which is safer than a lump sum payment. Studies have shown that some 30% of those who receive lump-sum payments as compensation for accident or injury spend the money within two months, and some 90% have spent the money within five years.
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Contents of this Practice Direction Title
Scope
Definitions
Starting proceedings
Claimants with severely limited life expectancy
Fixing the case management conference for other claims
The show cause procedure
Setting the trial date
Taking evidence by deposition
Compliance with pre-action protocols
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The statute of limitations in most states for filing mesothelioma lawsuits is between 1 - 2 years from first diagnosis, so time if of the essence to proceed with most cases. Pending legislation may extend this time-frame to 4 years, but nonetheless, it is important not to wait in case the legislation does not go through or is appended with a shorter limitation. Mesothelioma lawsuits may take years to litigate before a settlement or verdict is achieved. Remember, with this type of cancer, the contact with the asbestos may go back as far as 40 - 50 years before symptoms appear and a diagnosis is made. So, in this type of case a lengthy investigative process usually ensues.
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