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Author Topic: Anyone familiar with medical settlement tax laws?
TheHumanTarget
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Is anyone here familiar or knowledgeable about tax laws regarding out-of-court medical settlements (i.e. taxation on lump sum settlements)?
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Boon
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Sure. Shoot me an email if you don't want to discuss it here.
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TheHumanTarget
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Boon,
I just sent you an e-mail.

Thanks,
THT
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Boon
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reply sent
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TheHumanTarget
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I replied again.
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Lyrhawn
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Get a structured settlement, they aren't taxed, and they pay out a lot more over the years.
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TheHumanTarget
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Lyrhawn,
The settlement is a done deal and involves both lump sum and structured payments.
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Lyrhawn
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Yeep, my bad, didn't know the details.

Good move getting the structure though, I used to work for a company that did structured settlements (heck, you might have even used them in your case) and it almost always turned out to be a better solution for the plaintiffs than one big cash settlement.
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TheHumanTarget
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Lyr,
I didn't put the details out there for common knowledge, so you can hardly be faulted for not knowing [Smile]

The structured payments were our biggest goal, to basically allow our daughter a sense of financial security throuhgout her life.
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