College Tuition Rising

College Tuition Rising

Structuring Settlements for Future Success 

October 27, 2011 – The cost of earning a college degree just got pricier.  In some states, a whole lot pricier.

In its article “5 biggest state tuition hikes,” CNNMoney reports an “alarming” increase in college tuition increases.

The hikes they discuss are not of the walking variety by the way.

California, Arizona, Georgia, Washington and Nevada top the list of states where tuition increases rose up to 21%.

What’s a parent to do?

Those settling personal, physical injury claims can employ the same “lemonade out of lemons” strategy parents have been taking advantage of for the 20+ years I’ve been helping clients with their structured settlement choices.

I’m proud to have played a role in helping shape so many futures.

How it works:  No one wants their child to suffer an injury.  But parents with legitimate claims routinely arrange for settlement proceeds to be paid via a structured settlement to coincide with future tuition payments.  The vast majority of judges responsible for approving the settlements tend to prefer this settlement option.

It’s easy on the parents, easy on the plaintiff attorney, easy on the claims representative handling the file and good for the injured party.

In addition to minors structuring their settlements or parents structuring their own settlements to help their kids with college, another terrific but underutilized opportunity arises for plaintiff attorneys who structure their fees.

While most everyone agrees in the value of sending their offspring to college, the sad reality is that most parents are unable to save sufficiently to fulfill this wish.  I have assisted a number of plaintiff attorneys over the years who were savvy enough to structure their fees sufficient to coincide with the anticipated college for their children.

Whether you’re a claims professional offering a settlement, a plaintiff attorney representing a client or a parent in the midst of settling a claim, make sure you ask about structuring your settlement.

A structured settlement is not always the right option for one’s settlement proceeds.  But everyone involved in the process owes it to themselves to have their needs properly evaluated prior to settlement.

Call us.  We can help.

 

Comments

Finn Financial Group