Farmer & Klopfer Secures $200K Structured Settlement for Child Hurt in Car Accident

Our team of Waldorf injury attorneys from Farmer & Klopfer are excited to announce that we have recently secured a structured settlement in excess of $200,000 for a young client who was hurt in a car accident. Due to the confidentiality included in the settlement agreement, we cannot disclose many details about this successful case result. We can say that our client was only 10 years old when a negligent motorist crashed into the vehicle they were riding in, resulting in serious injuries.

Our client and their family are very satisfied with the $200,000+ structured settlement that will help them regain financial stability after the devastating car accident. Furthermore, all parties are pleased that a settlement was reached without having to take the case through prolonged courtroom litigation.

Tax Benefits from Structured Settlements

Did you know that structured settlements often have significant tax benefits compared to lump-sum settlements? Typically, structured settlements are considered tax-exempt by the Internal Revenue Service (IRS), so the finances gained through the settlement payments are not first reduced by state-level or federal-level taxes. For this reason, our client’s $200,000+ structured settlement will technically provide him with more compensation in the long run than a lump-sum settlement payment would have.

The financial benefits of a structured settlement don’t end with tax advantages, though. In many cases, a structured settlement allows tax-exempt growth in a guaranteed annuity, allowing interest to be earned on the funds placed into the structured settlement. This unique financial situation allows structured settlements to eventually pay out more than was originally agreed upon.

With the potential tax and interest benefits of the structured settlement, our young client who was hurt in a car accident is poised to receive a full and maximized amount of compensation for their injuries and losses. Our entire team is proud to have played an integral part in securing this impressive recovery.

Need legal counsel who genuinely cares about winning the most compensation possible for you? Choose Farmer & Klopfer in Waldorf. We’re always ready to fight for our clients in cases involving auto accidents, medical malpractice, product liability, premises liability, and more. Call (301) 265-2220 or submit an online contact form now—initial consultations are completely free.

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  • $1,800,000 | Car Accident - 2022
  • $1,250,000 | Car Accident, Confidential - 2022
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