If you are a Vioxx claimant or have been notified by mail or phone call that you will be receiving an award from the Vioxx settlement fund, you have a very short window of time to make your decision as to whether or not you want to take your payments over time using a structured settlement annuity. Here are the simple steps of the decision process you need to take right now for my firm, Wahlstrom and Associates, or any other firm, to assist you in that decision:
1. Make sure you have
your letter from your law firm or lawyer confirming that you have been
awarded an amount in the settlement. Your structured settlement expert will need to know your lawyers
name, the office location and what dates they have given you to get
your letter back to them as to your decision.
2. Determine if you are on medicaid or medicare for your health insurance. One of the most important areas to plan around is potential liens on your settlement or to avoid being disqualified from future medicaid benefits. Please let your structured settlement expert know right away if you are on either medicare of medicaid!
3. Accurate information about you, your family and your planning needs. Are you retired? Are you on a pension? Does your spouse work or is your spouse potentially on medicare or medicaid as well? All of these questions will need to be asked and answered as they impact how we would allocate your funds and what types of tools we need to employ to maximize the value of your award.
4. What are
your immediate cash needs. What bills have mounted up or need to be paid
right away. If you decide to structure your payments you will certainly
want some amount in cash so give our office some idea of what your
immediate needs are. Remember, it is not an all or nothing decision. You can take part in cash and the rest in a structure, in fact that is typically the best way to handle your planning.
5. What your future plans or income needs might be. We will assist you with this planning in our conversations but be thinking about what you might need to pay future bills, expenses or assist family.
Wahlstrom and Associates is open from 8:00 am to 6:00 pm from now until September 19th to
assist Vioxx claimants with their decision process. I am sure other structured settlement firms working on the Vioxx case will be extending hours as well.
I will be releasing a special podcast tomorrow afternoon specifically for Vioxx claimants so check back soon to view that important video podcast on Vioxx settlement options.