Are there any restrictions on how I can use my settlement funds?
Yes, there may be restrictions on how you can use your settlement funds, depending on the terms of your specific settlement agreement. While Secure Horizon Settlements strives to provide flexibility in using your funds, there are common restrictions to ensure responsible use. Typically, settlement funds are meant to cover medical expenses, caregiving costs, loss of income, and other compensatory damages, so their use for these purposes is generally permitted. However, there may be limitations on using the funds for non-compensatory purposes such as luxury purchases or speculative investments. It is crucial to consult your legal advisor or settlement administrator for specific guidelines regarding the use of your settlement funds to ensure compliance with any applicable restrictions.
Answered Nov 2, 2023
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