The "it's my money and I want it now" philosophy is not always the best thing, says Kelly Ramsdale. It is important to set up a structured settlement properly from the get-go and not to over-structure the settlement.
Ramsdale, President of Kelly Ramsdale and Associates, a national plaintiff-only structured settlement consulting firm in Denver, Colorado, spends a lot of time working with families, building their structures with them. The idea, she says, is that the structure is locked in but doesn't feel locked in. She makes a lot of benefit streams coming out so that the structure never needs to be invaded.
Ramsdale tells attorneys that they've got the structured settlement protection act in place, that requires a person to go in front of a judge in their jurisdiction to make sure the structure is in their best interest. She is often asking attorneys, "who would sign on for a financial vehicle that you could never escape from?"