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If I decide to receive the lump sum check, then after receiving it I purchase a life plan similar to the one proposed by my attorney. Do I still get the tax free component similar to the one offered by signing through him and the firm proposed by him ?
Sorry, i probably stated my question the wrong way, your previous info is clear.
My question: The lifetime benefits plan proposed by my attorney with monthly income and lump sums has a tax free component, according to him(by signing through him and the firm he chose). If I decide to receive the check myself then invest in an annuity similar to the one he proposed after, would I lose that tax free component in the lifetime benefits plan ?