In some cases, you may find that receiving a structured settlement offers several key advantages. In the aftermath of a severe accident, you may find yourself dealing with ongoing medical expenses or rebuilding your life because of the full extent of your injuries. As a result, you may find that a structured settlement offers ongoing assistance with those bills and provides you with a regular source of income. On the other hand, when you receive a lump-sum payment, you will have the full funds from your personal injury settlement in your hands immediately, rather than having to wait for months or even years for the full amount to pay out. When you have significant immediate expenses and needs, including high medical costs or the need to renovate your home to accommodate your injuries, you may find that a lump sum settlement works best for your financial needs. Talk to your attorney about your financial needs and the strategies available to you. In many cases, you may find that a financial advisor can help you break down how you should manage your compensation, what strategy works best for you, and even how to invest it to provide an ongoing source of income.