People are often confused by the title “structured settlement broker,” as this term can come up in two completely different situations.

The first person often referred to as a structured settlement broker is an agent agreed upon during the trial phase, while the structured settlement is still being established. Since a structured settlement is often established to provide extended benefits or compensate for long-term costs, a third party is often required to determine what these costs will be. An experienced structured settlement broker agreed upon by both parties in court will attempt to determine a monetary value based on expected long-term medical costs, cost of living adjustments, life expectancy of the parties involved, and so on.

The second person with the title “structured settlement broker” is an agent who finds interested buyers of structured settlements. If you are interested in selling your structured settlement and wish to use a broker, make sure you are dealing with a reputable broker with experience and a good track record. Just as you would when dealing with a structured settlement buyer directly, check the broker with your local Consumer Affairs Office and the Better Business Bureau to see if any complaints have been filed.