Structured Settlement in Illinois
2 min read
Published July 14, 2026 • By DocketMath Team
This page has current canonical verification receipts.
Quoted from the source law itself. Not legal advice; confirm how it applies to your matter.
Current verified answer
Illinois structured-settlement: limitation period is see statute; disclosure days is 10.
Calculate nowAuthority and key facts
- Limitation Period: see statute
- Disclosure Days: 10
- Discount Rate Disclosure: IRC 7520 rate
This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.
Structured Settlement in Illinois
Illinois law gives a structured settlement recipient 10 days to cancel a transfer agreement after signing it, under the Structured Settlement Protection Act (215 ILCS 153/1 et seq.). This 10-day rescission period is a non-waivable cooling-off right that begins the moment the transfer agreement is executed. During this window, the recipient may revoke the deal without penalty or further obligation. The Act sets out additional requirements for court approval and protections for the payee, all detailed in the official statute. The worked example below illustrates how the 10-day timeline applies in a typical scenario. To estimate your own transfer terms, use the DocketMath calculator.
Governing authority
In Illinois, the structured settlement rule is set by 215 ILCS 153/1 et seq.. The verified packet cites 215 ILCS 153/1 et seq. (https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=1257&ChapterID=22).
Illinois structured settlement: the verified value is 10 days under 215 ILCS 153/1 et seq.. The verified packet cites 215 ILCS 153/1 et seq. (https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=1257&ChapterID=22).
Estimate your own result: every situation has exceptions that can change the outcome. Use the structured settlement calculator to estimate your specific figure.
This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.