I am currently negotiating a Personal Injury lawsuit settlement with an insurance company that will put me way over my allowed annual earning. Is there any way for me to shelter this award to avoid giving so much to social security?

Hi. The only way that an insurance settlement would possibly count for purposes of Social Security's annual earnings test is if it involves wage payments or self-employment earnings. Wages and self-employment earnings are the only type of income that counts for earnings test purposes (https://www.ssa.gov/pubs/EN-05-10069.pdf). I don't know any details about your lawsuit, but if it won't result in you receiving additional wages or self-employment income then it won't cause you to lose any benefits due to the earnings test.

Best, Jerry