Articles tagged with: Structured Settlements
A new investment product is showing up at settlement conferences. Often referred as “re-factored annuities” or “secondary market annuities,” these are structured settlements that have been sold by an injured party to a factoring company (i.e., Peachtree, J.G. Wentworth), which then pools them and sells the re-packed structures in the secondary market. Tax issues and safety concerns make these investments riskier to injured parties than traditional structured settlements.
A recent article (December 18, 2011) in the Los Angeles Times discussed the track record of 529s and found that timing has much to do with how a 529 account ultimately performs.
Not all structured settlements begin and end with a life insurance annuity. A number of investment options are available when creating a structured settlement to meet an injured party’s financial needs.
Life expectancy is not normally a subject that comes up in everyday conversation. Yet for personal injury attorneys, determining the life expectancy of a catastrophically injured client is critical when it comes to structuring a proper settlement that will enable the injured party to lead a comfortable life.
Structured settlements and the laws governing them are ever-changing. Issues like how they are taxed, when they can be used, and whether they can be sold seem to be in a near constant state of flux. For plaintiff trial lawyers who are charged with properly advising their clients regarding settlement of their cases, this instability can be disconcerting, to say the least.
“For 30 years, structured settlements have provided injured people with long-term financial security and special tax benefits. How these settlements are used and funded is constantly evolving. Make sure you know all the options so you can build the best structure for your client.”
New California Appeals Court Opinion Addresses Alleged Violations of Structured Settlement Protection Act
In Ceron, the California appeals court upheld the dismissal of a would-be class action lawsuit that alleged, in part, that Wentworth violated the California SSPA’s requirements concerning advice to the structured settlement payee, while also reversing the dismissal of one count where the plaintiff, Raul Ceron, sought injunctive relief against what he alleged to be ongoing and continuing SSPA violations that also constitute unfair business practices.
The ASCDC’s 50th Annual Seminar, March 10-11 at the Millennium Biltmore Hotel in Los Angeles, will feature a panel on Medicare Set-Asides and compliance issues involving structured settlements. Joining me on the panel will be Jon Gunter, executive vice-president at MEDVAL.
We work with clients and attorneys in California and around the country in creating structured settlements for medical malpractice, personal injury, product liability, workers’ compensation, mass torts and construction defect cases as well as for non-physical injury cases and attorney fees–all at no cost to the client.