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Creating & Managing Special Needs Trusts

Creating and Managing a Special Needs Trust

By Patrick C. Farber On January 28, 2019 · 4:07 PM · Add Comment

Special Needs Trusts (SNTs) provide critical financial support to those with life-long severe or catastrophic injuries. A properly created and managed SNT allows money from a personal injury settlement to be set aside for medical care and day-to-day living support without the injured individual losing or being disqualified from receiving government benefits. To be eligible a “Pooled Trust” must be created for the injured party.

[...]
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Structured Settlement 101 - Enrique Sierra

Structured Settlements 101

By Patrick C. Farber On December 17, 2018 · 2:32 PM · Add Comment

Here are the basics of a structured settlement. Please don’t hesitate to call me with any questions.

Tax benefits: For injured parties, structured settlements provide a tax-free income stream, possibly for life, without fear of money mismanagement, market fluctuations or unscrupulous con artists waiting to milk them out of their money.

Minimum structure: About half of structured settlements are for settlements under $50,000. Most are [...]

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Very Few Americans Have Their Finances In Order

Very Few Americans Have Their Finances In Order

By Patrick C. Farber On November 26, 2018 · 2:59 PM · Add Comment

Recently, I came across a new USC and Center for Financial Services Innovation survey that indicates very few Americans have their finances in order. Most, in fact, are still struggling financially in spite of a healthy economy and low unemployment.

The survey showed that only 28 percent of American households feel they are in control of their spending, are saving enough and have rainy [...]

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Think of Triumph Foundation This Thanksgiving Season

Think of Triumph Foundation This Thanksgiving Season

By Patrick C. Farber On November 5, 2018 · 3:11 PM · Add Comment

Thanksgiving is a time for being thankful for what we have and helping others in need. Approximately 288,000 people have spinal cord injuries in the U.S. according to the National Spinal Cord Injury Statistical Center. Over 3/4 of new injuries each year are young males. Car crashes and falls are the primary cause.

As a structured settlement broker, I’ve work with those with spinal cord [...]

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Easing the Financial Stress Of Caring For A Severely Injured Family Member

Easing the Financial Stress Of Caring For A Severely Injured Family Member

By Patrick C. Farber On September 21, 2018 · 1:46 PM · Add Comment

After going through the pain and shock of a loved one suffering a catastrophic injury, family members are then faced with another jolt-the realization of the staggering costs associated with keeping their loved one in the best possible health.

A recent Merrill Lynch/Age Wave survey found that 41 percent of caregivers said they entered the role of caregiver suddenly. Ninety-two percent said they provide [...]

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Important News About LMSAs

Important News About Liability Medicare Set-Asides

By Patrick C. Farber On August 28, 2018 · 6:14 AM · Add Comment

Medicare Set-Asides (MSAs) are often an important element in structured settlement planning. The purpose of MSAs is to “set aside” funds from the structured settlement so the injured party can pay for current or future medical expenses that would otherwise be covered by Medicare. Medicare is the secondary payer for injury-related medical expenses—after a defendant or the defendant’s insurance carrier. Once the MSA funds are [...]

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The role of structured settlement advice before, during and after mediation

The Role of Structured Settlement Advice Before, During and After Mediation

By Ali Mendiola On August 28, 2018 · 6:08 AM · Add Comment
Bringing two parties to the mediation table in a personal injury case is often a substantial feat. It shows a willingness to negotiate and even to compromise on both sides. Much discussion and agreement needs to happen before reaching the “demands and offers” and eventual settlement phase. Knowing in advance how much an injured client
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Tax-Free Status of Physical and Emotional Injury Settlements—Timing Is Everything To The IRS

Tax-Free Status of Physical and Emotional Injury Settlements—Timing Is Everything To The IRS

By Patrick C. Farber On August 6, 2018 · 1:21 PM · Add Comment

When someone is physically injured on the job, shouldn’t the IRS consider the entire settlement proceeds as non-taxable income? The answer is complicated.

Tax attorney Robert Wood explains how timing and semantics play a role in the tax status of physical (and emotional) damage settlement proceeds in his piece “Emotional Distress Damages Are Taxable, Physical Sickness Damages Are Not, How Come?” Robert says that [...]

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A Balanced Structured Settlement Protects Clients From Their Worst Financial Instincts

A Balanced Structured Settlement Protects Clients From Their Worst Financial Instincts

By Patrick C. Farber On July 9, 2018 · 2:23 PM · Add Comment

Greed, fear and plain old bad decisions can derail even the best investment plan. This holds particularly true when a personal injury client receives a large lump sum settlement and decides to make his or her own financial decisions with little or no investing experience or fails to heed sound financial advice. The results are predictably bad–settlement funds disappear long before expected and instead of [...]

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Spring/Summer Atlas Report on Medicare Benefits & Medicare Set-Asides

New Spring/Summer Atlas Report on Medicare Benefits & Medicare Set-Asides

By Patrick C. Farber On June 11, 2018 · 12:39 PM · Add Comment

Every quarter, Atlas Structured Settlements releases its report on Medicare issues including Medicare Set-Asides. The Spring/Summer report is out. Topics include:

CMS Moves to Medicare Beneficiary Identifier Version 2.7 of the WCMSA Reference Guide Published WCMSA Submission Guidelines: A Refresher Budget Act of 2018 Limits Medicaid Third-Party Recovery Rights New Commercial Repayment Center (CRC) Contractor Takes the Reins New Workers’ Compensation Review Contractor [...]
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    “Our clients lives are forever changed by the time they come to our law firm. When we are able to get them the results they deserve, structured settlements are essential in providing for their future needs. Our main goal is to then make sure we are able to maximize their settlement funds and be able to provide for medical and, if necessary, round-the-clock nursing care”

    Christopher T. Aumais
    Attorney-At-Law

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Recent Posts

  • MetLife White Paper: Structured Installment Payments For Business or Real Estate Sales

    MetLife White Paper: Structured Installment Payments For Business or Real Estate Sales

    April 9, 2025
    MetLife recently released a White Paper on the potential tax …Read More »
  • Number of Structured Settlements Hits Record High in 2024

    Number of Structured Settlements Hits Record High in 2024

    March 6, 2025
    A recent Forbes magazine article quoted statistics compiled by the …Read More »
  • Structuring Settlements & Attorney Fees In Fire-Related Lawsuits

    Structuring Settlements & Attorney Fees In Fire-Related Lawsuits

    February 25, 2025
    Legal complaints are already being filed after the devastating fires …Read More »

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  • Are Settlement Damages Involving PTSD Tax-Free? - Patrick Farber Structured Settlement Brokers on Patrick Farber
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  • Addressing FAFSA Challenges/Paying For College Through Structured Settlements - Patrick Farber Structured Settlement Brokers on Patrick Farber
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Creating and Managing a Special Needs Trust
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