Structured settlement

A structured settlement is a financial or insurance arrangement whereby a claimant agrees to resolve a personal injury tort claim by receiving periodic payments on an agreed schedule rather than as a lump sum. Structured settlements were first utilized in Canada after a settlement for children affected by Thalidomide. Structured settlements are widely used in product liability or injury cases (such as the birth defects from Thalidomide). A structured settlement can be implemented to reduce legal and other costs by avoiding trial. Structured settlement cases became more popular in the United States during the 1970s as an alternative to lump sum settlements. The increased popularity was due to several rulings by the IRS, an increase in personal injury awards, and higher interest rates. The IRS rulings changed policies such that if certain requirements were met then claimants could have federal income tax waived. Higher interest rates result in lower present values, hence annuity premiums, for deferred payments versus a lump sum.

Structured settlements have become part of the statutory tort law of several common law countries including Australia, Canada, England and the United States. Structured settlements may include income tax and spendthrift requirements as well as benefits and are considered to be an asset-backed security. Often the periodic payment will be created through the purchase of one or more annuities, which guarantee the future payments. Structured settlement payments are sometimes called periodic payments and when incorporated into a trial judgment is called a “periodic payment judgment.”


In the United States

The United States has enacted structured settlement laws and regulations at both the federal and state levels. Federal structured settlement laws include sections of the (federal) Internal Revenue Code. State structured settlement laws include structured settlement protection statutes and periodic payment of judgment statutes. Forty-seven of the states have structured settlement protection acts created using a model promulgated by the National Conference of Insurance Legislators (“NCOIL”). Of the 47 states, 37 are based in whole or in part on the NCOIL model act. Medicaid and Medicare laws and regulations affect structured settlements. To preserve a claimant’s Medicare and Medicaid benefits, structured settlement payments may be incorporated into “Medicare Set Aside Arrangements” “Special Needs Trusts.”

Structured settlements have been endorsed by many of the nation’s largest disability rights organizations, including the American Association of People with Disabilities and the National Organization on Disability.

Structured Settlement Quotes

We recently had to make the decision to get my father into an assisted living home which was a tough decision in itself.

To make matters worse we were running into a brick wall with multiple companies when it came to selling his annuity. He told us that it was impossible and I understand why he felt that way. He had been in contact with four companies that said that he wasn’t qualified and they wouldn’t be able to handle his annuity funding.

Apparently, his particular situation was,”beyond complicated”. Needless to say, I was beyond frustrated. The reason we went to these companies in the first place was because they were supposed to be the experts. It wasn’t until I got in contact with an attorney, about another matter, that I was able to find a solution. He told me about and within weeks they had come up with a solution to what seemed to be an impossible problems.

Bravo guys, in an industry that seems to be filled with incompetence, you were able to provide quality customer service, put up with a very frustrated individual and get the job done. If it weren’t for this company we may have never been able to get the funding. Since the transaction has been completed we were able to handle some of my fathers medical costs and get some estate planning done or him as well. I’m beyond relieved to be done with the whole process and to my surprise, there was a happy ending.

Structured Settlement Quotes – SSQ took me out of a mess.

Structured Settlement Quotes – A great company to TRUST!

Structured Settlement Quotes is the WORST

Structured Settlement Quotes – Structured Settlements Quotes

Structured Settlement Quotes Hartford CT