LYCOS RETRIEVER 
Structured Settlements: Plaintiffs
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The traditional tax-free structured settlement can be used in any case resulting in physical injury or sickness to the claimant/plaintiff as a result of a tort action. It can ... be used in wrongful death actions, where surviving family members are involved in litigation. In most states, traditional structured settlements can also be used in Worker’s Compensation cases; however, the use of Qualified Assignments needs to be evaluated on a case-by-case basis due to specific state and federal regulations.
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A structured settlement broker provides various payment options and explains the salient features of each to the plaintiff. With inputs from the broker and the attorney, a person can take a call on the most suitable payment structure for him. The services of a knowledgeable structured settlement broker are in demand because of the nature of a structured settlement; it cannot be renegotiated.
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The structured settlement has been an effective tool for a legal defense to hold down payouts since its invention in the 70s. It now offers Plaintiffs and their counsel the opportunity to obtain maximum benefit from settlements and verdicts, while maintaining control and achieving the most favorable tax and economic treatment. Serpe Insurance can assist the Plaintiff and Plaintiff's counsel in realizing these goals.
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A structured settlement is an agreement between a plaintiff and a defendant under which the injured person (the plaintiff) receives damages in the form of a stream of periodic payments over time that are tailored to meet the plaintiff's needs. The periodic payments qualify for preferential tax treatment under Sections 104(a)2 and 130 of the Internal Revenue Code.
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Encouraged by Congress since 1982, a structured settlement is a financial option in injury and death cases in which an injured plaintiff chooses to accept compensation through a series of guaranteed payments most often funded by a life insurance company annuity. Endorsed by numerous advocates for people with disabilities, structured settlement payments are tailored to meet victims’ living and medical needs.
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Once liability for malpractice in failing to recommend a structured settlement is established, damages must be determined. The measure of damages is the difference between what the plaintiff actually received and the amount he or she should have received, and the potential is huge. In Grillo, ˆhe lump sum settlement was $2.5 million and the proposed structured settlement would have paid more than $100 million, so the arguable damages for the attorney malpractice totaled more than $97 million.
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