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Structured Settlements
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Structured Settlements and Periodic Payment Judgments is a complete reference work for attorneys, settlement planners, and insurance and annuity companies. It contains complete and current coverage of all issues confronting those who resolve personal injury cases through structured settlements or who litigate cases under periodic payment of judgment rules. Topics include: negotiation strategies; annuity testimony to prove future losses; the responsibilities of plaintiff and defense counsel; IRC Section 468B Settlement Funds; annuity rates; evaluating the financial strength of insurance companies; state insurance guarantee associations; financing alternatives; the interrelationship of periodic payments and entitlement to Social Security, Medicare and other public benefits; evaluating and augmenting damages; expert testimony; mass tort litigation; effects of tax legislation; structured settlement work processes; factoring; structuring worker's compensation cases; and more.
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Structured Settlements are most often used to resolve personal physical injury claims or lawsuits by establishing a stream of periodic payments that are funded by annuities provided by highly-rated life insurance companies. If a structured settlement is used to fund a personal physical injury claim, it provides the payments tax-free. A structured settlement can be used to settle non-personal injury claims too.
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Structured Settlements are becoming today’s most recognized way for a person who suffers from physical injury to protect their finances. Payments, free of federal, state and local taxes, are paid in installments rather than a lump sum. This allows a person to live better and not waste a large sum of money paid at one time. Structured settlements are favored today by disability advocates, state attorneys and judges as a means of settlement in personal injury and wrongful death cases. This type of settlement can be determined by each individual’s needs. A structured settlement can be made between the victim and the defendant, with their lawyers or the cases can go to court., which can take a longer period of time to settle depending on the court system in your area.
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Structured Settlements and Periodic Payment Judgments features a full discussion of "Structured Settlement Factoring Transactions," with an analysis of Internal Revenue Code Section 5891-Victims of Terrorism Tax Relief Act-and its effect on reinforcing and expanding structured settlements. This statute has an impact on all structured settlements past and future. It provides claimants and their attorneys with definitions, procedures, guidelines and some protection under the Internal Revenue Code to help involved parties to transfer structured settlement payment rights following settlement.
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A structured settlement may be agreed to privately, in mediation, in a pre-trial settlement or it may be required by a court order. An attorney typically draws up the necessary structured settlement paperwork required.
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Structured claim settlements have often been a preferred method of resolving serious bodily injury and workers' compensation claims. However, recent poor performance of the stock market and low interest rates have made some risk managers and financial officers question the current viability of such settlements. In truth, the best time to design a structured settlement is when interest rates are high. The next best time is when interest rates are low.
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