http://structuredsettlementauthority.com/ Independent news and information on structured settlements. Resource articles on how to sell structured settlement payments for cash and choose a settlement company. en Copyright 2008 Tue, 15 Apr 2008 00:07:22 -0700 http://www.movabletype.org/?v=3.17 http://blogs.law.harvard.edu/tech/rss
Note: This is just the first half of our suggestions for Structured Settlement reform, more to come later this week.

1. Introducing a government assisted educational track for tort victims might help them decide on a long term plan instead of going directly to settlement payments.


2. New laws creating stricter regulations on advertising structured settlements, this could go hand in hand with educational options


3. When it comes down to it we might just need some better leadership from the Better leadership from the NASP (National Association of Settlement Purchasers) who are sponsoring all of this confusion and harmful profiteering, there is certainly room for education and profit in the industry and a wise company leader could step up to assume that role. this might also tie into voluntary educational assistance programs or semi-settlements which offer a lump sum along with a partial payment (so settlers aren't completely helpless if they spend their money)


4. Development of a NASP (national association of settlement purchasers) website that could help to inform and update the public. Right now there is nothing above the fold on Google for the search "NASP" that even relates to structured settlements (NASP is a very common acronym).

]]> http://structuredsettlementauthority.com/news/2008/04/15/index.html#000358 http://structuredsettlementauthority.com/news/2008/04/15/index.html#000358 Tue, 15 Apr 2008 00:07:22 -0700
In emergencies the structured nature of settlement payments becomes restrictive and does not accommodate the flexibility needed to address major financial emergencies. If you find yourself in this position it is wise to seek the help of professionals including structured settlement brokers, lawyers, and financial advisors. You will want to learn as much as you can and also to compare the offers of several companies before you make any decision. Remember you are in control, make an informed decision that is right for you.]]> http://structuredsettlementauthority.com/news/2006/07/31/index.html#000355 http://structuredsettlementauthority.com/news/2006/07/31/index.html#000355 Mon, 31 Jul 2006 16:55:35 -0700
There are many companies that offer cash for structured settlements and they have a variety of programs that will allow you to access any portion of your annuity. You may want to sell the payment rights for just a few years and receive a partial cash lumpsum while still retaining a portion of your monthly payments. Alternatively, you could sell your structured settlement payment rights for a single payment. You really have the control to customize an arrangement to get cash for a structured settlement based on your unique needs. This is an important decision that has legal and financial consequences to be sure to consult your advisors prior to making a final decision. During the process learn as much as you can and get several free quotes and compare offers to make sure you get the most cash for you settlement annuity payments.]]> http://structuredsettlementauthority.com/news/2006/07/29/index.html#000354 http://structuredsettlementauthority.com/news/2006/07/29/index.html#000354 Sat, 29 Jul 2006 16:43:43 -0700
Because of all of these complexities it is always a good idea to seek professional assistance. It is also a good idea to compare several free quotes when you seek cash for a structured settlement. Do your homework and check out multiple companies to see which one can offer you the most cash for your structured settlement. Beyond the money you will receive you also should consider the integrity, reputation and track record of the company. Receiving cash for a structured settlement can seem very appealing, especially if you need a lump sum of money to satisfy your immediate needs but remember to have the patience to get the help you need prior to making your final decision.]]> http://structuredsettlementauthority.com/news/2006/07/25/index.html#000353 http://structuredsettlementauthority.com/news/2006/07/25/index.html#000353 Tue, 25 Jul 2006 15:50:43 -0700
NSSTA is a non-profit organization headquartered in Washington, D.C. with a membership consisting of more than 700 structured settlement professionals including: brokers; annuity and trust providers; liability insurers; and attorneys who specialize in structured settlement agreements.

During the meeting adopted a new mission statement, amended as follows. The primary mission of the Association shall be to promote the establishment and preservation of structured settlements in order to provide long-term financial security to personal injury claimants and their families through periodic payment of compensation. The Association also shall promote utilization of periodic payment arrangements generally as a tool for resolving claims. The Association shall carry out its mission through public advocacy, legislative action and educational programs

The NSSTA also reported on the progress of its Broker Relationship Initiative, which was created in 2005. The stated purposes of this initiative is to determine how we can strengthen the future of structured settlements for the benefit of all concerned and identify and, where we can appropriately, discuss and address key issues of concern to the structured settlement industry.]]> http://structuredsettlementauthority.com/news/2006/07/23/index.html#000352 http://structuredsettlementauthority.com/news/2006/07/23/index.html#000352 Sun, 23 Jul 2006 10:12:00 -0700
If you are considering selling your structured settlement to get access to some cash, you will usually have a number of alternatives to choose from. It is possible to sell either a part of or their entire settlement annuity. You may want to only sell a few years’ worth of structured settlement payments and also keep some of the benefits of regular payments through the remaining structured settlements.

Because of all these complexities, it is in the interest of the seller to seek out the advice of a lawyer and financial advisor who can guide him regarding the various legal and tax requirements that often vary from state to state. In addition to state laws there are federal regulations that also govern the sale of structured settlements. In some cases insurance companies will not pay the annuities to anyone except the original beneficiary. Laws also require buyers to show the value of settlement sold broken down into the amount paid, and the difference between it and the sum of the future payments. A court will only approve the sale of a structured settlement if it is convinced that the sale is in the best interests of the recipient and his dependents. If the court approves the sale of structured settlement, the proceeds will be tax free for both the buyer and the seller. As you can see, the best advice is to seek our professional help before making any decision regarding the sale of all or part of your structured settlement payments.]]> http://structuredsettlementauthority.com/news/2006/07/21/index.html#000351 http://structuredsettlementauthority.com/news/2006/07/21/index.html#000351 Fri, 21 Jul 2006 09:53:48 -0700
If you are an accident victim or have suffered as the result of someone else's negligence, you can get an attorney and go to court to receive a legal settlement. Rather than choosing a large lump sum payment, you now have the option to choose a Structured Settlement, which will allow you to receive a series of future annuity payments on a defined schedule over the course of the agreement.

Structured settlements are annuity usually paid by large insurance companies, purchased by defendant to make the payments to you, which were agreed upon in the court settlement.

Structured settlement payment annuities were created is to protect person getting the money, from spending the money too quickly or in a reckless manner. A structured agreement helps the victim avoid jeopardizing his or her own future financial well being.

While you will never be able to eliminate the possibility of an accident or malpractice, are things you can control afterwards. If tragedy strikes, you can choose to receive a series of futures payments under a structured settlement agreement rather than a large cash sum. This type of agreement might be in your best interests, if you change your mind, you can always sell your structured settlement and get access to your cash now. As always, it is best to be prepared and informed. Protect you and your family by finding out more about structured annuities and structured settlement payment agreements.]]> http://structuredsettlementauthority.com/news/2006/07/19/index.html#000350 http://structuredsettlementauthority.com/news/2006/07/19/index.html#000350 Wed, 19 Jul 2006 09:28:01 -0700
Tabitha DeSousa went to a Minnehaha-area residence to use methamphetamine and ended up with two severed leg arteries and a bone shattered into 16 pieces when she was hit by a .45-caliber bullet fired by Deputy Don Slagle. He was trying to shoot DeSousa's dog.

Slagle and Deputy John O'Mara went to the house, at 5717 N.E. 45th Ave., on the evening of June 26, 2004, after a complaint that a handgun and drug paraphernalia had been spotted inside the residence, which was being sold and was supposed to be vacant.

Deputies and several witnesses said the animal charged the deputies; others said the animal was merely running to its owner. All of some nine or 10 witnesses interviewed for a sheriff's investigation said DeSousa screamed "Don't shoot my dog" and moved in some fashion, perhaps to place herself between the deputies and the dog, when she was hit.

The structured settlement agreement is on the county commissioners' Tuesday consent agenda and is related to DeSousa's injury and her claim that she was arrested without probable cause and negligently wounded. A staff report says: "These claims are disputed, but it is agreed that the injury to Ms. DeSousa was serious."

And so is the damage to taxpayers, under the terms of the structured settlement the county agreed to: Payment of $108,356.27 in medical expenses, a $150,000 cash lump sum payment, and a $100,000 structured settlement annuity with payments scheduled through Dec. 31, 2026.
Source: ColumbianNews.com Saturday, June 24, 2006]]> http://structuredsettlementauthority.com/news/2006/07/17/index.html#000349 http://structuredsettlementauthority.com/news/2006/07/17/index.html#000349 Mon, 17 Jul 2006 08:01:53 -0700
The structured of the proposed settlement, if accepted by the SEC, would not entail economic consequences for TV Azteca. Ricardo B. Salinas and Pedro Padilla would bear the monetary costs resulting from this proposal.
Source: HispanicBusiness.com]]> http://structuredsettlementauthority.com/news/2006/07/15/index.html#000348 http://structuredsettlementauthority.com/news/2006/07/15/index.html#000348 Sat, 15 Jul 2006 07:45:39 -0700
If the settlement structure is approved, Bonneville will pay Edison future payments of $28.5 million plus interest to resolve legal claims against the agency totaling about $208 million.

The lawsuits in the U.S. Court of Federal Claims grew out of a dispute over terms of a 1988 power sales contract during the crisis.

Payments under the settlement would be made only after resolution of separate litigation over California refunds for claims and lawsuits resulting from the energy crisis in 2000-01.

The proposed Edison settlement is structured so that payment will be made only when the California refund proceedings are resolved and the net amount, if any, due to BPA has been received in its entirety, officials said.

“The settlement would help put the fallout of the West Coast energy crisis behind us,” said Steve Wright, Bonneville administrator. “It would protect Northwest ratepayers while re-establishing a collaborative business relationship with an important business partner in California.”
Source: OregonNews.com]]> http://structuredsettlementauthority.com/news/2006/07/13/index.html#000347 http://structuredsettlementauthority.com/news/2006/07/13/index.html#000347 Thu, 13 Jul 2006 07:33:30 -0700
Power Authority officials formally approved the structured of a $279 million, 50-year settlement annuity that will see the bulk of the funds allocated towards waterfront development efforts in both Erie and Niagara counties. The first settlement proposal tendered by NYPA was a $100 million, 50-year package of payments.

"Just one year ago this community stood up and demanded a fair and equitable settlement in the 50-year relicensing agreement with the New York Power Authority," said Rep. Brian Higgins, in a prepared release.

"Today, the NYPA board approved the settlement we fought for, representing three times their original offer," Higgins' said.

The structured of the settlement was considered crucial to NYPA in its effort to gain federal relicensing approval for its power plant operations in the Town of Lewiston.

"We structured the settlement so to get the highest and best use of this new waterfront money, restricting its use to design and construction of physical improvements along the Buffalo waterfront," Higgins said.
Source: Business First of Buffalo - June 27, 2006]]> http://structuredsettlementauthority.com/news/2006/07/11/index.html#000346 http://structuredsettlementauthority.com/news/2006/07/11/index.html#000346 Tue, 11 Jul 2006 07:10:47 -0700
"We are very concerned about the possibility that this settlement may be structured in a way that allows for payments made by the settling company to be tax deductible, thereby leaving the American taxpayer to effectively subsidize its misconduct," Sens. Charles E. Grassley of Iowa, John W. Warner of Virginia and John McCain of Arizona wrote in a letter to Attorney General Alberto R. Gonzales, dated June 29.

The letter asks Gonzales for an analysis of the tax treatment of the settlement structure and whether the annuity payments may be covered by Boeing's insurers. The information will "help us to determine the appropriateness" of hearings, the letter said. It requests a response by Wednesday or before the settlement is executed, whichever is sooner.
Source: Washington Post, July 8, 2006 http://structuredsettlementauthority.com/news/2006/07/09/index.html#000345 http://structuredsettlementauthority.com/news/2006/07/09/index.html#000345 Sun, 09 Jul 2006 06:59:31 -0700
There are several factors to consider in deciding if a structured settlement is the right choice for you.

Usually a lump sum will be worth less than the payments received over time. However, in some cases this can be more beneficial to a specific individual. Normally, a structured settlement will allow you to receive monthly payments as opposed to one large lump sum

Tax advantages are another consideration. Structured settlement payments have tax advantages compared to a lump sum payment. Normally the structure results in a lower amount of money going to taxes.

If an individual is on disability, is incapable of work or has become incompetent, a structured settlement would be a good way to provide for long term support. In some cases monthly payments can be arranged to allow care throughout the recipients life time.

In cases where a wrongful death a structured annuity can also be agreed upon to provide ongoing support for the spouse and/or children to allow for compensation of the lost wage earner.

Structured payments can also be tailored to match the ongoing need to make certain payments. Payments needed for mortgages, car loans, and medical expenses are typical.

In essence, a structured settlement allows an individual to receive customized payments instead of a single lump sum. A lump sum allows for more money right away, where a structured settlement provides a predetermined series of payments over a specified period of years.

It is up to the individual to determine which is the right solution for you. You may wish to discuss it with your family, attorney, and financial advisors prior to deciding if a structured settlement is right for you.]]> http://structuredsettlementauthority.com/news/2006/07/08/index.html#000344 http://structuredsettlementauthority.com/news/2006/07/08/index.html#000344 Sat, 08 Jul 2006 17:03:07 -0700
Once the timing and structure of these payments has be agreed upon, the payments are generally facilitated through the purchase of one or more annuities from a life insurance company. So the money paid actually comes from a reputable and secure company rather than directly from the defendant.]]> http://structuredsettlementauthority.com/news/2006/07/02/index.html#000356 http://structuredsettlementauthority.com/news/2006/07/02/index.html#000356 Sun, 02 Jul 2006 17:04:34 -0700
Roles played and action taken by the settlement specialist during each step of the structured settlement process:

The specialist will review the entire claim file and help document and define existing and future damages. The focus is on the plaintiffs future needs and making a recommendation of how a series of periodic payments can be used to meet those needs and also facilitate the settlement process. A complete estimate of the future medical expenditures and loss of earning capability is included in this complete analysis of anticipated needs. This is especially important in catastrophic cases where the injuries sustained deprive the victim the ability to physically work.

The structured settlement company will also look for and then assess medical information related to impaired life expectancy due to the accident. This impaired-life rating is important in that it may enhance the benefit stream to the beneficiary since their life expectancy has been reduced. While this calculation may sound morbid it is important. Having a 30 year annuity with lower payments is of less value to a person with a life expectancy of 15 years. They would be better served by a 15 year structured settlement with higher benefit payments.

After all the constraints have been identified, a specific proposal is developed. Structured settlements are completely customizable and the payments can be structured to precisely fit the needs of an individual case. This is one of the many benefits of structured agreements. A well written proposal will address the liability of the defendant and the specific needs of the claimant.

The proposal is used as a starting point in the structured settlement negotiation process. The settlement specialist can provide assistance throughout the negotiation process by provide their perspective and judgment which they have gained through years of training and experience.

After the structured agreement has been reached various legal documents will need to be prepared. This will involve a series of reviews and each time the draft will be modified until the final version has been reached and the documents can be released.]]> http://structuredsettlementauthority.com/news/2005/11/10/index.html#000343 http://structuredsettlementauthority.com/news/2005/11/10/index.html#000343 Thu, 10 Nov 2005 07:53:51 -0700