Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews

What is a Qualified Assignment Release and Pledge Agreement (QARP)?

by John Darer CLI ChFC MSSC CeFT RSP CLTC

A Qualified Assignment Release and Pledge Agreement (QARP) is a legal document, the execution of which sets the second stage of a structured settlement transaction in motion (see below). QARPs are used in personal injury settlements.or wrongful death settlements,where there is a desire for the Payee to have secured party status.  

What are the components of a QARP?

1. Structured Settlement: A structured settlement is a negotiated financial arrangement where as part of the consideration for the release of claims, the defendant or its/their insurers agree to make one or more customized streams of periodic payments to the plaintiff (injured party). A structured settlement is not an all or nothing  arrangement.  

2. Qualified Assignment: A qualified assignment is type of assignment used to establish a structured setytlement, that complies with the requirements of the Internal Revenue Code (IRC) Section 130. A qualified assignment is an intrinsic part of a structured settlement transaction where the periodic payments represent damages for personal physical injury or physical sickness, wrongful death or workers compensation claims. Meeting the requirements is essential so that the assignment is considered "qualified" for tax purposes, and the defendant or insurer can generally claim a tax deduction for the qualified assignment.

3. Release: The plaintiff typically agrees to release the defendant or insurer from any further liability related to the original claim in exchange for the promise to make the periodic payments (structured settlement payments).This release is a crucial part of the agreement.

4. Pledge:   In the Pledge part of the QARP, typical language includes "the Assignee-Debtor pledges and grants to Claimant-Secured Party a lien on and security interest in all of Assignee-Debtor's right, title, and  interest in the Annuity and all payments therefrom in order to secure the obligation of Assignee-Debtor to make the Periodic Payments. Assignee-Debtor and Claimant-Secured Party shall notify Annuity Issuer of the lien created under this Agreement, and Assignee-Debtor shall deliver  Assignee-Debtor shall have all rights of ownership and control in the Annuity, including the right to receive and retain all benefits under the Annuity, which are not inconsistent with the security interest granted inthe QARP, and Claimant- Secured Party shall have no right to anticipate, sell, assign, pledge, encumber, or otherwise exercise any right with respect to the Annuity, so long as Assignee-Debtor has not failed due to insolvency or bankruptcy to make any of the Periodic Payments. If such a failure occurs and is
   continuing, Claimant-Secured Party shall have all of the rights and remedies of a secured party
   under the law then in effect in the State of________________

All settlement documents should be carefully drafted to comply with both federal and state laws governing structured settlements and assignments. Additionally, individuals entering into such agreements often seek legal and financial advice to ensure they make informed decisions.

Sampling of other John Darer Reviews of topics and sub-topics of Qualified Assigmments:

• Structured Settlements with Inclusive Qualified Assignments (4structures.com)
• Qualified Assignments With Multiple Family Members on Same Form | Why Its May Not Be Such a Good Idea - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)
• If You See a Qualified Assignment and Release Like This, Seek a Second Opinion - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)
• Qualified Assignments and Tax Rules Concerning Structured Settlements - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

 

Texas Structured Settlement Conundrum Solved | Structured Settlement is Not a Judgment

by John Darer CLU ChFC MSSC CeFT RSP CLTC

A Structured Settlement is Not a Judgment

Like fruit in Scotch Old Fashioned, a structured settlement factoring company has muddled up the definition of structured settlement in its advertising cocktail.  Oh dear!

How Texas Structured Settlement Factoring Company Defines Structured Settlement in Ad

"A structured settlement is a defined set of payments to be made in the future from one party to another as a result of a civil lawsuit judgement. For example, if you win a personal injury case, the defendant may be required to pay you $500 per month".

A structured settlement factoring company has muddled up the definition of structured settlement in its advertising.  Oh dear!

What Exactly is a Structured Settlement?

Structured Settlements | What Is a Structured Settlement? (4structures.com)

What is a "Judgement"?

The usage of judgment in American English is more acceptable spelling than judgement. However, UK spelling also accepts this word in their dictionaries. You should also use this spelling in legal proceedings and documents. For example:

• You made a hasty judgment of her ethnicity.
• The three types of judgment are a confession of judgment, consent judgment, and default judgment.

Judgement also means decision or opinion. However, this spelling is only correct in British writing. It’s also mostly used in the non-legal context, as recommended by the Oxford style guide  Source : Judgement vs. Judgment - What's the Difference? (grammarist.com)

Now that we've got THAT out of the way... What is a Judgment?

Judgment means the final decision made by a court or tribunal. After the judges consider all the relevant evidence of the legal trial and consider al rights and obligations, the plaintiff and defendant will receive the final ruling. This judgment could end the potential or existing dispute among the dispute parties by listing which side was ruled in favor of, and listing what remedies are to be awarded. According to U.S.C.§636(c)(3), each party could appeal directly to the court of appeals against the existing judgment.  Source: Legal Information Institute Cornell Law School

What is a Judgment in Texas?

In Part V of these Rules of Civil Procedure:

(p) "Judgment" is a final order by the court that states the relief, if any, a party is entitled to or must provide.

Source: Case Text Tex. R. Civ. P. 500.2  Amended January 27, 2023, effective 2/1/2023.

What is a Friendly Suit in Texas?

A “friendly suit” is a lawsuit that is filed or disposed of as the result of a negotiated settlement. These settlements are usually based on personal injury claims. In Texas, the requirement for the disposition of  friendly suit are outlined by the Court. For example, if you're in Houston Texas, which is located in Tarrant County, MinorProveUp.pdf (tarrantcountytx.gov). The parties involved in the suit file a joint motion asking the court to issue a judgment pursuant to the terms of the settlement agreement. The minor child is then bound by the judgment and cannot argue incapacity that would render a settlement void.

Is a Judgment a Settlement in New York?

• A judgment is not a settlement in New York  See  Judgments | NY CourtHelp (nycourts.gov)
• A structured judgment pursuant to CPLR Articles 50A or 50B is not a stuctured settlement.
• A judge must approve a settlement where a minor or incompetent is involved or in death claims involving an Estate.

Is a Judgment a Settlement in Connecticut?

• A judgment is not a settlement in Connecticut
• Judgment: A court decision. Also called a decree or an order.
• Settlement:   Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Source: Connecticut General Statutes 52-195c

Structured Settlements FAQ | Ask John Darer Anything About Structured Settlements (4structures.com)

 

 

 

 

 

 

JG Wentworth is Subject of Money Maker Mag's Loud AI Driven Explosive Word Fart

by Structured Settlement Watchdog

This is a Meme. Not a JG Wentworth ad

JG Wentworth "Babble-on"

Metaphorically speaking, Money Maker Magazine's work about JG Wentworth is about as over the top as the opening scene of the 2022 movie "Babylon" which showcases the challenge of transporting the proverbial "elephant in the room" to a house up a hill using a rickety 1920s era truck, with "explosive" results. See Babylon’s wild elephant poop scene took an ungodly amount of work - Polygon.

Here instead of pachyderm, the subject is JGWentworth, the structured settlement secondary market's figurative 800 lb Gorilla  that falls well short of reality. Money Maker Magazine demonstrates that it's a puffery dispensary on this showing. Money Marker Magazine's astounding lack of attention to detail makes JG Wentworth look ridiculous for anyone that knows.

A. "The Journey of JG Wentworth: Pioneering Structured Settlement Solutions"

CLAIM

"For decades, they’ve carved out a name as a steadfast ally for folks navigating the complexities of financial windfalls. Here’s the scoop on how they became the go-to experts

• JG Wentworth started off with a bang, cutting through the financial jargon to offer clear-cut solutions.
• They’ve been riding the wave of success, constantly evolving their services to meet the changing needs of their clients in structured settlements.

FLAWS:

1. Argle-Bargle. JG Wentworth does not provide financial advice by its own admission. See below. That has not stopped JG Wentworth from being promoted as "Structured Settlement Brokers" using Google Adwords.
2. Cash, cash and more cash is not a steadfast ally for folks navigating the complexities of financial windfalls. And oh yeah (in case you missed #1), JG Wentworth, by its own admission (in the legal declaimers on its website-see below) states it does not provide financial advice.
3. Cash, cash and more cash, varying in the degree of "pennies on the dollar", are three solutions that do not require a sophisticated GPS.
4. To the extent that JG Wentworth has the lowest cost of money at a particular point in time, if a customer shops around and comes back to JG Wentworth they will usually get a more competitive deal than its first quote.
5. I suppose two bankruptcies while surfing the "wave of success" is really "shooting the curl" puff daddy.

B. "JG Wentworth’s Approach to Structured Settlements"

• JG Wentworth steps up to the plate, offering up their signature blend of customer care and savvy financial advice.

FLAWS: 

1. Are we speaking about a baseball game, a salad dressing, coffee beans, a Bordeaux blend (I was just there in August), or perhaps a Chianti or Amarone? Maybe just a spirulina smoothie.
2. Oh yeah, JG Wentworth does not provide legal, financial or tax advice by its own admission. See for yourself!

Image retrieved for critical commentary 11-25-2023. No Copyright claimed. 

C. "How JG Wentworth Has Shaped the Structured Settlement Industry"

"Before JG Wentworth stepped into the spotlight, the structured settlement industry was like a wild frontier. Now, let’s journey through their industry-changing influence:

• It’s like comparing apples and oranges when you look at industry standards pre and post-JG Wentworth’s era.
• Crack open the case studies, and you’ll find the undeniable mark they’ve left behind".

FLAWS: 

1. Given that they’ve "been around since the peachy days of 1991", JG Wentworth could not have played  a role (and did not play a role)  in Private Letter Rulings, the Periodic Payment Settlement Act of 1982, the establishment of IRC 104(a)(1), IRC 104(a)(2), IRC 130. 
2. The insinuation that J.G. Wentworth has anything to do with the primary structured settlement market, its origins or market place standards, is just an elephant sized serving of poo poo stew.
3. Ironically Peachtree Settlement Funding, has been a member of the JG Wenwtorth family since July 12, 2011. But Peachtree was not established until 1996. An example of industry standards in the JG Wenwtorth era Illinois Supreme Court Tosses Brenston "Turkey" at Peachtree - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)
4. Arguably the efforts of JG Wentworth and similar companies included directly or through proxies, attempts to adopt and usurp primary market terms and served at times to confuse consumers and judges. 
5. There is little regulation of the structured settlement secondary market, especially its participants. Just a few states require registration of transferees and then in response to some national or regional news story in the mainstream press  [see, for example, Minnesota, South Carolina, Louisiana, Maryland, Florida, Virginia]

D. JG Wentworth and Strategic Financial Planning

"Let’s not beat around the bush; integrating structured settlements into your financial plan is a brilliant move.

• JG Wentworth’s foresight has helped many turn structured settlements into a cornerstone of their financial future.
• Testimonials overflow with praise, hailing JG Wentworth’s masterstroke advice and services. Like a Dior Lip oil at a TS concert".

FLAWS: 

1. How about not bullcrapping consumers? J.G.Wentworth is not a licensed financial advisor or insurance agent by its own admission and cannot offer financial advice  [ AI driven BS impeached by irrefutable statement on the JG Wentworth website as you can see above discovered by Google search]
2. JG Wentworth does not place structured settlement annuities
3. Great analogy. Dior Lip oil and the dubious JG Wentworth promotion on display.  Both are used to plump it up.

E. Breaking Down JG Wentworth’s Structured Settlement Process

"Wading through the process of obtaining a structured settlement can feel like navigating a labyrinth. But fear not, here’s the lowdown with JG Wentworth:

• Step one, two, and beyond – JG Wentworth’s process unraveled.
• A picture says a thousand words, and the visual aids here speak volumes".

FLAW: 

1. J.G. Wentworth by its own admission, is not licensed and does not provide financial advice.  J.G. Wentworth has no role in "obtaining a structured settlement". 
2. Couldnt agree more on a picture saying a thousand words, as you can see the above excerpt of a clear legal disclosure from J.G. Wentworth's website which renders the Money Maker Magazine puff piece useless in less than a few words. Why waste resources when you can do it with a lower carbon footprint eh?
3. We clearly demonstrate the virtue of concise and informative vs.blah, blah, blah!

F. Analyzing JG Wentworth’s Structured Settlement Success Stories

"Nothing speaks louder than success, and JG Wentworth‘s track record is chock-full of them: 

• It’s like thumbing through a rapper Drake photo album, they say, each customer profile tells a story of financial transformation.
• Satisfaction and financial health metrics post-JG Wentworth’s touch are off the charts".

FLAW: Success means two bankruptcies, the first in May 2009. On November 8, 2017, J.G. Wentworth filed for Chapter 11 bankruptcy for the second time in nine years. JGWE stock plummeted as much as eighty-seven percent on November 10, 2017. JGWE literally was OFF the charts! But the 800 lb gorilla is resilient.

What is JGW Connects?  (NEW DEVELOPMENT)

JG Wentworth is now using its well recognized brand to advertise other products and services through JGW Connects.

However, according to the JG Wentworth website, JGW Connects does not provide ANY of the products or services advertised and does not make any decisions regarding your eligibility for those products or services. All decisions regarding approval or denial of a particular product or service are the responsibility of the participating company and will vary based upon your particular financial situation, and criteria determined by the company to whom you are matched. Not all consumers will qualify for the advertised rates and terms.

Any information provided on this site is for educational purposes only. JGW Connects, LLC is not an agent of you or any third party advertiser on this website. You should rely on your own judgement in deciding which available product, terms and provider that best suits your personal financial requirements. We (JGW)  do not offer financial advice, advisory or brokerage services. We recommend that you consult with your own independent advisors regarding these products and services.

Last updated November 26, 2023

Paul Tudor Jones "Plenty of Room to Raise Taxes, Change Social Security, Cut Health Insurance"

by John Darer CLU ChFC MSSC CeFT RSP CLTC

All the More Reason to Structure Your Settlement or Structure Your Attorney Fees!

Paul Tudor Jones II, the billionaire hedge fund manager is quoted as saying

'There's plenty of room to raise taxes': This billionaire says the US will need to change Social Security, cut federal health insurance to deal with a worsening debt crisis — are you ready? (msn.com)

Higher taxes make structured settlement tax advantages inherently more valuable 

If you lock in a 5% income tax-free rate (IRR) now, what is that worth if tax rates go up? Check out this free resource from 4structures.com LLC in Stamford CT.

Tax Advantages of Structured Settlements | Taxable Equivalent Yield Chart (4structures.com)

• 5% in a 28% bracket is the equivalent to  6.94% taxable
• 5% in a 33% bracket is the equivalent to  7.46% taxable
• 5% in a 35% bracket is the equivalent to  7.69% taxable
• 5% in a 40% bracket is the equivalent to  8.47% taxable

Structured Settlements | What Is a Structured Settlement? (4structures.com)

New York Structured Settlements Experts | Settlement Consulting (4structures.com)

London Market Structured Settlement Experts (4structures.com)

Structured Attorney Fees and Attorney Fee Deferral Experts | 4structures.com LLC

Plantiff Encounters of the Irreverent Mind

by John Darer CLU ChFC MSSC CeFT RSP CLTC 

Plantiff Encounters of the Irreverent Mind

John Darer reviews the latest collection of plantiff encounters. 

I admit it's a bit "hedgy"

"Plantiff Hollywood"

In the IMDB write up on The Trial a 2023 comedy short about a Courtship goes to court. As a trial relationship ends, two lovers go to court to determine - was their romance was sabotaged, or doomed from the start?  Actress Hollis Welsh is listed as the "Plantiff Attorney".  The Trial (Short 2023) - IMDb. (11/22/2023)

" Lead Plantiff Deadline"

The Class Action law firm  of Bragar Eagel & Squire, P.C lists a baker's dozen of new securities cases where there is a deadline for "lead plantiffs". One would hate to make a false equivalency of course, but a lead "plaintiff"is the individual whose name goes on the lawsuit and who represents the entire group of people who were allegedly harmed by the defendant’s (or defendants’) wrongdoing  Source: classaction.org.  Extending the rights of plants here as part of a "Green New Deal" is an innovative approach that may propel the law firm to  "Topiary of its Class".

Hofstra Law Alums 2023 Next Gen "Plantiff Securities Litigation" Law Dragons

William J. Geddish (2009)  and Michael G. Capeci were named to the 2023 Lawdragon 500 X – The Next Generation’s inaugural guide in plantiff securities litigation. Source: Hoftstra Law News 11/22/2023.  The Hempstead New York law school's recognition of these honored chaps is the inspiration for the above meme.

Does Beaver County, Pennsylvania Really Have Custody Hearings for Saplings?

Form found on the Beaver County website, to be submitted to prothonotary. lists "plaintiffs" who are "represented" by "Plantiff" lawyer. Plants and people litigating together. Things really need to be spruced up in Beaver. So "a-gnawing"    

The word prothonotary is recorded in English since 1447, as "principal clerk of a court".

Safe to say it's unlikely that anyone will beat Georgia's Henry County Judge Amanda R. Flora, a veritable rockstar Warrior for Wayward Vowels, going back to November 2019, as I demonstrated in September.  Henry County Georgia's "Plantiff Docket" Record 10 pages of Plantiff Cases September 19th! - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

 

 

 

 

 

 

 

J.G. Wentworth Massive Costume Blooper Muddles Vikings with Order of the Water Buffalo

by Structured Settlement Watchdog

Did JG Wentworth's ad team run out of Viking hats and resort to the noggin' toppers of the Modern Stone Age "Order of the Water Buffalo"?  When reached for comment, Fred and Barney exclaimed in unison "How Hanna and Barberassing!"

NOW, watch carefully for the JG Wentworth chorus          (see right below)

,

Source: JG Wentworth YouTube Channel

But the JG Wentworth Blooper Doesn't End There

The popular image of the Vikings is one of fearsome warriors wearing horned helmets. Many depictions of the Vikings display this particular attribute. However, there is only one preserved helmet from the Viking Age and this does not have horns. It was found in the Norwegian warrior’s burial at Gjermundbu, north of Oslo, together with the only complete suit of chain mail from the period.  Source: National Museum of Denmark Copenhagen Denmark

Horned helmets would also have caused problems on board the warships, where space was already at a premium. In addition, none of the contemporary sources mention Vikings wearing horned headgear. See  Helmets (natmus.dk)

The "Doepler Effect"

Carl Emil Doepler created horned helmets for the Viking characters in a Wagner opera in 1870, and an enduring stereotype was born.  See Did Vikings really wear horned helmets? | HISTORY,  by Elizabeth Nix, also "Romanticized Viking Revival" Holman, Katherine (2003). Historical Dictionary of the Vikings. Oxford, UK: The Scarecrow Press. ISBN 0-8108-4859-7.

Romanticized means "deal with or describe in an idealized or unrealistic fashion; make (something) seem better or more appealing than it really is.   Source: Oxford Languages

While JG Wentworth's Viking Opera ads are undoubtably memorable. They are memorably inauthentic.

 

 

 

 

 

Does the Structured Settlement Annuity Contract Transfer When You Deal With JG Wentworth or Lump Sum Funders?

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Can you Sell a Structured Settlement Annuity Contract? 

Nope. However, a highly credentialed but mistaken settlement planner says you can, in a discussion of "the process of selling a structured settlement" found on their website at time of publication.

"Transferring the annuity contract: Once the court approves the sale, the annuity contract is transferred to the funding company, and the claimant receives their lump-sum payment" they say.

What is the Annuity Contract in a Structured Settlement?

The annuity contract in a structured settlement is a qualified funding asset as defined in the Internal Revenue Code Section 130(d).

Who Owns the Annuity Contract in a Structured Settlement?

The annuity contract in a structured settlement is typically owned as a qualified funding asset by a qualified assignment company. In certain cases, such as with claims settled under the Federal Tort Claims Act (FTCA), the structured settlement annuity is owned by the Defendant

What is a Qualified Assignment Company?

A qualified assignment company is a special purpose company that serves as the fulcrum of a structured settlement transaction. Please refer to the Step 2 and Step 3 in the structured settlement flow chart below. 

Structured settlement documentation makes clear that the payee has no rights of ownership in the qualified funding asset. 

But companies like JG Wentworth must be buying something if all these people have been scoring all that "cash now". What the heck are they buying?  The magic words are "structured settlement payment rights" or " structured settlement receivables". What do factoring companies sell to investors?

Think "Receivables Purchase Agreement" not " Buying an Annuity".

So if you're raising cash from your structured settlement you are selling receivables or structured settlement payment rights.

Fellow settlement planners and structured settlement consultants,  please be mindful of inaccuracies.

 

 

 

 

 

 

 

 

Brook Chase (1966-2023) 1988 NCAA Lacrosse National Champ and Structured Settlement Advisor

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Brook Chase, a Syracuse University Lacrosse national champion and a structured settlement advisor in Syracuse and Tallahassee, friend and well-liked industry colleague has died at his home in  Jacksonville Florida. He was 57 and a proud father of 4.

Brook Chase was a national championship winner with Syracuse in 1988

In his sophomore year at Syracuse, my alma mater, Brook scored 2 goals in the Orange victory over Cornell to win the 1988 NCAA National Championship game. SYRACUSE WINS LACROSSE CHAMPIONSHIP, 13-8 - The Washington Post

In the past 20 years, Brook was a settlement advisor with a number of firms, Brant Hickey & Associates, SFA, and the last decade with Ringler Associates. He was a Certified Structured Settlement Consultant and a member of the National Structured Settlements Trade Association.

We took the Certified Medicare Secondary Payer course together, in New Orleans in 2011, and over the years found ourselves on the opposite sides of cases, always an enjoyable experience. Brook often sounded me out for advice and for more than 2 decades, I could count on a call from Brook on a Saturday or Sunday to discuss what was happening in the Premier League as well as a midweek text if something good was going on the UEFA Champions League. 

Godspeed my friend!

Update

A Celebration of the Life of Brook Chase will be held at a future date.

Stephen E. Chase, Jr. Obituary 2023 - Quinn-Shalz Family Funeral Home & Cremation Centre

Last updated November 15, 2023

Plummer's Annuity Expert Advice Fails Structured Settlement Fundamentals

by Structured Settlement Watchdog

Ownership of Structured Settlement Annuity Policy Fail by Plummer

Shawn Plummer claims that "the defendant or insurance company typically owns the annuity policy in a structured settlement.The annuity policy ensures the company remains solvent and can fulfill its obligation to the claimant".

Crap research will not be tolerated

Plummer's explanation fails for the following reasons:

1. It is atypical for a defendant or its insurer to own a structured settlement annuity. A representative of one of the major life insurance companies that has been issuing structured settlement annuities for many years, tells me that less than 5% of transactions are so-called "buy and holds". 

One example of where a defendant might own an annuity is where the United States buys and owns structured settlement annuities for claims brought under the Federal Tort Claims Act (FTCA).

2. The annuity policy DOES NOT ensure that the defendant or insurance company remains solvent. If the Defendant were to own the annuity policy and the Defendant were to go bankrupt, the annuitant would be a general creditor of the Defendant. 

3. Insurers are highly regulated in each state they are admitted and must maintain reserves. Such reserves are subject to regular statutory filings. But the annuity policy itself does not ensure solvency.  Hard to believe that a licensed insurance agent like Plummer would actually publish that.

Why Must Structured Settlements be Court-Approved Fail by Plummer

Shawn Plummer asserts that "The Federal Periodic Payment Settlement Act of 1982 made it mandatory for court approval on all sales of structured settlements to ensure the consumer’s best interest is put first and limit any party from taking advantage of the settlement recipient"

Plummer's assertion is a fail because the plain reading of the Periodic Payment Settlement Act of 1982 says nothing of the sort.  See  Periodic Payment Settlement Act of 1982 | Birth of Qualified Assignments and Codified IRS Rulings - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

On the other hand, per 26 U.S.C. § 5891 - U.S. Code Title 26. Internal Revenue Code § 5891m, a qualified order IS required, in order for a purchaser of structured settlement payment rights to avoid a 40% excise tax on the factoring discount. 

IRC section 5891(a) imposes a tax equal to 40% of the factoring discount on any person "who acquires directly or indirectly structured settlement payment rights in a structured settlement factoring transaction that does not qualify for exemption under conditions that are specified in section 5891(b)  Source: IRS.gov

Plummer is clearly uninformed about structured settlements and Plummer is not a credible source for information about structured settlements

I've previously reviewed Shawn Plummer's efforts over nearly 2 years that support my opinion that Plummer is clearly uninformed about structured settlements and that Plummer is not a credible source for information about structured settlements.

It's a shame really, because all the correct and accurate information is out there. My interest in the capacity of Structured Settlement Watchdog is to give consumers a clear pathway to accurate information about structured settlements. 

John Darer Reviews "Annuity Expert Advice" Website's Multiple Structured Settlement Inaccuracies - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)  February 2023

AnnuityExpertAdvice.Com on Secondary Market Annuity is Just "Plummer's Crack" - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com) February 2022

 

 

Can Structured Attorney Fees Be Paid to a Law Firm?

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Structured attorney fees and other attorney fee deferral options are available to contingency fee lawyers and a valuable financial planning option for contingency fee lawyers.

It's just batty how good structured settlement rates are right now

Structured attorney fees can be arranged to pay to individual lawyers, to lawyers in a solo practice, to partners in a law firm, or the law firm entity.

Lots of options are available for attorneys who plan ahead. If you've never structured attorneye fees before there is some foundational work that needs to be done. Don't wait until December 30th!

Broadly speaking attorneys have:

• Fixed options
• Index Linked options
• Market Based options

For more details

1. Click the following link and/or watch the video below in which John Darer Reviews structured attorney fees and attorney fee deferrals;
2. Watch the video in which John Darer reviews and explains the spectrum of attornye fee deferral options
3. Call John Darer at 888-325-8640 to disccuss your options.

Structured Attorney Fees and Attorney Fee Deferral Experts | 4structures.com LLC

 

John Darer CLU ChFC MSSC CeFT RSP CLTC has over 40 years experience in financial services and 30 in the structured settlement and settlement planning space.

AM Best Client Recommended Structured Settlement Expert 2023 (11th consecutive year*) Better Business Bureau Accredited Business A+ Rating 19+ Years*

*Achieved for each consecutive year from start for each of these. 

John Darer holds insurance licenses in these states AK, AL, AZ, CA (0761076), CO, CT, DE, FL, GA, HI, IL, IN, KY, KS, LA, MA, ME, MI, MN, MO, MS, MT,  NC, NH, NM, NJ, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV and Washington DC, at time of posting.

Do All Annuity Issuers Pay Structured Settlement Consultants the Same?

by Structured Settlement Watchdog

How Does Structured Settlement Broker Get Paid? Who Pays It? - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

At time of posting we note that one of the companies in the industry, responding to about how its consultants get paid, states on its website that its consultants

"don’t take any money from the injured party, their attorney, or the insurance carrier. Consultants get a commission from the annuity issuer, and they all pay us the same! So, there’s no benefit to promoting one company over another. Our job is to make sure we find the best fit for the client – we’re getting paid the same amount either way..." they say.

Food for Thought...  

A. Not all structured settlement annuity issuers pay the same, but most do

See my November 6, 2021 blog about Independent Life's unique in the industry Duration Based Structured Settlement Compensation Model (4structures.com)

It's possible that the broker in question is not appointed with Independent Life. If so, that's certainly OK. It's their choice. 

B. The statement does not delineate whether it refers solely to structured settlement annuities.

Following are examples of periodic payment solutions that have different compensation options and/or fees than annuities. 

• Funding Agreement Structured Settlement for Taxable Damages (4structures.com)
• Treasury Funded Structured Settlements | 4structures®
• Assura Trust | Market Based Structured Settlement Option | (4structures.com)
• Settlements Plus/Fee Structure Plus (Structured Assignments)
• Havelet Assignment Company (4structures.com)

Some include variable compensation options.

 

 

What Does KYC Have to Do With Structured Settlement Receivables and Reassignments?

by Structured Settlement Watchdog

What is Know Your Customer?

Know Your Customer (KYC) is a set of guidelines and regulations in the financial services industry that  require professionals to verify the identity, suitability, and risks involved wit h maintaining a business relationship with a customer. KYC processes are employed by companies of all sizes to ensure their proposed customers, agents, consultants, or distributors are anti-bribery compliant and are actually who they claim to be.

KYC origin can be traced back to the 2001 Title III of the Patriot Act in the United States

The act provided various tools to prevent terrorist activities and required financial institutions to implement a mandatory framework for customer identification.

KYC procedures fit within the broader scope of anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. Banks, insurers, export creditors, and other financial institutions are increasingly required to make sure that customers provide detailed due diligence information.

KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed customers, agents, consultants, or distributors are anti-bribery compliant and are actually who they claim to be

Source: CDD Final Rule | FinCEN.gov

The Know Your Client Process Recently Came Up in a Texas Dispute about Reassignment of Factored Structured Settlement Receivables

"Each Genex RPA contains anti-assignment language barring Genex Investors from reassigning receivable payments allocated to them through the Genex servicing process absent notice to Genex and Genex’s express consent. This restriction is designed to protect both Genex as well as Genex’s Investors. It protects Genex by preserving Genex’s ability to complete government required “know your client” processes. It also ensures certainty of payee to minimize the risk that the wrong person gets paid by Genex and/or the insurance issuer/owner. This is particularly important given that Genex has ongoing indemnity obligations owed to issuers and owners such as Prudential. Importantly, the restriction also protects Genex Investors so they do not fall prey to unscrupulous opportunists who may solicit them to sell for less than fair market value, a situation that occurs only too frequently in the structured settlement secondary marketplace".

[see In Re: Juan Oltivero Cause No. B9545-1211 In the District Court of Castro County, Texas, 242nd Judicial District Genex Capital Corporation First Amended Cross Claim and Second Supplemental Petition Against Third Party Defendants Stratcap Investments, Inc., David Meyerowitz and Douglas M. Evans and Intervenor New England Annuity Associates, LLC  filed October 4, 2023]

The Oltiveros case points raised concerning KYC are similar to those raised in Genex CEO Roger Proctor's January 3, 2022 Declaration in a pending Arizona case

To wit, following is an excerpt of my March 2, 2022 update:

"Point #3

As a critical part of its business, Proctor states that

"Genex must review the background and suitability of all prospective investors to ensure compliance with a plethora of laws and regulations, including anti-money laundering laws, financial-disclosure requirements, and other rules that prevent unlawful financial transactions

Genex also must determine investor suitability in accordance with its “know your client” protocols, consistent with, among other rules, Financial Industry Regulatory Authority Rule 2090 and Rule 2011"

FINRA Rule 2090 mandates that member firms must “use reasonable diligence, in regard to the opening and maintenance of every account, to know (and retain) the essential facts concerning every customer and concerning the authority of each person acting on behalf of such customer.”

FINRA Rule 2111 requires that a broker have a "reasonable basis" to believe that a recommended transaction or investment strategy is "suitable for the customer" based on facts obtained through "reasonable diligence." This rule is aimed at remedying past abuses and "yield-chasing" behavior in brokers at a client's expense

Then there is FINRA 2210 which covers advertising. 

Who is Covered by FINRA Rules?

Because FINRA oversees workers within the financial industry, its rules primarily apply to brokers and financial advisors. Anyone who buys or sells stocks or securities on behalf of clients is required to get certification, register their name and address, and follow other requirements. To follow these requirements, these professionals must go through FINRA, which means putting nearly every stockbroker or financial advisor under FINRA’s authority.

Specifically, FINRA’s regulations govern “broker-dealers.” This is a broad term used to encompass both agents of financial transactions as well as those who trade for themselves or their firm. For instance, if your stockbroker buys stocks for you, they would be acting as a broker, but if they perform transactions for their brokerage firm’s own accounts, they function as a dealer instead. Regardless, FINRA covers both of these types of professionals, creating rules and regulations to govern their actions.

Under the terms of the agreement between Genex and Seeley and Bulbrook, which Genex acknowledges was consummated on an oral agreement and handshake and not a written contract, in every instance where a new investor sought to purchase a Genex Receivable, Seeley and Bulbrook were responsible for completing the “know your client” protocols approved by Genex, facilitating the completion of an investor suitability form, providing a copy of the Bulbrook Buyer’s Guide approved by Genex, and obtaining required signatures on the RPA, all of which documents were either drafted by Genex or approved by Genex. From time to time, Genex sought proof that these requirements were being satisfied and at no time during the relationship didGenex have concerns about same.

While I was unable to locate the name of Genex Capital Corporation, Genex Strategies or Roger Proctor on FINRA Broker Check or the IAPD database, it is good to see that the Genex Capital CEO aspires to FINRA standards.  Did/Does Genex consider the products it offers/distributes to be securities? It sure would be great to see them regulated.

POINT #4

Proctor states that "Genex owes obligations to the Annuity Issuers, and to Annuity Owners/Obligors throughout the term of each Receivable transaction as specified in each court order. In light of these obligations, it is a critical to Genex that it understand the transaction history for all Receivables, ensure that its records are complete and accurate, control downstream further assignments, and know at all times the identity of the legitimate end Payee".  [ Decl. of Roger Proctor January 3, 2022, at 24] He states that "Uncontrolled, unapproved, or secret transactions bypassing Genex’s oversight puts Genex at risk of possibly directing payment to the wrong person, double payments, fraud and confusion".  [Decl of Roger Proctor 1/3/2022 at 25]

IN THE SUPERIOR COURT OF THE STATE OF ARIZONA
IN AND FOR THE COUNTY OF MARICOPA
GENEX CAPITAL CORPORATION, a Delaware corporation; Plaintiff,
vs.
SEELEY CAPITAL MANAGEMENT, INC., a Massachusetts corporation; et al.,Defendants.
Case Nos: CV2020-004958 CV2020-013796 (Consolidated)
DECLARATION OF ROGER PROCTOR IN SUPPORT OF GENEX’S RESPONSE TO SEELEY DEFENDANTS’ MOTION FOR PARTIAL SUMMARY JUDGMENT
AND RELATED COUNTERCLAIM. RICHARD L. KEEFER and VICKI L. KEEFER, husband and wife; et al., Plaintiffs,
vs.
GENEX CAPITAL CORPORATION, a Delaware corporation; et al., Defendants".

 

 

 

 

 

"When Big Risk Big Rewards No Longer Make Sense" But Annuity.Org Promotes B++ MYGA

by John Darer CLU ChFC MSSC CeFT RSP CLTC

When Big Risk Big Rewards No Longer Makes Sense But Neither Does Annuity.org's Advertising

Annuity.org's is feeding its Ying by heavily promoting annuities, using the tag line "When Big Risk Big Rewards No Longer Make Sense" at the same time it is feeding its Yang by (1) soliciting structured settlement annuitants to part with their structured settlement payments for what amounts to pennies on the dollar and (2) lists its top MYGA offering as a 10 Year fixed rate of 6% from a B++ rated company.

What is a MYGA?

A multi-year guaranteed annuity, or MYGA, offers a predetermined and contractually guaranteed interest rate for a fixed period of time.

According to A.M. Best a B++ rating represents companies  that "are stable but have room for improvement. The long-term outlook may be unsure". Synonyms for unsure include lacking confidence, equivocating,..just the type of words that might cause an annuity prospect to question. See 35 Synonyms & Antonyms of UNSURE | Merriam-Webster Thesaurus

Is "may be unsure" a risk? What Do Professonal E&O Carriers Think?

"Virtually all E&O carriers place some type of insurer exclusion on their policies, either in the exclusions section of the basic form or by endorsement. E&O carriers have come to the conclusion that an agent's selection of insurers to represent and place business with is wholly within the agent's control. If the agent places business with a company that has a poor financial rating or no rating at all, E&O carriers believe it is a risk that the agent has assumed. However, the exclusions vary significantly from one insurer to another. Some policies exclude any E&O claim arising out of placement with a low-rated or unrated insurer, even if the insurer is solvent. You need to take a look at your own policy, or any prospective policy, to determine the exact scope of the insurer exclusion.

Ask the following questions. (1) What is the Best rating threshold for application of the exclusion? Some exclusions apply if the insurer is rated less than "B" while others apply a threshold as high as "A-." (2) Does the exclusion apply to claims arising out of placement with such a carrier (a) whether it is insolvent or not (worst) or, (b) when it becomes insolvent, even if the claim against the agency does not arise out of the insolvency (bad), or (c) the insurer's inability to pay a claim due to insolvency (better)? (3) Does the exclusion apply even if the insurer had a favorable rating at the time of placement but later became insolvent (bad), or only if the insurer's rating didn't meet the threshold at the time the policy was placed (better)? (4) Are there any other exceptions to the exclusion? In addition to a Best-rating threshold, many E&O policies include an exception for insurers protected by a state guaranty fund".  See Ten Things You Don't Want to See in Your E&O Policy | IIAT #3

 

 

Do Structured Settlement Payments Need to Be Equal Payments?

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Do Structured Settlement Payments Need to Be Equal Payments?

1. Qualified Structured Settlement Payments

• Generally qualified structured settlement payments can be equal or unequal
• There are many different types of structured settlement payments to choose from.  See Types of Structured Settlement Payments | Your Structured Settlement Payment Options (4structures.com)
• You can combine different types of cash flows to suit your needs, in a single contract if you wish.

2. Non Qualified Structured Settlement Payments

• IRC Section 72(u)(1)  "The Non Natural Person Rule"
• The so called "Non Natural Person Rule" provides that "if an annuity contract is held by a person who is not a natural person, then such contract shall not be treated as an annuity contract for purposes of subtitle A (other than subchapter L) and the income on the contract for any taxable year of the policyholder shall be treated as ordinary income received or accrued by the owner during such taxable year
• As an exception to the " non-natural person rule, payments must be substantially equal within the meaning of IRC 72(u)(4).

IRC 72(u)(4) Definition of Immediate Annuity

For purposes of this subsection, the term “immediate annuity” means an annuity—

• 72(u)(4)(A) 

  Which is purchased with a single premium or annuity consideration,

• 72(u)(4)(B) 

  The annuity starting date (as defined in subsection (c)(4)) of which commences no later than 1 year from the date of the purchase of the annuity, and

• 72(u)(4)(C) 

  Which provides for a series of substantially equal periodic payments (to be made not less frequently than annually) during the annuity period.

 

In the structured settlement space, this applies where a domestic (US) non qualified assignment is funded with an annuity, where the annuity is owned by a non-natural person.  

Examples

AGL Assignments, LLC is the non qualified assignment company for Corebridge subsidiaries  American General Life Insurance Company and United States Life Insurance Company in the City of New York  (NY cases) and is registered in Delaware.

MetLife Assignment Company, Inc. is an assignment company, registered in Delaware, that handles both qualified and non qualified assignments where Metropolitan Tower Life annuity is the issuer of an annuity owned by MetLife Assignment Company, Inc.

Are There Any Workarounds to IRC 72(u)?

Non Qualified Assignments Where Funding Asset is Not an Annuity

AGL Assignments, LLC is the non qualified assignment company for Corebridge subsidiaries American General Life Insurance Company and United States Life Insurance Company in the City of New York  (NY cases). A non qualified structured settlement solution is available in all states except Pennsylvania, using a Funding Agreement instead of an annuity. The Funding Agreement is not an annuity.

Reinsurance Structured Settlements

Periodic Payment Reinsurance | Reinsurance Structured Settlements 2023 (4structures.com)

Use of Non-Domestic Assignment Companies

• Structured Assignments, SCC Barbados
• Havelet Assignment Company -Barbados
• Dominion Assignment (Switzerland) for Independent Life's iStructure Dominion Assignment Company - Independent Life
• Kenmare Assignments  (Ireland)

Last updated November 13, 2023

 

 

 

Citing Not a Single Structured Settlement Expert, BIng AI Is Way Off The Mark

by John Darer CLU ChFC MSSC CeFT RSP CLTC

The utility of AI as a credible structured settlement information resource for consumers has again come into question as a search for the advantages and disadvantages of structured settlements produced glaring inaccuracies and sourced information from non-experts and a secondary market source known for its shoddy research, as I've highlighted for years.

A Gentle Rebuttal

Stuart Gentle is a publisher at Onrec in the UK. Citing not a single structured settlement expert, Gentle has produced an absolute howler that purports to be about structured settlements and appears to be a backlink SEO effort for Cesar Ornelas law of El Paso Texas and Annuity.org.  In the game of "information football", a stadium full of English football fans would rightly chant "you don't know what you're doing"

Stuart Gentle's Howlers on Disadvantages of Structured Settlements

1. "Structured settlements have several potential drawbacks. For one thing, the payments may be less than what the injured person could have received if they had accepted a lump sum payout"

Comment

a. Stuart Gentle makes the howler without any reference or support, failing to account for the tax advantages of structured settlements over a lump sum payout. Structured settlement provide a level of certainty that a lump sum doesn't. The thing that Americans worry about the most is money, or has to do with money.

2. "Another downside is that the payments may be taxable"

Comments:   

a. The majority of structured settlements involve damages that are not taxable, excluded under IRC 104(a)(1) workers comp and IRC 104(a)(2), for personal physical injury, physical sickness and wrongful death. 

Structured Settlements | What Is a Structured Settlement? (4structures.com)

Tax Advantages of Structured Settlements | Taxable Equivalent Yield Chart (4structures.com)

b. Structured settlements can be used to pay for taxable damages or non-taxed damages that don't qualify under IRC 104(a)(1) or IRC 104(a)(2). See

What are Non Qualified Structured Settlements and Non Qualified Assignments for Tax Deferral (4structures.com)

c. If damages are taxable Stuart Gentle's lump sum v structured reasoning is nonsense. If the damages are taxable, a lump sum means that there will be less to invest because the lump sum will be also be taxable. And if you're not going

Considering that one of the Onrec link beneficary is the Cesar Ornelas personal injury law firm in El Paso Texas, perhaps it deserves its money back, in my opinion.

3. Says Gentle... "Annuities fund structured settlements. An annuity is a contract between an individual and an insurance company. The individual agrees to make payments to the insurance company for a specified period, and in return, the insurance company agrees to make periodic payments to the individual".

If this were an English football match and Stuart Gentle were the referee or coach, tens of thousands of fans would be chanting  in unison "you don't know what you're doing" Stuart Gentle does not know what he's writing about. Stuart Gentle clearly has no grasp of the fundamentals of structured settlements and how they are established.

4. Says Stuart Gentle "There are two main types of structured settlements: present value and future value. Present value settlements are paid out over a shorter period, typically five years or less. On the other hand, future value settlements are paid out over a longer period, often 20 years or more".

Present value and future value are finance terms not types of structured settlements.

See Types of Structured Settlement Payments | Your Structured Settlement Payment Options (4structures.com)

 

Why Does NJ Insurance Agency Claim Secondary Market Annuities Involve POLICY transfers?

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Licensed Life Insurance Agent Hersch Stern is a very bright guy, long time licensed insurance agent and a general agent for many life insurance companies in Englishtown New Jersey. 

Stern's company website at ImmediateAnnuities(dot)com makes an inaccurate claim about structured settlement transfers

"Secondary Market Annuities (SMAs) are policies being transferred by an annuitant pursuant to state transfer laws. Annuities listed are subject to prior purchase, prior sale, or withdrawal by seller. Interest, payments, and prices are calculated using industry standards".  ImmediateAnnuities(dot)com

Where Immediate Annuities.com is not accurate about Structured Settlement Receivables

• Referring to assigned structured settlement payment rights as an annuity or annuities is inaccurate.
• A structured settlement factoring transaction does not involve any transfer of annuity policies.
• A structured settlement transfer does not involve the transfer of annuity policies
• The "annuities listed" as secondary market annuities are not annuities. They are receivables.
• NJ is one of the 40 states that have adopted the 2017 Revisions to the Life & Health Guaranty Associations Model Act (#520). There is an express exclusion for anyone "who acquires rights to receive payments through a structured settlement factoring transaction as defined in section 5891 of the federal Internal Revenue Code, 26 U.S.C.s.5891(c)(3)(A), regardless of whether the transaction occurred before or after that section became effective". 

Why?

Investors are buying receivables not annuity policies!   In a structured settlement transfer the policy doesn't transfer

New Jersey "Structured Settlement Protection Act." N.J.S. § 2A:16-63

N.J.S. § 2A:16-64 Definitions

"Transfer" means any sale, assignment, pledge, hypothecation or other alienation or encumbrance of structured settlement payment rights made by a payee for consideration; except that the term "transfer" does not include the creation or perfection of a security interest in structured settlement payment rights under a blanket security agreement entered into with an insured depository institution, in the absence of any action to redirect the structured settlement payments to the insured depository institution, or an agent or successor in interest thereof, or otherwise to enforce the blanket security interest against the structured settlement payment rights.

"Transfer agreement" means the agreement providing for a transfer of structured settlement payment rights.

"Transferee" means a party acquiring or proposing to acquire structured settlement payment rights through a transfer.

Res Ipsa Loquitur.

 

 

NC District Court Dismisses Structured Settlement Felon's Bivens Claim

Gargan Civil Rights Case Dismissed

Joey Gargan, the former CEO of The Pension Company, Inc., convicted felon and former federal inmate has lost his complaint asserting claims for violations of his civil rights pursuant to Bivens v. Six Unknown Named Agents of Federal Bureau of Narcotics, 403 U.S. 388 (1971). Gargan's claims were DISMISSED pursuant to 28 U.S.C.§ 1915(e)(2)(B)(ii)-(iii). The clerk wass DIRECTED to close the case, SO ORDERED, on September 25, 2023.

IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF NORTH CAROLINA WESTERN DIVISION
NO. 5:22-CT-3354-FL JOSEPH E. GARGAN,Plaintiff, v. VICKY MOSER, KIM SWINDELL, DONALD EPPLEY, THOMAS
SCARANTINO, MARTIN TINDEL, and RON ALLISON, Defendants  Lois V. Flanagan  was the District Judge.

Download Gargan v. Moser 5-22CT03354_DocketEntry_09-25-2023_8

Who is Joey Gargan?

Gargan was a former CEO of The Pension Company, Inc. who had the temerity to pilfer settlement money from taxpayer dollars to cover his own shortfalls. He even embezzled settlement money from a New York City area hospital intended for a stuctured settlement for a severely injured minor. He also shortchange structured settlement brokers who were associated with his firm. Despite his crimes, Gargan was vouched for by Kenneth Feinberg and is the son of the late Joseph E. Gargan, "best known being a lawyer and cousin of Senator Ted Kennedy, prominently involved in the infamous Chappaquiddick incident of 1969" Source: Biography.com 

• Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews: Gargan Embezzlement (typepad.com)
• Loudoun man sentenced to nearly six years for embezzling $8 million in malpractice settlements - The Washington Post
• Joe Gargan Defending Lawsuit Alleging That He Screwed Broker Out of $200,000 Commissions - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)
• Gargan Pays Off Stolen $1M+ from NY Minor's Settlement | Seeks Compassionate Release from Prison - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

Bivens claim was filed after Gargan was granted Compassionate Release from FMC Buttner

Convicted Structured Settlement Felon Joe Gargan Released From Prison - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

 

John Darer Reviews How AI Demonstrates How Bad Information from Annuity.Org Gets Spread

by John Darer CLU ChFC MSSC CeFT RSP CLTC

I asked Microsoft's AI what was the difference between a structured settlement and an annuity and this was the result

Aligned

"A structured settlement is a form of negotiated settlement of claims and lawsuits in which some portion of damages is paid in the form of periodic payments. It is not a financial product, but rather a method of payment¹. On the other hand, an annuity is a financial product that provides a guaranteed stream of income over a specified period or for life^{1 2}.

Trails Diverge

"While structured settlements are often funded by annuities, they are not the same thing. Annuities can be purchased by individuals, while structured settlements are awarded by courts to plaintiffs². Additionally, annuity sales do not require court approval if you purchased or inherited the annuity, whereas structured settlement payments require court approval to sell²."

I hope this helps clarify the difference between the two", said Microsoft AI Bing.

Bing cited sources as follows :   1.  4structures.com, and 2. Annuity.org

Bing AI is unable to discern fact from fiction when it comes to the tractor beam of the " awarded a structured settlement" vortex.

Structured settlements are negotiated and are the result of a compromise.

Awards are not settlements

• A Grammy Award is not a settlement 
• An Academy Award (Oscar) is not a settlement
• If the President pins the Medal of Honor on you it is not a settlement
• If you make Dean's list it's not a settlement

 

Lists of civil awards and decorations of the United States - Wikipedia

Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews: Annuity.org | Sweeping Up Poor Annuity.org Research (typepad.com)

Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews: Awarded a Structured Settlement Vortex (typepad.com)

You Negotiate. If a Compromise is reached, it may include a structured settlement

CA Structured Settlement Broker Ad Leads to Millions of Creators of Intricate Structures

by Structured Settlement Watchdog

California structured settlement broker has done a brilliant job of microsegmentation and expansion of the structured settlement market in what is already a record year for the structured settlement industry. Under the cover of a company marketing video, the subject structured settlement broker targets "surviving spouses and 'dependants' ". At first blush it appears to be just a funny typo, but no... apparently...

"Ants are among the most diverse and successful insects on Earth. Ants live in colonies that can number in the millions and cooperate to create intricate structures".  -Wikipedia

Holy Temecula! I think we're gonna need a bigger boat for the flood of business, mate. 

What the heck is an "ent" anyway?

 

 

 

 

Henry County Georgia's "Plantiff Docket" Record 10 pages of Plantiff Cases September 19th!

by John Darer CLU ChFC MSSC CeFT RSP CLTC

If you are an advocate for the rights of flora and fauna, the odd hedgerow, topiary, or weeping willow, a hosta defrocked by a deer, perhaps the old oak tree shorn of its yellow ribbon and tired of assaults on its trunk by a cavalcade of back scatching bears, woody woodpeckers and leg lifting poodles, here is something that may interest you.

Henry County Georgia's Inclusive "Plaintiff Docket" Dates Back to 2019

"Ate some seeds and then this happened"

Henry County GA appears to have a record that perhaps no other court can touch, as a specialist in hearing Plantiff cases, with its "Plantiff docket" dating back to 2019, according to our assidous research.

As I reported  last month in Plantiff Tracker | Following Warriors of the Wayward Vowel For Over 17 Years - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com), Judge Amanda R. Flora  has 10 pages brought by Plantiffs against Defendants on her calendar for this Tuesday, September 19, 2023

Sampling of Plantiff Docket in Henry County Dating Back to 2019

Download 10_18_2023_Amanda R. Flora_Civil Plantiff Docket Henry County GA

Download 5_3_2023_Amanda R. Flora_Civil Plantiff Docket Henry County GA

Download 9_30_2022_Amanda R. Flora_Civil Plantiff docket Henry County GA

Download 9_23_2022_Amanda R. Flora_Civil Henry County Georgia

Download 12_10_2021_Amanda R. Flora_Civil Plantiff Docket Henry County GA

Download 6_16_2020_Amanda R. Flora_Civil Plantiff Docket Henry County GA

Download 11_19_2019_Amanda R. Flora_Civil Plantiff Docket Henry County GA

So if you are an advocate for the rights of flora and fauna, the odd hedgerow, topiary, or weeping willow