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March 24, 2009

ViaTrust Inc Social Media Road Kill on Structured Settlement Broker

by Structured Settlement Watchdog®

Douglas Petrie of Hasbouck Heights, New Jersey has outdone himself with this howler website from Via Trust Inc about

Finding The Right (Structured Settlement) Broker

"Selling the settlement may seem very tempting and you may think about finding a good purchaser structured settlement. If you need expert guidance and wish to sell in a hassle free manner you may do so by hiring an experienced structured settlement broker. He has to be registered with the Department of Justice and has to be registered in one American State. He must be registered with at least a minimum of one insurance company. He must also be insured against errors and omissions. You may compare the rates charged and service offered by various brokers before selecting one of them.
You have to be careful while selecting a structured settlement broker. He has to be someone who is trustworthy. You need to be sure that he will help you secure a reliable buyer who will give you the right value for your settlement"

Comments:

  1. A structured settlement broker is an individual possessing specific expertise, and one or more state insurance licenses, who places structured settlement annuities, or other "qualified funding assets" when a structured settlement is part of the resolution of a claim or litigation. Most active structured settlement brokers are members of the National Structured Settlement Trade Association (NSSTA).
  2. A structured settlement broker DOES NOT have to be registered with the Department of Justice
  3. A structured settlement broker who is on the Department of Justice list of structured settlement brokers will be required to sign a Structured Settlement Broker Declaration. Such list is simply a resource for United States' Attorneys to draw upon to satisfy its structured settlement consulting and placement needs.
  4. A structured settlement broker does not have to be registered in one American state. A structured settlement broker generally possesses a valid license to sell life insurance in at least the state of solicitation and his/her home state. He or she may be appointed with one or more life insurance companies. A corporate entity may need to be registered to do business with the Secretary of State where it solicits business in addition to holding a valid insurance license.
  5. The Department of Justice consistently and successfully fights attempts to factor structured settlements entered into by the United States.
  6. Counseling concerning alternative sources of cash is not limited to structured settlement brokers or structured settlement brokers with the qualifications set forth by Via Trust, Inc.

Ergo, Petrie and the "Via Chumps" are this week's visitors to Structured Settlement Aper's Pillory where it's the case of monkey see monkey do, but in this case it's NOT flattering!

 


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Posted at 11:20 PM in Financial Literacy, Social Media "Road Kill", Structured Settlement Brokers, Structured Settlement Watchdog®, Via Trust Inc, Viatrust |

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Guide to Structured Settlements 2024

  • What is a Structured Settlement? What You Need to Know
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  • How Do Structured Settlements Work? How Structured Settlements Work
    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in on the spectrum of settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
  • Top Structured Settlement Annuity Companies 2024
    Which life insurance companies issue structured settlement annuities in 2024? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information. Last updated June 14, 2024
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements 2024
    Ways You Can Structure Your Settlement Payments in 2024. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
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    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as capped or uncapped index linked structured settlement annuities where payments are adjusted based on upside changes in the S&P 500 or another index, Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team in 2024.
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  • Structured Settlement Quote Lock-Ins | What You Need To Know
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  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon
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    Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can include one or more customized payment streams and types.

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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Structured Settlement Best Practices Corner

  • New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
  • When it comes to settlement documents it is the ultimate responsibility of the lawyers or claims adjusters who receive input concerning the structured settlement aspects of the documents to actually read the entire document, exercise independent thought and advise their clients properly
  • Be aware that financial advisors use of testimonials is prohibited or restricted
  • Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
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Why Take a Structured Settlement?

  • A structured settlement offers guaranteed financial security to personal injury victims, wrongful death survivors and their families. A structured settlement involves a customized stream of payments, provides long-term stable tax-free income, for a period of years or a lifetime. Unlike other income annuities. a structured settlement annuity can have multiple payment streams to address multiple needs in a single contract.

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