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September 10, 2009

Structured Settlement Annuity in One Wordy "Inarticulate Articulation"

"Structured settlement annuities are as a (sic) result of broadly articulating litigation that’s occurred between parties where a (sic) economic award has been given by one party to another as a (sic) result of a court action".   Source: Settlementblog.net

Is an "broadly articulating litigation" something like a reticulated python? Reticulated python

What if the "articulation" is itself "inarticulate"?


Something better?...

A structured settlement annuity is a flexible form of insurance used to fund the payment of damages in the resolution of a claim OR a law suit. A structured settlement annuity is issued by niche group of life insurance companies and placed through/sold by licensed and appointed agents or brokers as a permissible "qualified funding asset" under Internal Revenue Code Section 130(d). While structured settlement annuities are primarily used for the payment of damages for physical injury or sickness, or in the resolution of statutory workers compensation claims, applicable use has expanded in recent years.

Posted at 12:50 PM in Financial Literacy, IRC 130 Qualified Assignment Tax Exclusion Qualified Assignee, IRC 130(d) Qualified Funding Asset, Qualified Funding Asset, Structured Settlement Definitions |

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Comments

John Darer

And the sad thing Steve is that Hindert and his co-authors have not addressed the subject of "servicing" of structured settlement payments in cases where holders of structured settlement payment rights sell only part of their payments but are either forced to transfer all of their payments allegedly due to life company unwillingness to split payments or, ostensibly as a scheme by a factoring company to control payments from future sales of structured settlement payment rights. The actors in this drama have yet to come forward with a definitive answer to what happens if the servicing factoring company goes belly up. The JG Wentworth Chapter 11 and Peach Holdings credit troubles give us considerable pause because they have been promoted as the 2 largest companies in that business.

Posted by: John Darer | September 10, 2009 at 07:35 PM

Steve Craig

This also from Settlementblog.net on what I thought was the seminal text on our industry:

“Structured Settlements and Periodic Payment Judgments” is a great book about the effects of “Structured Settlement Factoring Transactions“. The book provides readers with guidelines, procedures and definitions to help them transfer payments from their structured settlements.
The book has a total of 1050 pages, is written in English and has a weight of 10.04 ounces, it can be bought from amazon.com at the price of $279.00 and ships in 1-4 weeks.

WOW.

Posted by: Steve Craig | September 10, 2009 at 05:59 PM

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