by John Darer CLU ChFC MSSC CeFT RSP CLTC
Despite the over the top scaremongering used by certain settlement planners to get business , a leading New York plaintiff lawyer suggests that structured settlements may be a "win win" that enables an otherwise impossible settlement"
In Protecting the Catastrophically injured Plaintiff's Recovery, Michael W. Kessler, Esq. states:
"Although a structure cannot "turn water into wine", shifting certain risks to annuity issuers can sometimes create an opportunity in which the plaintiff gets more than he or she would get under a 50-A or 50-B judgment AND still enable the Defendant to pay less than it would otherwise be obligated to pay. This can make it a win win for both sides".
Article 50A of the New York Civil Practice Law and Rules (CPLR) is New York's periodic payment of judgments statute dealing with periodic payment of damages on medical, dental or pediatric malpractice cases.
Article 50B of the New York Civil Practice Law and Rules (CPLR) is New York's periodic payment of judgments statute dealing with payment of damages on personal injury, injury to property and wrongful death actions.