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October 15, 2010

The Unclear Clairvoyant of the Structured Settlement Industry

by Structured Settlement Watchdog

Based on the content of its website, a member of the structured settlement industry has chosen to celebrate the "oxy moron" in all of us.

To wit:

1. "Evaluation and assistance in life care planning Knowing exactly what the future may hold for an individual... "

Comment: If you know "exactly", then why do you need an escape valve for your marketing statement?

Oxymoron ...

  • Jumbo Shrimp
  • Precise Average
  • Same Difference
  • Genuine Fake
  • All Alone
  • or, a Happy Crab?

2.  "This is the only time in a person’s life where they can elect to take a portion of payments set out over a length of time, with tax free benefits that were specifically created by the government to help injured parties ...With a combination of evaluation tools, we can assist in assessing future medical needs ranging from medicine, wheel chairs, assisted living care, in home nursing, and other future costs, and plan directly for them, all while dealing with inflation and preparing for unknown costs...

Comments:

  • While a structured settlement has unique tax benefits for those that qualify, you CAN buy a non qualified annuity, or a bond at any time, which will "set out payments over a period of time". A municipal bond may have tax exempt payments, but it may carry more market risk than a structured settlement
  • Again, if you REALLY know "exactly what the future may hold" then why would you need to "prepare for unknown costs"?
  • If such a provision is elected, structured settlements provide fixed percentage increases not cost of living adjustments.

 

Posted at 10:37 AM in LIfe Care Plan, Settlement Planning LOL, Structured Settlement Brokers, Structured Settlement Humor, Structured Settlement Industry News, Structured Settlement Watchdog® |

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    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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  • What Are Structured Settlement Annuities?
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  • 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.
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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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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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