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June 27, 2011

Barbados Rocks For Non Qualified Assignments!

by John Darer® CLU ChFC MSSC RSP CLTC

Since Barco Assignments, Ltd. was setup as a non qualified assignment company to support the Liberty Mutual structured settlement program, in the late 1990s, others have followed to the former British colony that is the birthplace of the Grammy award winning singer Rihanna.

Barbados is a well regulated Organization for Economic Cooperation and Development approved domicile. Founded in 1961, the Organization for Economic Cooperation and Development  is comprised of 34 countries and intended to stimulate economic progress and world trade. Barbados is the only independent Caribbean nation which has substantially implemented the OECD’s internationally agreed tax standard and offers a well-regulated, transparent and supportive environment for business.

In addition, Barbados has an expanding network of double taxation treaties, including the USA,  which offers tax advantages to investors that use Barbadian resident entities to conduct business in other countries. An International Business Customer Charter details the commitments of regulatory agencies to provide swift, efficient and professional service to the international business sector. In this respect, Barbados enjoys significant advantages over other jurisdictions.

Barbados regulators are the Central Bank of Barbados, the Financial Services Commission, and the International Business Unit. More information on Barbados' financial services industry at www.investbarbados.org.

In a clear indication that using a Barbados offshore assignment company for non qualified structured settlements has gained greater acceptance due to the favorable tax treaty between the United States and Barbados,  one can point to Allstate Life Insurance Company and Prudential Insurance Company of America, which had non qualified assignment companies on the island when their non qualified assignment programs were operational.

In addition to BARCO (Liberty), whose structured settlement obligations transferred by non qualified assignment are backed by a Notice of Financial Commitment from Liberty Life Assurance Company of Boston, a life insurance company regulated in all 50 U.S. states  [with a further guarantee of Liberty Life Assurance Company of Boston by  100 year old Liberty Mutual Insurance Company, a leader of insurance that every business must buy (workers compensation)] , there are other entrants who use Barbados that service the U.S. Market.

  • Structured Assignments Inc. (Midwest Trust non qualified assignment facility using United States Treasury obligations). Formerly known as Treasury Funded Structured Settlements International, or TFSS-I for short.   This is a non annuity funded non qualified structured settlement facility that can also be used for structured installment sales, structured settlements and structured attorney fees
  • Havelet Assignment Company.  an independent assignment company that will take on non qualified assignments for claimants or for structured attorney fees, as well as structured installment sale obligations through a subsidiary Havelet Assignment (Structured Sales) Limited.  Havelet's structured installment sale plan involves the purchase of a fixed annuity as a funding asset however, unlike BARCO Assignments Ltd, the annuity while qualified for US tax purposes is issued by a life insurer that is not domiciled in the continental USA.  

For more information about non qualified assignments please contact John Darer at 888-325-8640

 

Posted at 11:23 AM in Albany New York Structured Settlements, Barco Assignments, Ltd., Bridgeport Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Chicago Illinois Structured Settlements, Corpus Cristi Structured Settlements, CT Structured Settlements, Dallas Fort Worth TX Structured Settlements, Liberty Life Assurance Company of Boston, Liberty Mutual, New Haven CT Structured Settlements, New Jersey Structured Settlements, New Orleans Louisiana Structured Settlements, New York City Structured Settlements, New York Personal Injury, New York Settlement Planning, New York Structured Settlement Practice, New York Structured Settlements, Newark NJ Structured Settlements, Newburgh Structured Settlements, News About Structured Settlements, Non Qualified Assignments, Non Qualified Structured Settlements, NYC Structured Settlements, Orange County Structured Settlements, Oregon Structured Settlements, Palm Beach Structured Settlements, Plaintiff Attorney Settlement Issues, Rhode Island Structured Settlements, Rochester Structured Settlements, Sacramento Structured Settlements, San Diego Structured Settlements, San Francisco Structured Settlements, Santa Monica Structured Settlements, Sarasota Structured Settlements, Seattle Structured Settlements, Settlements in Queens County New York, South Carolina Structured Settlements, St. Louis Structured Settlements, Stamford Structured Settlements, Structured Settlements in Ithaca New York area, Structured Settlements in Kentucky, Structured Settlements in Maine, Structured Settlements in Maryland, Structured Settlements in Miami Florida area, Structured Settlements in Nassau County, NY, Syracuse Structured Settlements, White Plains Structured Settlements |

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Guide to Structured Settlements 2021

  • What is a Structured Settlement? What You Need to Know
    What you need to know about structured settlements. General explanation of structured settlements, including the stable guaranteed income and favorable tax benefits that give structured settlements their "juice" and a helpful introductory video featuring 2021 A.M. Best Recommended structured settlement expert and Registered Settlement Planner John Darer® of 4structures.com® LLC
  • How Do Structured Settlements Work? Structured Settlement Diagram
    How structured settlements work, accompanied by 4structures.com® LLC's helpful structured settlement flow chart/diagram showing how structured settlements fit in with other 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].
  • Structured Settlement Annuity Companies 2021
    Which life insurance companies issue structured settlement annuities going into 2021? 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, links to their websites and other useful information.
  • 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.
  • Compare Structured Settlement IRR to Other Settlement Alternatives
    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
    Ways You Can Structure Your Settlement Payments. 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 or even an index linked structured settlement.
  • Structured Attorney Fees for Tax Deferral for Contingency Fees
    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 the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. 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.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click for a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Transamerica, AEGON, GE Capital, Liberty, CNA) or changed its name and you're trying to track them down, here you go! The list is regularly updated. Last update October 2020.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • 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.

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  • STRUCTURED SETTLEMENTS 4REAL® Blog Is a Popular Source of Structured Settlement News and Information, Settlement Planning News, Tax Deferral and Deferred Income Planning Solutions,
    with a stable readership that seeks credible structured settlement information and/or opinion about topical issues related to settlement planning, targeted to lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance company executives and adjusters, financial advisers settlement professionals, financial professionals, insurance regulators, government leaders, federal and state law enforcement, buyers and sellers of structured settlement payment rights, the news media and other interested parties. 4structures.com LLC established the structured settlement blog in 2005 and for over 15 years it has been a leading source for critical commentary. The John Darer authored blog has been among the most prolific, regularly providing fresh structured settlement, settlement planning and litigation recovery management content and commentary . John Darer®, CLU ChFC MSSC CeFT® RSP CLTC, President of Stamford, CT based 4structures.com, LLC, is an experienced New York City area structured settlement expert, structured settlement broker, Certified Financial Transitionist, and Registered Settlement Planner. WHAT YOU GET here is the straight stuff with a touch of irreverence and humor. We hope you enjoy and find the content to be helpful.. Subscribe to the structured settlement blog feed, or a specific category feed through your blog reader, or through the Feedburner icon on this page. Followers of JDDarer™ on Twitter may also receive select content. Thank you for reading!

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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.
  • Number of States That Prohibit Payment of QSF expenses by licensed agents and brokers
    5 Survey not yet complete.

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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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