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April 17, 2013

Taking Them To The Wood(bridge) Shed for "Involuntary" Misinformation

by John Darer CLU ChFC CSSC RSP CLTC

Woodbridge Structured Funding LLC knows better than to state this on its website as a "type of cash for annuity payments" in its sales pitch:

"A structured settlement annuity pays out small payments over a period of time, usually many years.  These payments are usually a fixed amount that is decided by the court or insurance company, and the victim has no control over the amount or frequency of the payment"

While technically, as part of the second step of the process when a structured settlement is created, the Defendant, Respondent, or their insurance company must pay cash to a qualified assignment company, which then purchases a structured settlement annuity contract to fund the future periodic payments assumed by the assignee, a structured settlement annuity is not a "type of cash for annuity payments"

The notion that the determination of the structured settlement annuity payment is a unilateral decision "decided by the court or insurance company, and the victim has no control over the amount or frequency of the payment" is utter rubbish

Structured settlements are voluntary agreements.  My recent video is right on point that a structured settlement is a voluntary agreement.

     

And, to pound the point home...

From US Legal.com


"A settlement in legal terms refers to when parties to a lawsuit resolve their difference without having a trial. Settlements are negotiated by their parties, usually through their attorneys and/or insurance adjusters, but final approval of a settlement offer must rest with the parties to the lawsuit".

From Law.com


"Most settlements are achieved by negotiation in which the attorneys (and sometimes an insurance adjuster with authority to pay a settlement amount on behalf of the company's insured defendant) and the parties agree to terms of settlement".

Conclusion

Woodbridge Structured Funding's oversight on this point is unfortunately, not uncommon in advertising by the structured settlement secondary market. Such advertising in some cases tries to unsettle structured settlement annuitants with "large lump sum for teensy weensy payments" message.

Some companies have even gone so far over the top with their misplaced metaphors that they falsely imply criminality by using the image of a felon in handcuffs, in their advertising. Ironic, considering what a background check of some of the participants in the unregulated structured settlement factoring industry would reveal. Very ironic.

 

 

 

 

Posted at 11:18 AM in Misinformation About Structured Settlements, Structured Settlement Factoring News, Structured Settlement Watchdog®, Woodbridge Structured Funding LLC/ Woodbridge Wealth |

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Guide to Structured Settlements 2023

  • 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
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  • Structured Settlement Annuity Companies 2023
    Which life insurance companies issue structured settlement annuities going into 2023? 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.
  • 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
    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, index linked structured settlement payments and market based structured .
  • 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.
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  • 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.
  • 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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    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon

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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