by Structured Settlement Watchdog
Eagle Settlement's epic failure on structured settlement basics is almost as bad as its CEO's epic failure in the 2016 Palm Beach County judicial elections.
In a video posted on YouTube at the time of publication of this post (see screenshot), Eagle Settlement inaccurately states that when you inherit a structured settlement you are now the legal owner of the annuity. Nothing could be further from the truth. The original structured settlement annuitant has the option to name a beneficiary. Upon the annuitant's death, if there are any certain payments remaining they will be paid, when due, to the named beneficiary, instead of the estate. By naming a beneficiary the payments are not subject to probate and its inherent delays.
The beneficiary is not the legal owner of the structured settlement annuity that is used as a "qualified funding asset". The beneficiary only has the right to receive payments in accordance with the schedule agreed when the structured settlement was established or in a commuted lump sum if such commutation provision was elected at the time of settlement.
Lawyer Robert Ostrov's involvement in Eagle Settlements LP, was clear. Download LL003162 Eagle Settlements Ostrov quite clearly was partner 2013-2015. Court records in Palm Beach County 50-2014-CA-012924 show that Ostrov sued his former partners at the end of that relationship on October 22, 2014, but the matter was voluntarily dismissed shortly thereafter in March 2015. Here is the BBB report for Eagle Settlements where Robert Ostrov is listed as the Principal and Chrissy Eynon is right there with him. Download Eagle Settlements LLP Business Review in Altamonte Springs, FL - Central Florida BBB
The lack of licensure requirements for structured settlement secondary market companies helps foment the lack of basic knowledge on show by Eagle Settlement and the rest of the uninformed elements of the structured settlement factoring market segment.