by Structured Settlement Watchdog
Fort Lauderdale's Right Way Funding is a stunning example of why education about structured settlements is best received from sources other than companies like Right Way Funding. Right Way Funding, as I will demonstrate below has a lack of fundamental understanding structured settlements that is off the charts.
Right Way Funding makes the following gross and misleading misstatement of fact, right on its website
Concerning Annuities "Right Way understands these often confusing terms and can help you to understand..."
Right Way Funding undermines itself by displaying a stunning level of ignorance on the fundamentals of annuities and structured settlements while purporting to be able to dispense financial advice to consumers.
These examples appear on the Right Way Funding website when accessed on January 15, 2018.
1. Right Way Funding blunders: "You most likely purchased your annuity from an investment corporation..."
When in reality, annuities are issued by insurance companies (through appropriately licensed appointed agents or brokers) regardless of the nature of the intermediary.
2. Right Way Funding blunders: "The Tax-free advantages introduced by the IRS made structured settlements very popular for settling lawsuits and other misfortunate legal matters without the need of an immediate lump sum payout. "
When in reality, Congress introduces laws not the iRS. The United States Constitution gives Congress the power to levy taxes [ See United States Constitution Article 1 Section 8]. Furthermore, while a structured settlement annuity is a core settlement planning tool, rarely is 100% structured.
3. Right Way Funding blunders: A life contingent structured settlement is designed to provide consistent income for the lifetime of the annuitant and is often non transferrable to a beneficiary.
When in reality, a life contingent annuity can be established with a period certain. For example an annuity payable for life with 40 years certain will distribute payments in installments for as long as the measuring life lives. In the event of death earlier than the edn of the certain period, any remaining payments will be paid to the named beneficiary, or to the payee's estate if no such beneficiary is named.
4. Right Way Funding blunders: The annuitants estate or other beneficiaries inherit the payments from the annuitant in the event of death.
When in reality, In layman's terms, an estate is somebody's net worth in the eyes of the law. That means your bank accounts, your home, your car, and any smaller assets you have to your name. It also means any rights and licenses you might have to, say, a song you wrote or even your social media accounts it's also everything you owe. [ Source: Rocket Lawyer]
5. Right Way Funding blunders: An annuity is an contractual investment product sold by financial institutions that is designed to grow funds from an individual and then when it enters the "annuitization" phase, the payout is a stream of payments to an individual at a later point in time.
When in reality, when an annuity enters the annuitization phase payments begin. All the amateurs at Right Way Funding needed to do was Google ""annuitization" to get the same answer from these page 1 results:
- MD Magazine
- The Basics of Annuities
- The Balance
- Penn Mutual
- 'Investing Answers
Just how lazy can Right Way Funding Be? Flies in the face of Right Way's claim "Our strive for success is unrelenting",
Right Way Funding is Inconsistent and Equivocates About Its Claims to Pay More
- Advertises " We Pay More on YouTube
- On it's website Right Way Funding states it " offers one of the highest on average lump sums for structured settlement payments"
II believe that Dr. Raymond Stantz said it best...
Right Way Funding, formerly known as BTG Advisors. is 1/3 owned by Canadian company Tellza.