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October 14, 2020

Terrence Taylor Case Has 30 Motions Pending As Factoring Company Lawyer Exercises Legislative Privilege Again

by Structured Settlement Watchdog

Factoring company lawyer Stephen Heretick was elected to the Virginia House of Delegates in November 2015. Since then Heretick has used his legislative privilege to prevent the case from proceeding to some resolution, leaving an astounding 30 outstanding motions in the Terrence Taylor case!    Section 30-5 of the Code of Virginia Continuance or time for filing pleading, etc., where party or attorney is connected with General Assembly or Division of Legislative Services. Virginia has no term limits so this baloney can literally go on forever.  Heretick's latest motion for continuance was filed October 8, 2020.

Heretick is counsel to a series of structured settlement factoring companies that in aggregate, are alleged to have raided Terrence Taylor's structured settlement payments to the tune of 11 transactions in 2 years. Taylor commenced litigation in March 2015. Structured settlement factoring company plaintiffs have benefited from Heretick's delay tactics.  Terrence Taylor''s structured settlement was established after he suffered severe burns as a child and reached a settlement with a space-heater manufacturer that had a lifetime expected payout of $31.5 million.    Structured Asset Funding et al. vs Terrence Taylor et al.  Case CL15-3022 Portsmouth Circuit Court.

Heretick, individually, is also a co-defendant in a class action lawsuit pending in the Eastern District of Pennsylvania as the alleged central figure in a case involving thousands.

Posted at 11:52 PM in Annuitant v Factoring Company, Portsmouth Structured Settlements, Structured Asset Funding/123 Lump Sum, Structured Settlement Factoring News, Structured Settlement Watchdog®, Virginia Structured Settlements |

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Guide to Structured Settlements 2024

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    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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    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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    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 capped or uncapped index linked structured settlement annuities where payments are adjusted based on upside changes in the S&P 500 or another index, 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 in 2024.
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    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.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon
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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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