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July 02, 2021

Minnie Strucuture | Chronovo's Baffling Statistics About "Strucutures"

by Structured Settlement Watchdog

What does the Sphinx's Riddle tell you about structured settlements? 

Apparently April 6, 2021 was Pizza (pie-chart) night at the Chronovo Chronicle (see meme excerpt below, for fair use commentary)

Structures-by-age

A parody of the situation featuring the late Cab Calloway, might have gone something like this:

Folks, here's a story 'bout "Minnie Strucuture"
She's a red hot annuity-coocher
She was the roughest toughest frail
But Minnie had a heart as big as a whale
Hi de hi de hi de hi
Ho de ho de ho de ho
Hee de hee de hee de hee
Annuity Annuity Annuity... (I think you catch my drift)

The Staff of What?

Chronovo pizza pies its own statistics in an effort to support the idea that structures, or rather "strucutures",  have utility at all ages with their sweet spot in the 46-65 cohort. But instead of answering the riddle of Sphinx, we have the "Staff of What?  No idea of the sample size.  Chronovo states that "nearly  three times as many structures are purchased by individuals over the age of 65 (25%) than under 25(7%).
 
Chronovo makes no sense at all. Individuals do not buy structures, nor do they buy structured settlement annuities, except in rare circumstances where the defendant is a self insured individual.  Individuals agree to accept a structured settlement as part of a negotiated compromise. I dare say (after all I'm a Darer) that indviduals do not buy "strucutures" either.
 

Structured settlement consultants and settlement planners can do their part by properly articulating structured settlements. We can all have a chuckle about a funny typo, but let's be a bit more careful.

 
 

 

 

 

Posted at 02:33 AM in Structured Settlement History, Structured Settlement Transparency Initiative, WV 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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  • What Are Structured Settlement Annuities?
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  • 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.
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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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