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June 22, 2024

Settle4Cash Blows Definition of Structured Settlement in "Reviewed and Edited by CPA" Farce

by Structured Settlement Watchdog

The "Reviewed and Edited by a CPA" Farce that Supports Factoring Company Marketing

The structured settlement information highway is beset with shambolic inaccurate information digitally Reviewed by cpa structuredsettlement farce
imprinted onto the eyeballs of potential victims, authored by individuals without subject matter bona fides, to generate leads for factoring companies, whose inaccurate information is "bolstered" by an alleged CPA Review.
 
Following is an example of what appeared on the Settle4Ca$h website, "written by Lauren Ward" and purportedly "financially reviewed and edited by Deon Taylor CPA", a CPA from Utah  ("Ward & Taylor")  
 
"A structured settlement is a type of ongoing payment awarded to a plaintiff in a successful civil lawsuit, such as a personal injury, medical malpractice, or worker’s comp suit. The individual usually receives a tax-free monthly payment that is guaranteed by an insurance company".
 
Deon Taylor is a CPA with varied types of sound financial experience they say . He has experience is Advisory, Taxes, Real Estate, SaaS, and Financial Consulting. He holds a bachelor’s degree in accounting from Weber State University, and a master’s degree in accounting from the University of Utah. He is a licensed CPA in the State of Utah.  Lauren Ward self describes on her website as "a freelance financial writer" who is "ready for smart, relatable finance content that educates your audience AND keeps your compliance team happy"?
 
How can Settle4Cash represent that Taylor financially reviewed and edited this?
 
Taylor holds no insurance license in Utah  Download Utah Insurance search for Deon Taylor 6-22-2024.
 
Neither Ward, nor Taylor, are members of the National Structured Settlements Trade Association, the Society of Settlement Planners or American Association of Settlement Consultants. There is only one conclusion.

Ward & Taylor clearly have no subject matter expertise about structured settlements and demonstrate a failing grade for both research skills and comprehension, despite an abundance of credible information.

It's a total embarassment actually, in my opinion.
 
Glaring Deficiencies in the Work of Ward and the Purported "Review and Editing" of Taylor
  1. A settlement is not an award
  2. An award is not a settlement
  3. A structured settlement is not an award
  4. A settlement is a compromise
  5. A structured settlement maybe a part of the compromise
  6. A settlement agreement is a contract 
  7. Along with offer and acceptance, legality and capacity, part of a valid contract includes consideration.  See contract | Wex | US Law | LII / Legal Information Institute (cornell.edu)
  8. When there is a structured settlement, the consideration must include an promise to make periodic payment(s).  See How Do Structured Settlements Work | Structured Settlements Explained (4structures.com)
  9. A structured settlement payment is not necessarily ongoing. A structured settlement could involve a single deferred lump sum payment in the future. For example, a structured settlement established for a minor and funded with a MetLife structured settlement annuity, could include a single deferred lump sum at age 21. Or payments could bemadein laddered lump sums and semi-annual payments over 6 years.Structured settlenments are customizable and monthly is only one of many payment modes and types of payments. See Types of Structured Settlement Payments | Structured Settlement Payment Options (4structures.com)
  10. Structured settlements that are funded with structured settlement annuities are generally owned by a qualified assignment company.  Please review the link to #7.  But, when there is a qualified assignment, the obligation to make periodic payments has been assumed by the qualified assignment company, which may be guaranteed by the annuity issuer, or in some cases an upstream holding company  (e.g. PacificLife Corp for Pacific Life funded structures,  AGC Life Insurance Company for Corebridge Financial subsidiary funded structures)  See Structured Settlement Companies | Top Structured Settlement Companies 2024 (4structures.com)
  11. Where structured settlement annuities are bought pursuant to settlements under the Federal Tort Claims Act, the annuities are generally owned by the United States of America. The United States of America does not guarantee those annuities.

More Clues Settle4Cash is Just Not Up to Speed on Structured Settlements

USB financial not aninsurance company does not issue syructured settlement annuities
USB Financial is not an insurance company, let alone one that issues structured settlement annuities
  • AIG does not issue structured settlement annuities
  • Allstate.  hasn't issued structured settlement annuities for more than a decade
  • Berkshire Hathaway
  • Liberty Mutual stopped writing new structured settlement annuities in late December 2017.
  • Metlife
  • Mutual of Omaha doesn't issue structured settlement annuities, United of Omaha does
  • New York Life
  • Pacific Life
  • Prudential Financial
  • Symetra, hasn't issued structured settlement annuities in years
  • "USB Financial" doesn't issue structured settlement annuities. Animaginary company named after something you plug into a port on the back or side of your computer is not (and has never been) an issuer of structured settlement annuities. If what Settle4Cash was trying to say UBS Fianncial,UBS Financial does not (and hasnot ever) issued structured settlement annuities either.

Retrieved from the Settle4Cash website June 24,2024 at 630pm EDT

Settle4Cash is Even Clueless About Present Value

Whichever factoring company is benefiting from Settle4Cash, they actually published this:  Discount rates structured settlements

"You can sell your structured settlement for a lump sum if court-approved, but the drawback is that you won’t receive the full value of the remaining payments. Instead, purchasing companies charge a discount rate, which is subtracted from the total value of your structured settlement annuity

The discount rate ranges between 9% and 20%. So if your remaining structured settlement payments total $50,000, the purchase offer you receive may actually only be between $40,000 and $45,500".  WRONG!

A discount rate is not a markdown or discount shopper card! 

The present value (PV) is the current value of a future sum of money or stream of cash flows given a specified rate of return. Let me break it down for you: I wonder if present value is on the CPA exam... Hmm

Present Value Formula, Tables, and Calculators | AccountingCoach

If you don't have TValue, here is a link to a good financial calculator for estimating the present value of a stream of structured settlement payments Structured Settlement PV calculator.

Settle4Cash states in the Privacy statement on the Settle4ca$h website that it is owned by AXDS Axons Digital Solutions Ltd 209 Arch. Makarios III Avenue, Fytides Court, Office 301
Limassol 3030, Cyprus

 

 

Posted at 07:29 PM in Reviewed/Edited By CPA Farce, Structured Settlement Factoring News, Structured Settlement Watchdog® |

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Guide to Structured Settlements 2024

  • What is a Structured Settlement? What You Need to Know
    Structured settlements and what you need to know about them including a helpful introductory video featuring A.M. Best Client Recommended Structured Settlement Expert and Registered Settlement Planner John Darer of 4structures.com LLC
  • 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
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
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    Which life insurance companies issue structured settlement annuities in 2024? 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. Last updated June 14, 2024
  • 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 2024
    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 .
  • Structured Attorney Fees for Tax Deferral for Attorney 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 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.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click the title for a link to a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life), oran annuity issuer has changed its name and you're trying to track them down. Here you go! The list is regularly updated. Last updated May 20, 2024.
  • 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.
  • 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
  • Structured Settlements and Longevity Risk| What Are the Odds?
    Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can include one or more customized payment streams and types.

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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Why Take a Structured Settlement?

  • A structured settlement offers guaranteed financial security to personal injury victims, wrongful death survivors and their families. A structured settlement involves a customized stream of payments, provides long-term stable tax-free income, for a period of years or a lifetime. Unlike other income annuities. a structured settlement annuity can have multiple payment streams to address multiple needs in a single contract.

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