According to published reports, in the Waterloo Cedar Falls Courier, the ski team had settled for $600,000, but Roth told the family the settlement was for $750,000. Of that, $44,900 was to be placed in conservatorships for the boy's brother and sister until they turned 18. Roth indicated he would purchase annuities for structured settlements to fund the conservatorships. But "No annuity or structured settlement was ever purchased, and David A. Roth has misappropriated the funds that were to be paid" to the siblings, according to the claim.
Much of the money that was to go to Bodee's estate is also unaccounted for, according to the claim.
To add insult to injury of the Peterson family, an Iowa man filed a claim in the estate of attorney David Alan Roth, saying he’s owed money for a pre-settlement loan taken out by Roth, related to the case. But the attorney representing the child’s parents said they don’t know anything about the person who loaned the money or the person who allegedly was to receive the funds under the pretense of being a “co-executor” in the child’s estate.
Critical Clause must be in Settlement Agreement and Release
1. Check to see that there is a "promise to pay" by the Defendant or Defendants' insurer in the release, BEFORE you sign the release with a structured settlement. A structured settlement is established as the result of a negotiated compromise and represents the payment of damages. A structured settlement is established as the result of a negotiated compromise and represents the payment of damages. Follow the legal advice of your lawyer, but "raise the red flag" and do not sign the release unless there is a promise to pay.
2. Your lawyer cannot make the promise to pay for damages that are owed to you by another person or entity. Entering into a structured settlement is not a difficult transaction, but the fundamentals must be understood and followed to achieve the desired result.
What else to watch for
Be sure that you understand how structured settlements work Make sure you can process the structured settlement information in your most effective method of learning. If your lawyer has not introduced you to a structured settlement consultant, or you don't feel engaged with that person, there is no reason why you cannot seek out your own. Make sure they are properly credentialed, licensed in your state, experienced and insured.The structured settlement funding check should not be made payable to your lawyer, or jointly to you and your lawyer. In most cases the check is made payable to the qualified assignment company** associated with the structured settlement annuity issuer and goes from the insurer to the structured settlement consultant. The Defendant or insurer, through its agent, will usually supply a copy of the structured settlement funding check. Always get a copy.