"Structured Settlements Not Used in Wrongful Death Claims" Dallas Law Firm Claims

by John Darer CLU ChFC MSSC CeFT RSP CLTC'

The Rasanzky Law Firm in Dallas Texas claims that structured settlements are not used in wrongful death claims and implies that structured settlements are only used in catastrophic injury cases. 

'Here is what Rasanzky Law Firm states on its website:

"What is the role of structured settlements in wrongful death claims?  

Structured settlements are not used in wrongful death claims. Structured settlements are used in catastrophic injury cases such as brain-damaged baby, paraplegia, and traumatic brain injury cases. In these types of cases, personal injury victims will require a stream of income to cover ongoing expenses, medical costs, education, and other financial needs. These are usually settlement instruments, as courts cannot award the purchase of structured settlements".   Source: Rasanzky Law Firm " Annuities, Structured Settlements and When to Sell Them" retrieved May 30, 2023.

To be clear, apparently The Rasanzky Law Firm does use structured settlements, but makes a categorical assertion that structured settlements are not used in the settlement of wrongful death claims. That's what we're dealing with in this blog.

Rasanzky Law Firm's Statement about Structured Settlements in Wrongful Death Claims is Inaccurate

The statement on The Rasanzky Law Firm website concerning structured settlements in wrongful death cases is simply inaccurate. The results of a simple Google search would reveal that other law firms in Texas, let alone the USA, consider structured settlements an option in wrongful death cases. The Rasanzky Law Firm is entitled to an opinion. Because its statement about the role of structured settlements in wrongful death is stated as fact, it deserves a response raising a big question for survivors who may have Dallas Wrongful Death Claims or Lawsuits in Dallas County or Tarrant County, or elsewhere in Texas alleging wrongful death damages from a defendant arising out of an alleged defective product, medical malpractice, an auto accident, a trucking accident, food poisoning, plant explosion, or anything else actionable that causes someone's untimely demise.

Wouldn't a personal injury law firm want to make sure that their clients have ALL options available?

Most do. As an initial matter, if a wrongful death claim or suit is commenced it is because someone that meant something to a survivor died and therefore the money is related to the loss. The money has more meaning than its intrinsic value. Someone's father, mother, husband, wife or child died. 

Consider these reports:

• According to PsychologicalHealthcare.com one of the top things most people most worry about is Money and the future. Whether it's debt; worrying you won't be able to cover all your bills next month; or fear about your financial security in the future – when you have kids or when you retire – financial insecurity is a major cause of stress. ...

• Americans are so worried about money, it's hurting mental health (nbcnews.com)

• "Money is one of the things Americans worry about most in the world. Even in 2018, when the economy was expanding, a survey by the life-insurance company Northwestern Mutual found that more than half of Americans felt anxious or insecure about money sometimes, often, or all the time. And during the pandemic, another survey found that workers were almost five times more likely to worry about money than their health".  -The Atlantic

• While most workers are worried about making ends meet, they are less worried about job availability. Just 33% of those polled are concerned about their employment status and most feel they have job security and/or would be able to find work. This increases to 42% among those who are currently employed part time and to 45% among those who are not currently working. 

• 98% of 12,000+ respondents (Students and Parents) said that Financial Aid Will be Needed  Princeton Review 2023

A structured settlement is one of the solutions to "one of the things that Americans worry about most in the world" and can help manage the life transition from what was, to what will be.

• Provide a stable source of income replacement
• Address concerns of parents or guardians of the consequences of giving an 18 year old a large lump sum when they may not be mature enough to handle it.
• An ongoing source to pay for Long Term Care Insurance
• An ongoing source to pay for Life Insurance
• Stable Income to provide a foundation when starting and building a business instead of going "all-in" with no safety net.
• Foundational income post college so can (1) decide whether or not to share a place with 4 friends by choice, than necessity; (2) decide whether or not to work 2 or 3 jobs by choice, rather than necessity.

4structures.com LLC  has some helpful information that can be found at these links

Structured Settlements for Minors | Here's What You Need to Know (4structures.com)

Structured Settlements for Seniors | Settlement Planning for 60+ (4structures.com)

Structured Settlement Rate of Return Compared to Alternative Investments (4structures.com)

Tax Advantages of Structured Settlements | Taxable Equivalent Yield Chart (4structures.com)