Structured settlement expert John Darer® connects the dots for readers with structured settlement news, information and expert opinion, including settlement planning issues/ ideas for settlement management, incisive Structured Settlement Watchdog® reports that may be helpful to attorneys, plaintiffs, claims adjusters, judges, the news media, sellers and buyers of structured settlement payment rights and interested others, The style is spicy, informative, irreverent and effective. The most prolific structured settlement blog, Check back daily for something new.
A structured settlement is a negotiated financial or insurance arrangement through which a claimant or plaintiff agrees to resolve a personal injury tort or wrongful death claim by receiving all or part of a settlement in the form of periodic payments on a agreed customized schedule, rather than as a lump sum.
A structured settlement is a negotiated agreement
Definition of Structured Settlement under IRC §5891(C)(1)
The term "structured settlement" means an arrangement—
(A) which is established by—
(i)
suit or agreement for the periodic payment of damages excludable from the gross income of the recipient under section 104(a)(2), or
(ii)
agreement for the periodic payment of compensation under any workers’ compensation law excludable from the gross income of the recipient under section 104(a)(1), and
(B) under which the periodic payments are—
(i)
of the character described in subparagraphs (A) and (B) of section 130(c)(2), and
(ii)
payable by a person who is a party to the suit or agreement or to the workers’ compensation claim or by a person who has assumed the liability for such periodic payments under a qualified assignment in accordance with section 130.
Structured settlements can also be used for taxable damages, or for tax exempt damages that are not specifically included in IRC §130 (e.g wrongful imprisonment, wrongful conviction which are exempt under IRC §139F).
How Are Structured Settlements Funded?
Structured settlement payments are generally funded and backed by highly rated and regulated life insurance companies, a number of which have been in operation for more than 100 years. Structured Settlements can also be funded with obligations of the United States Government (Treasury Funded Structured Settlements)
Structured settlements have received widespread bipartisan support from the U.S. Congress since the enactment of the Periodic Payment Settlement Act of 1982.
If You Bank It, Don't Bank on Maximum Financial Aid
Structured Settlements Avoid the Kiddie Tax and Can Be Designed To Minimize Impact on Financial Aid
Parents or guardians of minors who are receiving a settlement in a personal injury or wrongful death case, should give due consideration to how the settlement will impact the ability to receive financial aid for college. Having a lot of money in a bank account, or in a CD coming due at age 18, could reduce or even eliminate, the possibility of receiving needs based financial aid. Depending on the school, the FAFSA (for federal student aid) or CSS Profile (for institution based student financial aid) may be used. Each of those forms requires a significant percentage of student assets be used in its calculation of Expected Family Contributions (EFCs). At present that is 20% for FAFSA and 25% for the CSS Profile.
Structured Settlement Annuity is Not an Asset of Minor
A structured settlement annuity is not an asset of the minor. The structured settlement annuity is owned by a qualified assignment company in most cases. In rare instances it is owned by the Defendant or Defendant's insurer. The minor only has the right to receive payments when due and would have had no control over the establishment of the structured settlement. Furthermore, in accordance with terms of the structured settlement and in compliance with tax code, the periodic payments cannot be accelerated, deferred, increased, or decreased, by the recipient of such payments". [ see IRC 130(c)(2)(B)]
Tax Difference Between Structured Settlements and CDs
Damages for personal injury or wrongful death are income tax free, subject to IRC 104(a)(2). While a lump sum from a personal injury or wrongful death settlement would be income tax free, the interest on a lump sum invested in bank CDs would be taxable. So, for example if you have a 12 year old son and invest in a 5 year CD with Barclay's at time of posting, it would earn 2.75%. The 2.75% would effectively be reduced by the tax on the interest, which could be inflated if there is a kiddie tax [ See below and Taxable Equivalent Yield | What is The Value of the Structured Settlement Tax Benefit?]
Kiddie Tax Impact
The interest on a minor's personal injury or wrongful death settlement could be taxed at a high rates if invested in CDs, or other taxable investments. The Kiddie Tax is applied to the amount of the child's unearned income that exceeds $2,100. The Kiddie Tax rate is parent's or parents' marginal tax rate (the highest rate applied to the last dollar earned) which could be as high as 37%, for the 2018 tax year. [ see IRS Topic 553 Tax on a Child's Investment and Other Unearned Income (Kiddie Tax)]
Notwithstanding the above, there is substantial risk of wasteful dissipation in making a large sum of cash available at age 18. A teenager or young adult could benefit from wealth orientation by speaking to a Certified Financial Transitionist.
On April 9, 2017, the New York State Senate passed a budget that includes a $163-million annual initiative to offer free full-timeundergraduate tuition at public colleges and universities to students with an annual family income of $125,000 or less. No age limit! The new program represents a first in the United States and includes students from many families whose income levels would be considered middle class.
Eligible Students Can Make Use of The NY Excelsior Scholarship Starting With Fall Semester 2017
It's called The Excelsior Scholarship and it was first proposed by New York Governor Andrew Cuomo in January 2017. The program is slated to be phased in over the next few years, but families earning $100,000 or less will be able to take advantage of the scholarship beginning with the Fall semester 2017 with increases in family income to be phased in $110,000 in 2018 and $125,000 in 2019. Students who qualify for The Excelsior Scholarship may avail themselves of a wide selection of colleges and campuses at City University of New York (CUNY) or State University of New York (SUNY). The State University of New York claims to be the largest comprehensive system of higher education in the United States, with 64 college and university campuses located within 30 miles of every home, school and business in the State of New York.
An April 8, 2017 press release issued by Governor Cuomo's office estimates that nearly 80% or more of the 940,000 families with college-aged children would qualify for tuition-free college under the Excelsior Scholarship program.
How Does It Work? What is the potential savings on tuition? When Will Excelsior Scholarship Applications Be Available?
An Excelsior Scholarship recipient can receive up to $5,500 from the Excelsior Scholarship, minus any amounts received for TAP, Pell or other scholarships. The remainder of your tuition charge will be covered through a tuition credit paid through SUNY or CUNY.
It adds up to $25,880 at current rates for a 4 year degree at SUNY schools and $17,400 at current rates for a 4 year degree at CUNY schools, where tuition can go up by a nominal $200 annually.
The New York website indicates that Students in an undergraduate program of study normally requiring five years are eligible to receive the award for five years
New York state's website says that the application for the Excelisor Schiolarship will be first available in May 2017. Check the link at the bottom of this post and sign up for alerts.
Are books, fees and room and board covered by The Excelsior Scholarship?
No
Other Eligibility Rules to Obtain and Continue to Recieve New York's The Excelsior Scholarship?
Must be full time (i.e. 12 credits per term, 30 credits per academic year, including summer school). Important Note: Students with disabilities will not be required to register full time to be eligible for the scholarship at SUNY
Must maintain the necessary grade point average to graduate on time.
Must be a citizen of the United States, permanent resident or a refugee.
Currently undocumented aliens are not eligible.
Do you qualify for The New York Excelsior Scholarship If Your Family Earns More Than The Threshold income?
If your family earns more than that, you don't get the scholarship. There is no sliding scale and the threshold does not take into consideration how many children are in the family.
Students Must Remain in New York For The Same Number of Years That They Received. Why?
If you receive the scholarship for 4 years a student must remain in New York for 4 years. If you don't remain then the scholarship is converted to a loan. Yuck!
Think about it, the Excelsior Scholarship is a costly program that potentially does a lot of good. By providing education that creates more job opportunities for more people to get ahead and potentially earn more money that can be taxed by New York State to finance the program is good business. The fact that there is no age limit expands the opportunity.
Settlement Planning Opportunities and Considerations With The Excelsior Scholarship and Collateral Benefits
Potentially helpful on small to mid-size personal injury or wrongful death settlements involving minors as resources allocated to fund tuition could be deferred longer via a structured settlement to help fund graduate school, in New York (so your scholarship doesn't convert to a loan!).
Consider as an example a minor's settlement involving a 15-16 year old. The short deferral period for a lump sum payments from a structured settlement at 18 or 19 is not cost efficient in the current environment, but payments beginning at age 22 to help pay for grad school may very well be.
Let's take a look at the math. Assuming a 15 year old currently finishing freshman year in high school and expected to start college in 2020 and using the rates of Liberty Life Assurance Company of Boston for illustrative purposes, the estimated SUNY 4 year tuition cost, assuming $200 annual increases each year until and through the 4 years of college would be $29,480. That could be funded at current rates for for about $27,856. If the same amount of money were to instead pay only two annual payments to help with grad school starting July 2024, the total payout would be $33,058. The interest gain accumulated by using taking advantage of Excelsior and using the same premium to fund the graduate payments results in about 3.2 times more interest!
Another option would be to take the same amount of premium generated by not having to fund the annual tuition starting with freshman undergraduate and fund a 5 year income stream after college graduation to help subsidize independence. A monthly payment of $586.09 ($7,033.08 annually) could be generated based on book rates of Liberty at time of posting.
Given that there are no age restrictions, on the one hand a New York resident, possibly a single parent, who had a child or children at a very young age and may have curtailed some education to raise a family, has affordable options and can now go back to school and open a new world of opportunities for themselves and their families.
On the other hand an ambitious senior could get a college degree, just like my maternal grandmother who went back to college after my grandfather died and earned her Bachelors at age 80.
Be sure to consider the cost of room and board and fees not covered by the scholarship.
Stop structured settlement cash now pushers dead in their tracks. As long as the student is willing to go to one of the many fine SUNY or CUNY schools this should seriously eliminate college tuition as an excuse to sell structured settlements. Regulators and judges reviewing transfer petitions will have to be on their toes.
What Excelsior Scholarship Does Not Cover
Room and Board and Fees
Graduate School
If you want to go to a non SUNY or CUNY university, or a school outside of New York Excelsior is not going to help. But if you want to maximize the resources you could attend undergraduate school in New York and one of the many excellent grad schools in New York and then if you like go for another degree at a non New York school.
Useful Resources About The Excelsior Scholarship and Other Financial Aid for Education
State of New York you can sign up to get an alert when the application becomes available
High Education Services Corporation's Get on Your Feet Program, Federal student loan debt relief for New Yorkers.
The low interest rate environment continues to favor New York plaintiffs willing to try strong liability cases due to a 30 year old statutory growth rate juxtaposed against today's low interest rates.
The 4% statutory growth rate under New York's Article 50-B statute, set in 1986, now exceeds the 10 year bond by 2.63%.
Long term damage awards which used to afford a significant discount no longer do so, with the net discount rate closing in on -2%. A negative 2% discount rate is a growth rate of 2%.
What does this mean?
Assume $1,000,000 net future pain & suffering (after accounting for the first $250,000 in future damages under Article 50-B)
Instead of a discount, with a net growth rate of 2.63% for 10 years the present value adds $26,000 plus per year for 10 years to the verdict number.
When calculating the present value of other elements of damages like future medicals and future lost earnings, you could be adding close to $20,000 annually per $1,000,000 to the verdict, for the number of years awarded by the jury
Then interest gets added onto that at 9% (less if state or city government)
New York judges are approving index-linked structured settlements for minors in an Infant Compromise, as part of a proposed settlement planning allocation to complement fixed rate structured settlements in the current interest rate environment. What's the attraction? Priced at approximately the rate of a structured settlement with a 2.3% COLA, index-linked structured settlement payment riders on structured settlement annuities, issued by Pacific Life and Annuity in New York and Pacific Life Insurance Company elsewhere, are ideally suited for a plaintiffs with a long time horizon.
Indexed Linked Annuity Payment Adjustment riders are not a cost effective solution for short term structured settlements.
The initial adjustment cap since the product was introduced has been 5%. That's 5% increase in payments on completion of the first year of payments , but the cost of a 2.3% COLA. If there was a down market the following year the minor's payments stay the same, averaging out to a 2.5% increase annually over the two years with the exemplar. If you are concerned about low interest rates and have the time to spread out your payments then an allocation to the index-linked structured settlement is a good alternative, as some New York judges have discovered.
What is the minimum size for a structured settlement? At least two of the primary companies writing structured settlement annuities will accept a minimum of $5,000. But does it make sense to structure $5,000?
Says one industry colleague in a bar publication, "Is your client a minor? For example, $5,000 awarded to a 5-year-old child could be placed in a Blocked Account with minimal interest rates. However, a structured settlement could easily double, if not triple",
The investment and is both state and federal tax-free. Additionally, the parents have the opportunity to direct the distribution past the minor’s 18th birthday". (emphasis ours)
Comments
The "minimal interest rates" offered on a 5 Year CDs today range from 2.39% to $2.6% at the time of posting. Source: BankRate.com
There is a Kiddie Tax exemption on the first $2,100.00 the child earns as investment or interest income (updated 2018)
Now do the math, assuming $5,000. What's the net return?
Consider that in some cases today one can get a zero (or even a negative) return for a structured settlement cash flow of 5 years or less.
Consider that one of the life insurance companies offering structured settlements for $5,000 charges a $750 qualified assignment fee AND a small case policy fee of $300.00 on a case of $5,000 premium meaning that 21% of the premium is eaten up in fees.
Consider that another life insurance company offering structured settlements for $5,000 has a qualified assignment fee of $500.00 and a small case policy fee of $400.00 , meaning that on a case with $5,000 in premium 18% of the premium is eaten up in fees
Note that a small case fee does not apply over certain amounts, which vary by the life insurance company that issues the structured settlement annuity contact as qualified funding asset.
Because of such fees, a structure for $5,000 premium or other small premiums, should only be considered for very young children, where there is a significant time for deferral or the very rare case where need for spendthrift protection beyond majority age overrides return.
The article states that Orange County Superior Court requires the purchase of an annuity where the net amount distributable exceeds $25,000 and the child is under 15 years of age. Given the information presented above this author, who is also California licensed, suggests that Orange County judges even more carefully scrutinize the proposed cash flows to be sure that the structured settlement is indeed in the best interest of the minor.
In addition to the CDs, over certain durations and for amounts in multiples greater than $5,000, carefully selected structured settlement payment rights purchased on behalf of the minor in the secondary market, as an asset class, might make sense since such cash flows yield more than even CD rates do. Whether or not the Court would approve such purchases by a trust on behalf of a minor is another story.
What Type of Damages Do the Structured Settlement Payments Represent?
Generally the determination of whether a structured settlement payments are income tax free, is based on the reason for settlement and the damages that the structured settlement payments represent. Not all structured settlements are income tax free.
While other tax principles may also come into play, it is critical that constructive receipt, or actual receipt, of the structured settlement funding amount has not occurred.
Ignore The Slick and Inaccurate
A slick presentation about structured settlements by one of my industry brethren includes the following inaccurate information:
The misleading title "Annuity: Always Tax Free"
The inaccurate statement that the governing US code and tax law is The Internal Revenue Code of 1954 which the individual represents is a "mandate that settlement proceeds from personal physical injury claim are always tax free"
Comments
An annuity is not always tax free.
A structured settlement annuity is not always tax free
There is nowhere in the Internal Revenue Code that says that structured settlement annuities are tax free.
IRC 104(a)(2) provides for an exclusion from taxable income, of "the amount of any damages received (whether by suit or agreement and whether as lump sums or as periodic payments) on account of personal injuries or sickness".
The word "physical" does not appear in IRC 104(a)(2). The author of the critiqued presentation has muddled things with its inclusion in IRC 130. IRC 130 came into being with the Periodic Payment Settlement Act of 1982.
The governing law is the Internal Revenue Code of 1986, as amended, not the Internal Revenue Code of 1954.
One must distinguish between taxes on income and taxes upon an estate in the event of death
Since 1918, the tax exclusion includes the terms "whether by suit or agreement".
References
Revenue Act of 1918 Section 213(b)(6) The exclusion for personal injury damages appears in the Internal Revenue Code-see p22
"Amounts
received, through accident or health insurance or under workmen's compensation acts, as compensation for personal injuries or sickness plus the amount of any damages received whether by suit or agreement on account of such injuries or sickness"
Internal Revenue Code of 1954
"Section 104(a)(2) excludes from gross income the amount of any damages received (whether by suit or agreement) on account of personal injuries or sickness. The term damages received (whether by suit or agreement) means an amount received (other than workmen's compensation) through prosecution of a legal suit or action based upon tort or tort type rights, or through a settlement agreement entered into in lieu of such prosecution".
Knuckles v. Commissioner (1965) The determination of whether a settlement amount is excludable must be based on the reason for settlement, which is determined by the wording of settlement agreement.
Credit default swaps are financial contracts that "insure" against the default of financial instruments such as
Credit Default Swaps
and corporate debt which are also traded as a hedge against bond defaults.
Credit default swaps played a major role in the credit crisis that brought the downfall of Lehman Brothers Holdings, the bailout and restructuring of American International Group Inc., and Merrill Lynch & Co. being absorbed by Bank of America Corp.
Today Insurance Journal's Valerie Bauman cites New York Insurance Commisisoner Eric Dinallo:
"I have said for more than a year that credit default swaps should be regulated and that those who write them should be required to hold adequate reserves,'' Dinallo said. "But one thing should be clear.While the credit default swap market is not regulated, insurance company use of credit default swaps is.In New York, no insurance company can use credit default swaps except under very specific and limited ways and only with approval.''
A deal reached in the New York State legislature will hike state income taxes by an astounding 31% for all New Yorkers making more than $500,000 a year reports Sunday's New York Post
A second, slightly lower tier would increase state income taxes by 14.5% for singles earning $250,000 to $500,000 annually and for married and joint filers earning $300,000 to $500,000.
Tax increases increase the intrinsic value of non qualified structured settlements as a tool for resolution of employment cases (e.g. wrongful termination, sexual harassment, qui tam), divorce, structured attorney fees and other settlements which where a non qualified assignment may be used.
New York based celebrities, athletes, actors and actresses may have more incentive to structure their endorsement fees.
To place annuities in New York** you must possess an active life insurance license.
Therefore, to place structured settlement annuities in New York requires an active life insurance license.
There are two types of life insurance licenses in New York: (a) a life agent's license which requires appointment with the annuity issuer and (b) a life broker's license which does not. The type of license you hold will depend on the nature of the licensee's practice. Some licensees possess both a life agent's AND a life broker's license.
It is important to note that from a licensing standpoint New York State DOES NOT MAKE A SEPARATE DISTINCTION between life insurance agents or life brokers and structured settlement brokers, agents, or "broker consultants".
Furthermore, Treasury Funded Structured Settlements as the alternative permissible qualified funding asset, DO NOT REQUIRE any sort of life insurance license.
Courts will insist on New York admitted structured annuity companies where structured settlement annuities are used in minor's cases or other matters requiring Court approval. If you are an adult contemplating a structured settlement annuity as a New York resident, you will also want to only use New York admitted structured annuity issuers.
The New York "Licensed Structured Settlement Broker Consultant" who inspired this article also continues to advertise the Life Insurance Guaranty Corporation of New York despite the fact that such advertising is unlawful,. A website is considered advertising.
What is a Structured Settlement? What You Need to Know What you need to know about structured settlements. General explanation of structured settlements, including the stable guaranteed income and favorable tax benefits that give structured settlements their "juice" and a helpful introductory video featuring 2021 A.M. Best Recommended structured settlement expert and Registered Settlement Planner John Darer® of 4structures.com® LLC
How Do Structured Settlements Work? Structured Settlement Diagram How structured settlements work, accompanied by 4structures.com® LLC's helpful structured settlement flow chart/diagram showing how structured settlements fit in with other 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].
Structured Settlement Annuity Companies 2021 Which life insurance companies issue structured settlement annuities going into 2021? 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, links to their websites and other useful information.
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.
Compare Structured Settlement IRR to Other Settlement Alternatives 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 Ways You Can Structure Your Settlement Payments. 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 or even an index linked structured settlement.
Structured Attorney Fees for Tax Deferral for 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 the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. 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.
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 for 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, Transamerica, AEGON, GE Capital, Liberty, CNA) or changed its name and you're trying to track them down, here you go! The list is regularly updated. Last update October 2020.
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.
STRUCTURED SETTLEMENTS 4REAL® Blog Is a Popular Source of Structured Settlement News and Information, Settlement Planning News, Tax Deferral and Deferred Income Planning Solutions,
with a stable readership that seeks credible structured settlement information and/or opinion about topical issues related to settlement planning, targeted to lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance company executives and adjusters, financial advisers settlement professionals, financial professionals, insurance regulators, government leaders, federal and state law enforcement, buyers and sellers of structured settlement payment rights, the news media and other interested parties.
4structures.com LLC established the structured settlement blog in 2005 and for over 15 years it has been a leading source for critical commentary. The John Darer authored blog has been among the most prolific, regularly providing fresh structured settlement, settlement planning and litigation recovery management content and commentary . John Darer®, CLU ChFC MSSC CeFT® RSP CLTC, President of Stamford, CT based 4structures.com, LLC, is an experienced New York City area structured settlement expert, structured settlement broker, Certified Financial Transitionist, and Registered Settlement Planner.
WHAT YOU GET here is the straight stuff with a touch of irreverence and humor. We hope you enjoy and find the content to be helpful..
Subscribe to the structured settlement blog feed, or a specific category feed through your blog reader, or through the Feedburner icon on this page. Followers of JDDarer™ on Twitter may also receive select content.
Thank you for reading!
New York Structured Settlement Expert Whether you're at the crossroads of the world or the crossroads of your life, structured settlements provide stability for when life is at a crossroad. Call 888-325-8640
New York Settlement Planning Expert for NY Attorneys and Residents - YouTube New York settlement expert John Darer's comprehensive approach to Settlement Planning helps New York personal injury lawyers and their clients move through the financial transition resulting from a major life event. CPLR Articles 50A and 50B expertise for New York lawyers
New York Structured Settlement Expert Useful information and ideas about structured settlements, settlement planning and litigation recovery managements for New York residents, New York Lawyers and New York judges
New York General Obligations Law §5-1702 The New York Structured Settlement Protection Act imposes mandatory requirements on the defendant or the defendant's legal representative when a structured settlement is created (as part of the resolution of a case)
Structured Settlements v Structured Judgments Often confused by writers on the Internet, but there IS a difference between structured settlements and structured judgments under CPLR Articles 50A or 50B. Find out more...
CT Settlement Planning | 4structures.com LLC Video Registered Settlement Planner John Darer discusses the broad array of settlement planning services offered to Connecticut lawyers and their clients living in Connecticut, or elsewhere.
"Impressive Blog" -Counsel to Am Law 200 ranked International Law Firm July 22, 2020
"Thank you so much for giving us your time and leading us in the right path , Thank you, you are a God send , God bless you in all your works" -K April 11, 2017
"Once again, I can't tell you how appreciative I am for your help. In today's day and age, it is rare that you actually find people who are willing to go the extra mile..." -TC May 5, 2015
"I wanted to send you this email to say Happy New Year to you and your family. May God continue to bless you. I am grateful that I had the opportunity to meet you on the phone. I truly thank you for introducing me and my son, (redacted) to (lawyer). It is people like you that God put in the path of my son situation. Thanks a million times! {original on file] 1-2-2015
"John Darer has been nothing but honest,helpful,informative with options, & his
"time" was NEVER an issue!"-Andrew S 8/18/2012
" I wish there were more like you" JG 9-15-2014
In my opinion, John Darer is an excellent consumer advocate in the insurance industry. When I had no one else to turn to after running up against the stone walls of these giant insurance company, John Darer used hours of his own time to investigate my situation. Not only is this an invaluable service to me the consumer but it is also of great value to the insurance industry by providing them consumer feed-back. This allows the insurance companies to correct their faults and move toward greater transparency which improves the overall public image of the insurance industry as a whole" JW 9/4/2014
John, Keep fighting the fight. -NASP member 12-4-2013
John...Thank you for your professional advice-Brandon 11-13-2013
"...Thanks to Mr. Darer's blog and personal pointers I was able to obtain a fair price for the sale of client structured settlement. Therefore, if one has no choice, but to sell their settlement educate yourself first before selling start by reading John's blog" Mr P. 11/17/2012
"I always appreciate when he (John Darer) keeps us informed on regs and rules. No one does it better"- structured settlement industry colleague and reader RY 7/26/2012
"Amen - and continued thanks for your vigilance, John"- RL 8/18/2011
"Thanks for writing these great blogs on your site John! As an individual investor I have learned so much about the secondary market (for annuities, structured settlements, lottery payments, etc.) from your blogs and video series!!!" (6/5/2011)
I have found the intelligent and forthright information on your site a godsend. So much so I have tried in a small way to pass on my findings to others. Please keep up the good work and enhance your well deserved reputation as the authority on this subject- Mike 4/29/2011
John -
I can't thank you enough for bringing this to my attention. In my wildest dreams... PJ-May 12, 2011
John, I love reading your blog! Not only have I found very useful information there, but the comedy is much appreciated! Thanks for talking about "the big pink elephant in the living room" that everyone else ignores!
Thank you again for your help via phone and blog! I really needed to hear what you had to say today! BM 11/23/2010
John—this (video published 11/2010) is a well done piece. I like the way you always stick to the facts-AM
What a wonderful blog you have! I have completely enjoyed reading some of your posts (4/16/2010)
Thank you so very much for discussing my concerns about Symetra, my annuity company. I am amazed that PI attorneys as well as a settlement broker in San Diego, could not answer the simplest questions I had regarding the Safeco/Symetra issue. Your blog/web site is most interesting and informative, and I am grateful you have take on the "watchdog" role!
Thank you so much again (3/25/10)
"Keep up the good work exposing abuses in our industry - our future depends on clients being properly advised."-CD
Just checked out your blog and loved it. Keep up the good and balanced work-DL
"...we have never met but I thoroughly enjoy your web site and blog - excellent material…-PB
"I enjoy your website and its content. Informative and well written"-JC
I heard a radio ad for the Peachtree Settlement Fund as I was driving into work this morning. (San Francisco Bay area.) I decided to check it out on the Internet and came upon your blog. Thank you very much. I do not have a “structured” settlement,
"All the others that I had emailed & have seen on the net were "cash now types" & have no concern of me & just are looking for my $$$. When I came across your site & blog I realized that u are an upstanding guy & are not like others. That's why I emailed"
This was Great. Right On Point-TS
"Other Than John Darer No One Seems To Be Doing Anything"-J
Thanks for your help and also for the good work you do on behalf of our industry-L
"Thank you for being the inspiration that you are and for being a strong advocate for integrity in our business"-KL
"I Commend You On Your Effort To Make a Difference!" -R
"He is a fabulous writer who has a great passion for the structured settlement industry. I commend him on the passion he invokes when he writes on his blog listed above. That type of commitment and passion is hard to find and is rare in this world" -AC
Structured Settlement Best Practices Corner
New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
When it comes to settlement documents it is the ultimate responsibility of the lawyers or claims adjusters who receive input concerning the structured settlement aspects of the documents to actually read the entire document, exercise independent thought and advise their clients properly
Be aware that financial advisors use of testimonials is prohibited or restricted
Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
Number of States That Prohibit Payment of QSF expenses by licensed agents and brokers
All posts Copyright 4structures.com, LLC 2021. All rights reserved. Ongoing filings have been made with the United States Copyright Office. Except for those videos in which John Darer appears or any video advertisements or public service videos appearing on, this blog, no claim is made to videos, music or images in any mashup which are the property of their respective owners
Structured Settlement Watchdog® is a registered trademark of 4structures.com LLC.Reg. 4711312 All rights reserved.
John Darer® is a Registered Trademark of John Darer, Stamford CT. Reg. 4674907 All rights reserved
4structures® Reg. 4640532 and 4structures.com® Reg. 4640531 are Registered Trademarks of 4structures.com LLC. All rights reserved
Structured Settlements 4Real® is a Registered trademark of 4structures.com LLC Reg.4345946 All rights reserved.
Comments and Trackback Policy
Comments and Trackback Policy
Comments to this blog are encouraged, welcome and add spice to the interactive nature of blogs. However, the unscrupulous practice by some to deliver comment spam, to connect all manner of unrelated products to structured settlements, detracts from user experience, is NOT tolerated by this author and thus necessitates the practice of comment screening.
Jay J. Sangerman, PLLC A New York and Florida based AV rated estate planning law practice with an emphasis in Supplemental Needs Trusts, which assists attorneys in efficient case settlement though the use of Supplemental Needs Trusts and Special Needs Trusts; and Elder Law
Day Pitney LLP - People - Keith Bradoc Gallant Brad's practice includes traditional trust and estate planning and administration, special needs and disabilities planning, planning for same-sex couples and their families, planning for incapacity, and all types of probate litigation.
Halland Sickels Frei Mims Hall and Sickels is a full service personal injury attorneys and largest plaintiff's personal injury firms in Northern Virginia
Belluck & Fox, LLP Help with Information about litigation concerning Mesothelioma and Asbestos from New York Law firm
Helpful Structured Settlement Information is Here!
Learn more about structured settlements by reading structured settlement expert John Darer's blog
Researching Structured Settlements? Check (1) in Archived Blog Posts (above left); (2) use the Google search box (below); (3) visit the 4structures® website at https://www.4structures.com, (4) 4structures® YouTube Channel by clicking the above link, or (5) call settlement expert John Darer® at 888-325-8640, toll-free in the USA or 646-849-1588 in New York City
Subscribe to a Specific Category Feed for a subject you like or the Whole Blog
SUBSCRIBE to the dedicated RSS feed for the Structured.Settlements 4Real® blog category that interests you. For example, if you are just interested in reading about "New York Structured Settlements" you can follow that feed. Just click on the category title tag at the bottom of a post you like and then the little RSS symbol on the resulting page.You can also subscribe to the whole blog
The John Darer® authored Structured Settlements 4Real® blog is the most prolific structured settlement blogger with over 5,200 blog posts, and counting!
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.
FactCheck.org nonprofit "consumer advocate" for voters that Aims to reduce the level of deception and confusion in U.S. politics. They monitor the factual accuracy of what is said by major U.S. political players in the form of TV ads, debates, speeches, interviews and news releases.
NYC 9-11 Health The World Trade Center Health Registry is now the largest registry in U.S. history to track the health effects of a disaster. The federally funded program is information central for first responders and others with health issues from 9-11
Comments and Trackback Policy