Structured settlement expert John Darer reviews the latest structured settlement news, information and provides expert opinion and commentary, including settlement planning issues/ ideas for settlement management, incisive Structured Settlement Watchdog® reports that may be helpful to lawyers, plaintiffs, claims adjusters, judges, the news media, sellers, buyers of structured settlement payment rights and interested others, The style is spicy, informative, irreverent and effective. The most prolific structured settlement blog, Now in 18th Year! Check back daily for something new.
A Society of Settlement Planners Board member needs to get their facts straight. Based on what appears on the Settlement Professionals Inc. website today, former SSP President Jack Meligan, gifted settlement planner from Oregon and yellow highlighter "black belt", could never be confused for someone who actual read the two legal cases that he cites,and uses, in an attempt scare plaintiff attorneys into doing business.
On the subject of Limiting Plaintiff Liability, Meligan writes (highlights included):
In Macomber v. Travelers Property & Casualty Corp. and Lyons v. Medical Malpractice Insurance Assoc.,plaintiff attorneys have been sued for the harm sustained by their clients at the hands of the defense-provided structured settlement brokers.
Reality
No plaintiff attorneys were named Defendants in the lawsuit captioned Macomber v Travelers Property & Casualty Corp.
The settlement profession has evolved over the years. It is important for plaintiff attorneys and their clients to have someone who is qualified, and that they feel comfortable with, to advise them on settlement planning and transitional financial planning issues. That being said there's no excuse for the likes of Settlement Professionals Inc. or anyone else to promote themselves using unreasonable scare tactics, such as citing facts that don't exist.
Plaintiff Yanisse Adrian received no "besos" from United States District Court judge Francisco Besosaas he granted the defendants' summary judgment motion an dismissed her case against Mesirow Structured Settlements, LLC, et al. The result of the case, in which it appears neither the plaintiff nor her attorney had timely settlement planning representation underscores why EVERY plaintiff, directly, or through their attorney, should early on seek out the services of a credentialed settlement planner INDEPENDENT OF THE DEFENSE.
During the pendency of the case the tax laws in Puerto Rico changed. On July 4, 2006, new Act No. 117:
Categorized payments for mental anguish as taxable income. ( P.R. Laws Ann.,
Tit. 13, § 8422(b)(5) and later Administrative
Determination 07-01, which clarified that such payments are subject to withholding
Payments for physical injury were not categorized as
income.
Yanisse Adrian had contended that she only accepted a structured settlement as a result of her reliance on numerous representations made to her by defendant
Mesirow Financial Structured Settlements, LLC ("Mesirow"), a structured
settlement broker. Adrian further alleged that she would not have agreed to the
terms of the April 17, 2007 settlement were it not for her reliance on Mesirow's
advice and promises regarding Adrian's tax immunity. Adrian alleged that she
relied on Mesirow to advice her regarding Puerto Rico's tax laws and the
requirements of Puerto Rico's Treasury Department ("Hacienda"), and that Mesirow
made representations to the effect that Adrian would not owe taxes to Puerto
Rico (nor would any withholding occur) related to the settlement of her suit if
she opted to rely on Mesirow's services. Mesirow was accused of (1) negligence; (2) negligent misrepresentation; (3)
fraudulent inducement; (4) breach of fiduciary duty; (5) equitable estoppel; and
(6) promissory estoppel.
Mesirow argued that it had no influence on the plaintiff's settlement decisions and that it had legitimate concerns not to be exposed to potential tax liability or regulatory action against their insurance licenses or criminal prosecution for failure to follow Puerto Rico law.
The conclusions of the Court have important implications for structured settlement and settlement planning practice.
A. Misrepresentation
According to Mesirow, Yanisse Adrian could not show that her reliance was reasonable
because the alleged misrepresentationregarded a matter of law and regarded
matters plaintiff could ascertain independently. "There is no liability for
casual statements, representations as to matters of law, or matters which
plaintiff could ascertain on his own in exercise of due diligence." Id.
(citing AMA Management Corp., 309 S.C. at 874. A plaintiff's reliance is
justified only if "the defendant occupies a superior position to the plaintiff
with respect to knowledge of the truth of the statement made." O.C. Gruber v.
Santee Frozen Foods, Inc., 309 S.C. 13 (Ct. App. 1992).
What the "L"?
Adrian implied that (Connie) "Klinger"** (sic, Mesirow's representative who is no relation to and much better looking than "Max Klinger" of Toledo Ohio, right ), as a licensed life insurance agent, a certified
structured settlement consultant, and a member of the National Structured
Settlements Trade Association, whom Adrian trusted to keep Adrian's best
interests in mind, held herself out as someone occupying a superior position as
to the tax matters as issue. Further, Adrian argues that "Klinger's" promises
"were made without any qualification that Plaintiff get any tax advice." (Docket
No. 147 at 19.) The court found this argument is without merit. The Court went on to state that Adrian cites no legal authority to support her contention that a plaintiff may
rely upon a defendant's statements if those statements were unqualified by a
suggestion to seek outside advice.
B. Duty of Care
The Court reasoned:
The primary broker-client or broker-buyer relationship here that would
come closer to the sort of business relationship alluded to by Adrian's analogy
was not between Mesirow and Adrian, but between Mesirow and Fireman's Fund, and
perhaps with the other defendants.
Even though Adrian may have exhibited
her trust in Klinger's (sic) judgment, and even though Klinger (sic) may have intended for
Adrian to trust Klinger's (sic) judgment, the fact is that Klinger (sic) worked for the
defense side of the underlying case, and she took direction ultimately from
Fireman's Fund; she was not beholden to Adrian.
C. Breach of Duty
Because Klinger's actions and efforts were more than reasonable in the
circumstances, the Court finds that neither she nor Mesirow breached any duty. The Court stated that the record shows that Klinger (sic) acted
diligently to research both the possible tax consequences of a structured
settlement by reading a translated version of the Puerto Rico tax code and
discussing the tax issue. It reasoned that although Klinger's efforts may not have been successful, the record shows that
those efforts were made.
D. Promissory Estoppel
The Court claim of promissory estoppel was dismissed on summary judgment because the Court had already concluded that Adrian's reliance on Klinger's alleged
statements was unreasonable. The Court had already concluded that Adrian
had independent knowledge regarding the facts in question.
Source: Excerpts from the Opinion and Order
ADRIAN v. MESIROW FINANCIAL STRUCTURED SETTLEMENTS, LLC
YANISSE ADRIAN, Plaintiff, v. MESIROW FINANCIAL STRUCTURED SETTLEMENTS,
LLC, et al., Defendants.
Unlike the facts and circumstances involved with a 2001 decision
Lyons v MMIA 730 N.Y.S. 2d 345, privity did not come into play.
Plaintiffs' counsel! Here is the seminal case for why you and/or your
client need your own settlement specialist. It need not matter that
the specialist is plaintiff exclusive. It does matter that:
(1) you have your own settlement expert;
(2) The settlement expert is properly credentialed;
(3) you retain the settlement expert early enough to have an impact
In
a bizarre twist, it should be noted that a review of the record for the
case shows that the plaintiff DID eventually consult with her own
settlement consultants, Joe DiGangi and Tucker Ervin of Millennium
Settlements, but "late in the day". Among other things in the record is a
transcript of DiGangi's deposition, copies of communications and
proposals.
Notes
**Connie "Klinger" is the misspelled name of a Tampa insurance agent whose name is Connie Klingler.
For those who don't know,"Max Klinger " was a fictional character at 4077th Mobile Army Surgical Hospital (M*A*S*H) during the Korean War who had an affinity for dressing in womens' clothing in repeated but futile attempts to gain a discharge from the Army on psychological grounds. The sitcom,/dramedy series ran on CBS from 1972-1983 and is still seen in reruns. Actor Jamie Farr played the role of Klinger in the television series.
One of the rejected tabloid titles for this post was "Relies on "Klinger" Gets Klanger"
On an even more lighter note, one thing Yanisse's attorney Hulsey won't be shouting...
Post Script: On July 12, 2010 Plaintiffs filed notice of appeal. Stay tuned.
Plaintiff attorneys should retain a settlement planner or settlement consultant and should do so before crunch time if possible. The dynamic nature of the business and the sometimes life impacting significance of financial decisions means that you and your client need to be adequately prepared and informed.
Consider the individual or individuals you select to work with based on skill sets, credentials (such as Registered Settlement Planner) and experience not on bogus "legal malpractice" scare tactics that are prevalent in my industry's advertising to trial lawyers.
Let's dissect the statements made in one such advertisement:
1. Not all structured settlement brokers have the interest of your client in mind.
Comment: TRUE
2. It’s not at all uncommon for the defense to argue to have their own Structured Settlement Planner handling the settlement.
Comment: TRUE, but contrary to the implication of such solicitation, that DOES NOT preclude you from retaining your own structured settlement planner or consultant at no extra cost.
3. Not surprisingly, these arrangements often favor the interest of the defense over the interest of your client. (See our article, “Three Cases Every Plaintiff Attorney Should Know” for details.)
Comment: The "novice" in question is referring to cases that highlight alleged old business practices. Some of these documents are pushing a decade old. In real estate there is a buyer's broker and seller's broker. Over time you will learn who the ethical ones are. There are many credible players who work with both defendants and plaintiffs (although not on same case of course) just as there are lawyers who do. Furthermore, I can cite examples where the consultant elected by the plaintiff lawyer has not acted in the best interest of his clients, whether through inexperience or whatever.
4. Moreover, these arrangements result in significantly greater long-term liability for plaintiff attorneys.
Comment: The oft cited Grilllo v Pettiete matter was significant, but why hasn't any "fear mongerer" been able to cite any more recent cases?
5. The following questions will help attorneys assess their own long term risk:
a. Are you failing to retain your own financial expert?
Comment: Good question, might want to expand to "settlement planning expert".
b. Are you neglecting Medicare Set Aside Accounts?
Comment: Better put, "are you aware of the Medicare Secondary Payer Act and your responsibilities under it?"
c. Are you releasing your client’s medical records to defendants without consideration of HIPAA requirements?
Comment: By all means consider HIPAA requirements. Yet some argue that the plaintiff attorney should use the HIPAA rules to restrict the use of medical records for medical underwriting of structured settlement annuities that may be offered to your client so that the defendants cannot abuse your clients.
d. Are you inviting taxable confidentiality clauses into settlement agreements?
Comments: Dennis Rodman (left) retired from the NBA in 2000. More than a decade later the January 21, 1997 "confidential settlement" of a case involving the stomping of a cameraman during a January 15, 1997 NBA game resurfaces.
Eugene Amos Jr. v. Commissionerof Internal Revenue, the United States Tax Court stated that "if a settlement agreement lacks express language stating what the amount paid pursuant to that agreement was to settle, the intent of the payor is critical to that determination." 2003 WL 2289795 (U.S. Tax Ct, 2003)
Note that Intent of Payor=Intent of Defendant, Insurer (or Qualified Settlement Fund Administrator/Trustee, in some cases).
5. Are you unaware of tax consequences in taxable damage cases?
Comment: Weak "tantalizer" that only scratches the surface and most likely will result in a a reader thinking "well.duh!" . Better put, "are you aware of the tax implications of differing methods of settlement in cases where all or a portion of the case involves taxable damages? Wouldn't it make sense to explore the best option for you (your client)?"
The same beleaguered cast of characters continue to play the scare game. I've identified them time and time again.
Perhaps undisclosed to their clients, some of these "plaintiff exclusive" types are even setting up defense arms of their companies at the same time they are scaring you into working with them.
DON'T BE SPOOKED!
Work with quality settlement consultants and settlement planners based on skill sets and verifiable credentials (such as Registered Settlement Planner) and avoid the "horror show"
This morning I, and other's subscribing to attorney John J. Campbell's Medicare Set Aside Bulletin, received issue number 47 dated August 7, 2008. The excerpt leads to the full story, which has the same issue number dated the same date but in 2006.
Among other things Campbell, a respected elder law attorney, but NOT a tax attorney, makes the perfunctory "one or more " argument to justify Congressional intent and the use of an IRC 468B Qualified Settlement Fund in case involving single claims.
Unlike 6 or 7 years ago, It can easily be argued today a number of settlement professionals who recommend this device are interested in grabbing all of the commission on the placement of structured settlement annuities. Only one qualified assignee states that it will accept qualified assignment from a single claimant qualified settlement fund. So as things sit today, if you want a structured settlement out of such single claimant qualified settlement funds, your client will not get the full market opportunities that the proponents advertise. This fact may or may not be made transparent by the proponent.
Failure to protect the opportunities for structured settlement diversification could later come back to haunt the plaintiff attorney with a legal malpractice claim. The attorney may not be insulated for his or her ignorance.
Any effort to mass produce single claimant qualified settlement funds for purpose of greater commissions that can be used to fund greater state or national affinity contributions, while having prior knowledge of the above and #4 and #5, is a recipe for disaster.
This author opines that there is not enough errors and omissions insurance to cover the collective advice on single claimant qualified settlement funds currently being given in this area by settlement professionals or rampant use by the "QSF jockeys" in the industry.
Despite the promises by proponents of a ruling from the United States Treasury department on the viability of such transactions, there has been none. It appears that proponents are trying to stir up confidence by publishing articles, which ignore points 1 and 2 above. Then, of course legal articles and opinions are not binding on the Internal Revenue Service as any disclaimer will tell you.
That being said a IRC 468B Qualified Settlement Fund is a valuable tool on the appropriate case. There are innovative ways such cases are being currently used in the mass tort arena.
Today's Fort Myers News Press includes an interesting article by Fort Myers, FL elder law attorney William T. Edy, CELA, concerning Special Needs Trusts inspired by his attendance at the Academy of Special Needs Planners meeting in March. While the article is of interest concerning special needs trusts it contains certain points that are grossly inaccurate.
The article by William T. Edy, CELA' includes the following:
"The attorney hired a Certified Financial Planner, or CFP, who restricted her
practice to preparing life care plans. The individual was a member of the
Society of Settlement Planners, or SSP, and had completed the required course
work at Texas Tech University for her Registered Settlement Planner, or RSP,
designation. Until the formation of the pro-plaintiff SSP, structured
settlements were largely controlled by structured settlement brokers who were
the alter ego of the defense insurance industry. The RSP and the personal injury
attorney both worked with a Special Needs Trust attorney, who was a member of
the Academy of Special Needs Planners (ASNP).
The RSP prepared a life care plan which set out in detail an economic
forecast of her rehabilitation, as well as future medical and financial needs.
The plan was a system of charts, tables and narratives grouping Sarah's future
needs into distinct categories by age, which can be easily understood by defense
counsel with whom Sarah's personal injury attorney had to negotiate a
settlement. The life care plan can also be easily explained to a jury if the
case goes to trial, which is unlikely since liability is unquestioned. It will
also assist the judge in approving the terms of any settlement. Many personal
injury attorneys utilize the services of a RSP who can also explain to the court
and the client the tax advantages of a structured settlement and the use of a
Special Needs Trust to preserve SSI and Medicaid".
Comments/ Corrections
Did William T. Edy, CELA, take the opportunity to obtain one of the free memberships that Society of Settlement Planners (SSP) was offering at the ASNP meeting?
As a candidate in the inaugural class of the Registered Settlement Planner Program (RSP) at Texas Tech, I can state that as of the date William T. Edy's article was written, nobody has completed the required coursework for the Registered Settlement Planner (RSP) designation.
Can one legitimately promote a planner, example or not, when the completion of 2 courses is required to meet the educational requirement of the Registered Settlement Planner (RSP) designation? In other words as of today's date there ARE NO RSPs. There are only candidates for RSP.
William T. Edy characterizes the establishment of the Society of Settlement Planners (SSP) as the watershed event concerning the control of structured settlements. As a Founding Professional and former member of the SSP Member I disagree.
While the establishment of the SSP turned out to be a...er... "factor", in my opinion these are far more significant:
The PLR obtained in 1983 which stated that disclosure of cost of a structured settlement is not constructive receipt.
The Weil case- a November 2, 1994 decision by the United States Court of Appeals for the 9th Circuit, which decided whether consultants who advised tort plaintiffs on structured settlements
have suffered antitrust injury when they can't get information about premiums
and rating practices from, or serve as brokers to arrange annuities to fund
structured settlements with, life insurance carriers because of an alleged
boycott by life insurance carriers and brokers who specialize in arranging
annuities in behalf of tort defendants.
The influence, intellect and innovation of Richard G. Halpern
The hard work of qualified professionals (some of whom ARE, but most of whom ARE NOT associated with the SSP) to market to and most importantly, to educate the plaintiff's bar. Consider that a significant benefit that may now be taken for
granted by plaintiff structured settlement consultants, settlement planners, "special needs planners" and elder lawyers, such as the death commutation rider, was the result of
two NSSTA member firms, (one of which this author was
involved with at the time) collaborating with Allstate Life Insurance
Company in the mid 1990s to obtain the Private Letter Ruling which
spawned commutation riders at other annuity issuers and solved a major
problem for plaintiffs who wanted structures, but were concerned about
estate tax liquidity issues in the event of premature death.
The advent of the Internet and the expanded use of same by settlement professionals and attorneys to deliver marketing messages and education since the latter part of the 1990s.
The subsequent advent of Web 2.0 media such as blogs, wikis, podcasting and the expanded use and adaptation of same by settlement professionals and attorneys to deliver marketing messages and education in the past 3-4 years.
The dawn of the era of "business partnerships" involving the payment of large sums of money by structured settlement firms and settlement planning firms to trial lawyer associations for access in the last 5 or so years.
A legal malpractice trial in Edwardsville, Illnois courtroom has reopened old wounds about the area's most notorious swindler James Gibson "who stole millions from children and widows by making off with their structured settlement funds".
In the case plaintiff's attorney Rex Carr is trying to convince the jury to take pity on another victim in the "debacle," his client, Magna Bank ( which is now Regions Bank).
According to The St. Clair Post, Carr opened the trial with "Ladies and gentlemen of the jury, yesterday when you took your oaths, you became part of a Judicial Hellhole" and proceeded to tell the assembled members, including two alternates, that all of the judges, attorneys and juries in Madison County are corrupt.
The Gibson scandal, which hit in the terrible time period which followed the Executive Life of CA debacle of 1991, involved structured settlements using government bonds through a contractual arrangement between GIbson's company SBU and Magna. In 1993, Gibson told Magna Bank that pursuant to contract, he would terminate the agreement and take the money elsewhere. Magna Bank refused to release the funds, so Gibson sued the bank. St. Clair County, Illinois Circuit Judge Robert Hillebrand ruled that the agreement allowed termination and granted summary judgment to SBU. Magna appealed to the Fifth District, but the summary judgment was affirmed. After several more years of litigation, Magna gave possession of the government bonds to Flag Financial, a shell corporation Gibson owned in Missouri.
In the legal malpractice case plaintiffs claim that based on the advice of defendant Thompson Coburn, Magna did not file an appeal with the Illinois Supreme Court because the law firm allegedly advised the bank that it had no grounds to resist SBU's termination of Magna's trusteeship and joined in a stipulation with SBU by appointing Flag Finance as the successor trustee which allowed Gibson to have possession of the bonds.
Gibson eventually stole the money and purchased personal items like homes, cars and yachts. Magna was eventually sued by victims of Gibson's flim flam, who alleged the bank breached its fiduciary obligations to the injured tort victims.
The defense argued that in this legal malpractice case, the plaintiff is a banking conglomerate and not the tort victims, with the cause being the single event of James Gibson stealing money. The defense alleges the bank paid "too much" in settlements (to tort victims of the Gibson swindle), and this legal malpractice suit, filed in 2004, was "manufactured" to recoup losses after settling litigation.
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 2023 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].
Structured Settlement Annuity Companies 2023 Which life insurance companies issue structured settlement annuities going into 2023? 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.
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, index linked structured settlement payments and market based structured .
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, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life) or changed its name and you're trying to track them down, here you go! The list is regularly updated. Last updated January 23, 2023.
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.
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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STRUCTURED SETTLEMENTS 4REAL® Blog Is a Popular Source of Structured Settlement News, John Darer Reviews and Information, Settlement Planning News, Tax Deferral and Deferred Income Planning Solutions,
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4structures.com LLC established this structured settlement blog in 2005. For over 17 years it has been a leading source for critical commentary. The John Darer authored blog has been among the most prolific, regularly providing reviews, fresh structured settlement, settlement planning, 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.
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Last updated April 20, 2023
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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
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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...
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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
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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.
Helpful Structured Settlement Information is Here!
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Researching Structured Settlements? It may be helpful to check (1) in Archived Blog Posts (above left); (2) use the Google search box (below); (1) visit the 4structures® website at https://www.4structures.com, (4) vist 4structures® Structured Settemlent Experts YouTube Channel by clicking https://www.youtube.com/user/4structures1, or (5) call settlement expert John Darer® at 888-325-8640, toll-free in the USA, 646-849-1588 in New York City, or 203-325-8640 in CT.
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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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