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Comparing the Advantages: ABLE Accounts vs. Special Needs Trusts
Structured SettlementsAugust 31, 2020by Patrick Hindert

Comparing the Advantages: ABLE Accounts vs. Special Needs Trusts

The COVID-19 pandemic and near zero long term Treasury rates have required both structured settlement professionals and settlement planners to re-think how they market and how they sell structured settlement annuities. Serena Fitchard, nicely summarized a more expansive structured settlement sales approach during a recent National Structured Settlement Trade Association (NSSTA) webinar: “structured settlements serve a greater...

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Celebrating $250M with a Giveaway!
Company NewsAugust 24, 2020by Patrick Hindert

Celebrating $250M with a Giveaway!

For so many people starting a business and watching it succeed through hard work, courage, and a little bit of luck is the American dream. This certainly embodies the journey our team at Independent Life has experienced.  As a result of those factors and the growing support of settlement professionals and attorneys across the country,...

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Defining Income: IRC vs. SSA
Structured SettlementsAugust 24, 2020by Patrick Hindert

Defining Income: IRC vs. SSA

IRC vs. SSA Every structured settlement and settlement planning professional is presumably well-familiar with the Internal Revenue Code definition of Gross Income in IRC 61 as well as the exclusion for periodic payments in IRC 104(a)(1) and (2), plus many other Internal Revenue Code Sections (130; 468B; 5891) and tax concepts (constructive receipt; economic benefit) that have become the foundation...

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Case Study: Medicare Set-Asides
Case StudiesStructured SettlementsAugust 20, 2020by Patrick Hindert

Case Study: Medicare Set-Asides

Medicare Set-Asides A self-insured municipality referred a case involving a 54-year old police officer who sustained catastrophic injuries attempting to take a suspect into custody.   The Case The police officer received conservative treatment initially and eventually underwent multiple surgeries to aid his recovery. After his surgeries, complications arose, and he was living in constant...

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ABLE Accounts + Structured Settlements, Now a Possibility?
UncategorizedAugust 17, 2020by Patrick Hindert

ABLE Accounts + Structured Settlements, Now a Possibility?

Since The ABLE Act created IRC 529A in 2014, ABLE accounts have become popular financial and settlement planning tools for qualifying disabled individuals. The ABLE Act allows states to create tax-advantaged savings programs for eligible people with disabilities that began prior to age 26. Funds from these 529A ABLE accounts can help designated beneficiaries pay for qualified disability expenses. Distributions are...

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Case Study: Workers’ Compensation
Case StudiesAugust 13, 2020by Patrick Hindert

Case Study: Workers’ Compensation

A 40 year-old male employee was catastrophically injured during an auto accident resulting in paraplegia and a traumatic brain injury (TBI). The adjuster for the self-insured employer referred this challenging workers’ compensation claim to Independent Life. The Case The injured worker spent the last two years in and out of facilities stacking up costly medical...

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