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What’s the Difference Between Qualified vs. Non-Qualified Settlements?

What is the difference between a “qualified” structured settlement and a “non-qualified” structured settlement? When describing a structured settlement, the terms “qualified” and “non-qualified” generally refer to “assignments” and IRC Section 130. The primary tax difference, from a structured settlement recipient’s perspective, is that “qualified” structured settlement periodic payments are excluded from income tax whereas...

5 Things Every Attorney Should Know About Structuring Attorney Fees

5 Things Every Attorney Should Know About Structuring Attorney Fees Most plaintiff attorneys have a fundamental understanding about structured settlements and the benefits structured settlements can provide to their clients. Many plaintiff attorneys, however, are less familiar with potential advantages structured fees can offer for their own financial and retirement planning. Here are five things every attorney should know about structuring...

3 Tips for Preparing a Mediation involving Structured Settlements

3 Tips for Preparing a Mediation involving Structured Settlements From a structured settlement perspective, whenever a plaintiff attorney is preparing for a mediation involving various tort and non-tort case, the attorney should address the following questions:  Have I advised my client about structured settlements and provided my client with adequate resources to allow my client to express an informed...

3 Tips for Preparing a Mediation involving Structured Settlements

3 Tips for Preparing a Mediation involving Structured Settlements From a structured settlement perspective, whenever a plaintiff attorney is preparing for a mediation involving various tort and non-tort case, the attorney should address the following questions:  Have I advised my client about structured settlements and provided my client with adequate resources to allow my client to express an informed...

An Analysis of the Revised NAIC Annuity Suitability Regulation

The National Association of Insurance Commissioners (NAIC) has recently voted to update its Suitability in Annuity Transactions Model Regulation (Model Number 275). States can use NAIC Model Regulations when developing their own laws but have no requirement to do so. Many states previously enacted laws based upon the NAIC’s original 2010 Model Suitability Regulation and most states are expected to quickly amend their laws to correspond with the...

An Analysis of the Updated ABLE POMS Guidance

The Social Security Administration (SSA) has published updated Program Operation Manual System (POMS) guidance for Achieving a Better Life Experience (ABLE) accounts effective March 13, 2020. POMS represent a primary source of information used by Social Security employees to process claims for Social Security benefits. The Direct Funding Debate  Unfortunately, the updated POMS neither mention structured settlements nor clarify the “direct funding debate”. As...