Structured settlements offer many benefits compared to a lump sum settlement. One of the most important advantages is the option of receiving lifetime benefits. With lifetime structured settlement payments, unlike a lump sum settlement, it is impossible to outlive your settlement award. This priority for long term security is exactly what led to the creation...
Independent Life recently had the opportunity to play a critical role in the resolution of a complex claim that had been going on for over 6 years. Overview: Hector, a 40-year old construction worker, fell 30 feet from the roof of a warehouse and suffered severe brain and spinal cord injuries. The accident has left...
Since it was first published in 1986, “Structured Settlements and Periodic Payment Judgments” (S2P2J), has provided structured settlement stakeholders with an authoritative reference guide, consisting of 16 chapters with extensive footnotes and Appendix documents, to help them understand historical development as well as current issues and fashion settlements and judgments utilizing periodic payments. Both the National Structured Settlement...
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...
How Can Public Benefits Supplement Your Structured Settlement? One of the first steps every personal injury plaintiff should take following an accident, with the assistance of your attorney or structured settlement planner, is to take an inventory of any public benefit programs you are currently taking advantage of and to determine what other programs they...
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 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...
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Any discussion of taxes herein is for general informational purposes only and does not purport to be complete or cover every situation. Independent Life, its affiliates, its distributors, and its and their respective representatives do not provide tax, accounting, or legal advice. You should confer with your qualified legal, tax and accounting advisors based on your particular circumstances. All guarantees are obligations of Independent Life Insurance Company.
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