Should structured settlement and settlement planning professionals be required to act, or hold themselves accountable to act, in the “best interest” of a personal injury settlement recipient when making a structured settlement recommendation? And what would, or should, define “best interest” in that context? Best Interest Applied to Secondary Market Transfers “Best interest” is a...
Most members of the structured settlement primary market should be thankful for, if not celebrating, the majority decision in the Cordero v. Transamerica case decided by the State of New York Court of Appeals on April 25, 2023. The decision favoring Transamerica avoided what the National Structured Settlement Trade Association (NSSTA) had argued in its...
Introduction A single structured settlement often involves multiple areas of law – including tort, tax, contract, Social Security, insurance, to name just a few. Sometimes laws impacting a structured settlement not only overlap but also conflict thereby creating potential problems and/or confusion. For example, although structured settlement periodic payments generally are excluded from federal income...
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