The Internal Revenue Service (IRS) has published final regulations that provide guidance regarding programs under the Stephen Beck, Jr., Achieving a Better Life Experience (ABLE) Act of 2014.The ABLE Act added IRC Section 529A to the Internal Revenue Code which was enacted as part of the Tax Increase Prevention Act of 2014. Section 529A provides rules under which states or state...
A five star success! Awesome! Amazing! Blown away! These were some of the immediate reactions to the three-day National Structured Settlement Trade Association (NSSTA) virtual Fall Conference hosted last week from Los Angeles by NSSTA President Louis Masry and Executive Director Eric Vaughn. Beginning with videotaped welcoming vignettes from more than 20 geographically dispersed members, the NSSTA conference seamlessly integrated...
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...
Independent Insurance Group (IIG), an innovative insurer whose mission is to improve the lives of victims of serious injury and those who serve them, announced today that George Luecke has been hired as President & Chief Strategy Officer. His duties will include setting IIG’s strategic direction as well as overseeing initiatives to enhance IIG’s market presence and...
This episode of Settlement Nation we chat with with Megan Hottman, a powerhouse health and wellness advocate, cycling enthusiast, podcast host, and attorney out of Golden, Colorado. Megan shares her insights on running a successful practice while maintaining balance. We cover how she became “The Cyclist Lawyer“, tips to increase your personal energy levels and presentation in and out...
Although the personal injury settlement planning profession now offers plaintiff attorneys, and its own members, an increasing variety of educational resources, few guides to regulatory compliance currently exist – and those that do tend to be specialized. Robert Wood has authored definitive legal textbooks about “Taxation of Damage Awards and Settlement Payments” as well as “Qualified...
Catastrophic Injury A mother and her five-year-old son were in a car accident in 2018 and both suffered extensive injuries. The mother sustained multiple broken bones, including several ribs. The child was in critical condition with injuries that required him to be placed into a medically-induced coma. Ultimately the five-year-old needed multiple surgeries to correct...
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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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