Last week, the Federal Reserve increased interest rates by 0.75 percent--the third time this year. Another rate increase is expected. This means we’ll see mortgage and credit card rates move higher and stock market volatility continue. Not everything is bad news, however. There is a silver lining for personal injury claimants. Rising Rates. Ten-year bond
Personal injury cases have to be handled differently if an injured party qualifies for Medicare (must be 65 or older, on SSDI for 24 months or more or have end-stage renal failure) or will qualify for Medicare within two years. In these cases, a portion of a settlement must be set aside, separate from other
When someone suffers a minor physical injury and a settlement is reached, the settlement funds offer financial peace of mind until the injured individual can resume normal activities. When a catastrophic injury occurs – requiring medical and personal care – the settlement takes on a more vital role. Settlements must last a lifetime so that the injured individual receives medical treatment and can lead as normal a life as physically and emotionally possible. Each catastrophic-injury case is different, but there are similarities that are the basis for determining the type of structured settlement to create.
Trent Richardson had it all in 2012—third overall pick of the Cleveland Browns and a $20.5 million guaranteed contract. In four short years, he’s out of the NFL and leading a “humbling” life when it comes to his finances. Like many former NFL players who were suddenly flush with cash at the start of their careers, he soon found that friends, family and hangers-on sucked him dry.
When a child is injured, parents have much to think about. High on the list is the child’s financial needs during the initial recovery period and beyond for medical, rehabilitation and other experiences. If there is compensation for the injury, judges often require that the settlement be structured so the best interests of the minor
Successfully negotiating a monetary settlement in an on-the-job injury, discrimination, harassment, retaliation, wage and hour or other employment-related claim is the responsibility of all parties — both defense and plaintiff. If the litigation involves a physical injury, the settlement must insure that the injured worker can pay for day-to-day living expenses until able to return to work — or, when life-changing damages occur — to enable injured parties and their families to have enough funds to last a lifetime.
Structured settlements have helped injured individuals and their families obtain financial security even in the face of lifelong medical challenges. According to the National Structured Settlement Association, more than 25,000 such arrangements are drawn up every year.
Questions come up all the time about the eligibility requirements for Social Security and Medicaid benefits. The link below takes you to a Social Security Administration (SSA) webpage that lays out, in surprisingly clear terms, who is and who is not eligible.
Prudential recently shared videos of individuals who have experienced traumatic injury—either to themselves or to family members. They show how structured settlements made a difference in their lives. The videos were produced by Prudential with the help of the Structured Solutions Leadership Council
Attorneys often ask me, "When is the best time to bring in a structured settlement broker to a case?" The short answer is early.
