The Minneapolis Star Tribune analyzed data on cases where structured settlement recipients sold future settlement payments to factoring companies. The paper looked at more than 1,200 sales from 2000 to October 2021 (when the findings were published). Here’s what it uncovered: Fewer than 20 people received cash equal to at least 80% of their settlement’s
Suze Orman, a long-time investment pundit, is sounding the alarm that many Americans are one emergency away from a financial crisis. In fact, a Federal Reserve survey noted that a $400 unexpected expense would cause financial hardship for 32 percent of American families. Coupled with today’s rising inflation, a large unexpected expense can be devastating.
Special Needs Trusts (SNTs) are often set up to protect an injured party’s SSI and Medicaid payments. Settlement assets placed in an SNT are not counted when determining government assistance eligibility. The eligibility rules are different, however, for HUD Section 8 housing assistance. Unlike SSI and Medicaid criteria, qualifying to receive assistance with rent payments
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
California judges are becoming much stricter when it comes to how settlement funds are held and distributed in cases involving minors and incapacitated adults. Will Lindahl, executive director at CPT Institute and myself had the opportunity to write about the issue in the November/December issue of CAOC's Forum magazine.The article talks about three trust options
Most of us think the availability of a tax-free settlement option for injured parties began in the early 1980s. In fact, its roots go back to the Income Act of 1918. At that time, Congress stated that income resulting from "personal injury or illness" was exempt from taxation. 1979: Fast forward to 1979 when the
For injured parties, choosing how to accept their settlement proceeds can be one of the biggest decisions of their lives. Unscrupulous friends and relatives ask for "loans" that will never be repaid. The claimant may decide that now is the perfect time to start dabbling in the stock market, go on a spending spree or
Today's volatile economic environment raises questions by personal injury and workers' comp claimants considering whether to structure their settlement. Should they place their funds in a structured annuity? Or should they take the money in a lump sum and hope to do better in the investment markets? I had the opportunity to prepare an article
As we finally close the books on 2020, we can look back on a year filled with illness and economic crisis. Unfortunately, much of the same will be in the forecast for 2021. For those experiencing a personal injury during these uncertain times, financial security is a top priority. Structured Settlements In Today's Environment. One
Prudential is one of the country's largest life insurance companies providing structured settlement annuities to physical injury claimants and their families. It has just come out with a simple, short video that explains how structured settlements work. Created specifically for personal injury clients and family members, the video is less than 2 minutes long but
