With structured settlements, timing is everything. Wait until a settlement agreement is signed, and the opportunity is off the table. Here’s a simple structured settlement timeline. Settlement Negotiations: During settlement negotiations, plaintiff and defendant attorneys estimate such costs as the injured party’s ongoing medical care and living and family needs (i.e., possible future medical treatment,
Medicare Set-Aside accounts (MSAs) have to pay medical expenses first and be depleted before Medicare pays for any expenses. Injured parties have choices, manage complicated MSA account compliance themselves or hire someone. The “Self-Administration Toolkit for Workers’ Compensation MSA Arrangements” alone, is 31 pages long. Improperly follow procedures and Medicare may deny coverage. The second choice —professionally managed MSA accounts.
This week, the Federal Reserve decided not to raise short-term interest rates, but forecasters are expecting the Fed to boost rates two more times this year after already raising rates by 0.25 percent in December (only the second rate increase in a decade). Plaintiffs considering a structured settlement may be concerned they may miss out
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.
Details are important when it comes to structured settlements. So is timing. Counting down, here is the top 10 list of things to remember when creating a structure – for your client or for your legal fees.
Reading and reviewing sample annuity documents can be helpful in understanding the annuity payment process so when the time comes to discuss annuity options the injured party is more confident with the decisions made.
Sometimes, life throws us curveballs that we can never expect or prepare for. Such was the case for Russ, one of my clients. Russ’ wife was in a terrible auto accident in 1996 and it turned their world upside down. This is a story about how a structured settlement helped him get through his family’s nightmare.
Structures are used in a variety of injury cases. The most common involve wrongful death, (especially if a surviving spouse or children need income), temporary or permanent disability and severe injuries with shortened life expectancy.
