Alabama Wrongful Death Settlements
Where Punitive Damages are Tax-Exempt A tax exemption is applicable to damages on account of personal physical injury or physical sickness, wrongful death or workers compensation IRC 104 (a) states that “In general Except in the case of amounts attributable to (and not in excess of) deductions allowed under section 213 (relating to medical, etc., expenses) […]
Settlement With Client Dual Eligible for Medicaid and Medicare
Understand Countable or You Could be Held Accountable We are receiving a number of calls from individuals who received workers compensation settlements who were dually eligible, but there was a failure to recognize this in settling the workers compensation claim, possibly putting other public benefits in jeopardy. Whether you are a plaintiff’s personal injury lawyer […]
Proof of Living and Structured Settlements
Why and When is Proof of Living Required? What is Proof of Living with a Structured Settlement Annuity? Proof of Living is a common requirement in order to receive life contingent structured settlement payments where the payee and/or guardian is a foreign national. If you have a structured settlement with a long period certain period, […]
Words You Don’t Want to Hear After You Settle
“It’s too Late to do a Structured Settlement” If you’re in constructive receipt you’ve missed the structured settlement train Constructive receipt is a tax doctrine which ends the opportunity to do a structured settlement, despite the fact that the Structured Settlement Funding Amount has not been physically received.
What is a Deferred Income Annuity?
Why Buy a Deferred Income Annuity? A Deferred Income Annuity helps to address longevity risk over a fixed period or the lifetimes of one or more individuals. A DIA is sometimes known as a guaranteed future income annuity, or secured future income annuity. How Does a Deferred Income Annuity Work? You can buy a deferred […]
Slide Language in Structured Settlement Agreements
If Pre-Fund of Structured Settlement is Not Possible What is Slide Language in a Settlement Agreement and Release? Slide language is language inserted into a structured settlement agreement that helps facilitate the placement of a structured settlement where the defendant or insurer will not pre-fund and factors such as the need for Court approval make […]
Professional MSA Administration v Do It Yourself
Professional Medicare Set Aside administration so cheap it’s nuts to do it yourself So you want to self-administer your own Medicare Set Aside eh? What is a Medicare Set Aside account? A Medicare Set – Aside Arrangement (MSA) is an allocation of a portion of a workers’ compensation, liability, or no-fault settlement, to pay for future […]
Market Based Attorney Fee Deferrals
Unlimited Deferral You Can Layer onto Fixed Structured Attorney Fee Income There is NO LIMIT to Attorney Fee Deferral like Attorney and Law Firms Face With Traditional Qualified Plans Contingency fee lawyers have the ability to defer fees in much larger amounts and without the administrative costs and headaches of qualified pension plans. Fixed and […]
Wrongful Life Damages
New IRS Private Ruling Says Wrongful Life Settlement Income Tax Free Wrongful Life Claims Are Brought to Address Strangling Medical Costs and Pain and Suffering A recent IRS Private Letter Ruling 201950004 suggests relief is available in wrongful life cases. What is a Wrongful Life Lawsuit? Wrongful life action is a lawsuit brought by or […]
Independent Life Structured Settlements
Structured settlement annuity only insurance company defies skeptics Independent Life Insurance Company has an NAIC Category 1 Issuer Credit Rating Independent Life Insurance Company, an insurance company which exclusively issues structured settlement annuities, has only been underwriting since May 2018. It’s a bit over a year in and I thought I’d see how they are […]