White House Financial & Settlement Consulting, LLC helps families live an easier and less stressful life through the achievement of their financial goals by providing comprehensive, fee-only, client focused financial advice and exceptional service.
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On July 18 the city of Detroit filed for Chapter 9 bankruptcy protection, making it the largest municipal bankruptcy case in U.S. history.
We have been following this historic event with our strategic partners and have highlighted some of the key opinions and research pertaining to the city's filing in video format. We hope you find it informative.
This week I was contacted by the father of a young man,
let’s call the young man Joe who is age 20.
Joe had suffered a traumatic brain injury as the result of an auto
accident and had received a settlement of $50,000. Joe’s father was concerned because Joe had
already blown through half his settlement in a month due to his discovery of
cocaine, which some new “friends” he was spending a lot of time with introduced
Joe’s father had heard of something called a Structured
Settlement, which he thought may help preserve the remainder of Joe’s
settlement from being squandered. Structured
Settlements are a financial vehicle which have been around since the 1980’s that
facilitate receiving a legal settlement with interest income tax free over time
and can sometimes have benefits over receiving the settlement all at once in a
lump sum, as in this case.
Joe’s father contacted me because my firm, White House
Settlement Consulting that I founded in 2001, has been helping injury victi…