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.
We were recently engaged on a case by one of our plaintiff attorney clients. The case involved a young lady who was severely injured in an ATV accident when she was in high school. She is currently 19 years old. There was a facilitation in the case where she was presented with structured settlement proposals by the defendant insurer's structured settlement broker. These proposals only confused the young lady because they had nothing to do with her actual goals and financial needs. We met with her and her mother at their home and crafted a customized financial plan that included both structured settlement annuity and other investment vehicles to secure both her short and long term financial needs. We were very happy to be able to help this young lady and her family by taking some of the confusion and worry out of her future!
Perhaps given possible changes in federal enforcement of Title IX and the Clery Act under the Trump Administration we have been seeing a lot of activity in these types of cases. Title IX of the Education Amendments of 1972 protects people from discrimination based on sex in education programs or activities which receive federal financial assistance.
Many of these cases involve minors so the use of Structured Settlements is often discussed and used to settle these cases.
We find that even in the cases of sexual abuse cases that many attorneys are not aware that most of these cases are "non-qualified" type cases. This means that most of them do not qualify under Internal Revenue Code (IRC) 104(a)(2), which makes the interest accrued in structured settlements income tax free in the case of physical injury damages. If there were physical injuries as well then the entire structured settlement, including interest would be income tax free. However, this is a VERY gray area and mu…
Are You and Your Clients Compliant? Thismonth CMS publishedMatter#MM9893,datedFebruary3,2017with
NoFault MSAs (“NFMSA”). TheNoticestatesthatin
orderto complywiththeGovernmentAccountabilityOffice ("GAO") finalreporton theMedicareSecondaryPayer(“MSP”)Programtoimpr