STRUCTURED SETTLEMENT FAQ'S

Keith Kleinick is a licensed structured settlement broker who can assist people who are receiving compensation payments from a brain injury casued in New York City (NYC), Brooklyn, Bronx, Manhattan, and the surrounding areas.

Are structured settlements limited to cases involving physical injury or physical sickness?
Structured settlements are not limited to certain types of cases you can get a structured settlement for a non-physical injury structured settlement including: property damage, employment cases, wrongful mortgage foreclosure, punitive damages, disability claims, workers’ compensation, disability claims, LSHWA claims, or lottery prizes.

Do I get interest on structured settlements?
The interest is already part of the structured settlement from the beginning and is tax-free.

Can structured settlements save insurers money?
If structured settlements are properly negotiated, they should provide a financial incentive to both the defendant and plaintiff. For example if a case is recognized as being worth $1 million dollars in cash a great settlement for the defense would be if they could spend $925,000 and the structured settlement would provide the plaintiff with $1.1 Million. In this type of settlement the defendant pays less and the plaintiff receives more than then It would of got if the plaintiff accepted a lump sum.

Is it ever too late to do a structured settlement?
When the plaintiff has the unqualified right to receive the amount proposed for the structured settlement it is too late to negotiate a tax free structured settlement. If the defendant’s appeal from a lump sum judgment has been denied then no further appeals are possible.

Can I use a structured settlement as collateral for a loan?
Generally, no you can’t. Structural settlements are made to protect you from abuse, and being able to use a structured settlement as collateral for a loan would void that intended purpose.

What is a "substandard" case and what is its impact on the cost/benefit of the structured settlement package?
A catastrophic injury resulting in a shortened life expectancy for the claimant is a substandard case. Because of the reduced life expectancy there are fewer years of life annuity payments. This will provide additional benefits for the plaintiff and savings of premium for the defendant.

What is a Qualified Assignment?
Under Section 130 of the IRC the defendant or company could assign ownership of the funding assets (along with the liability to make future payments) to a “Qualified Assignee”. The defendant or companies are out of the case with the same result as a lump sum.