This seminar will provide guidance and insight for attorneys and their staff who litigate all types of cases. The panel will provide basic examples of structured settlements and their legal foundations. They will walk through the process of a typical transfer and offer different perspectives.
- A typical transfer - walking through the process
- Why sell? Customer's perspective
- Continuing to serve your client
- Death, divorce, debt (bankruptcy)
- Interested parties
9:00 a.m. - 10:30 a.m.
I. Preliminary Issues: The Basics Of
A. What Is A Structured Settlement?
1. Settlement Agreement
2. Qualified Assignment
3. Annuity Policy
B. When Is It Appropriate And When Should You Pass?
C. Negotiating The Structured Settlement
1. Anti-Assignment Language
2. Back Loading And The Time Value Of Money
D. What Can Be Structured?
1. Personal Injury Damages
2. How About Non-Personal Injury Damages?
3. Can Attorneys' Fees Be Structured, And Why Would You?
E. Tax Issues In Structured Settlements
1. For The Plaintiff
2. For The Insurance Companies
3. For Attorneys Who Structure Their Fees
10:30 a.m. - 10:45 a.m.
10:45 a.m. - 11:00 a.m.
II. Structured Settlement Transfers
A. IRC §5891
B. State Acts
11:00 a.m. - 11:45 a.m.
III. A Typical Transfer Walking
Through The Process
A. Pre-Contract The Negotiation (Discount Rates)
B. The Contract
C. Split Payments Servicing
F. Court Approval
1. Outside Counsel Role
2. Judge's Role
3. Best Interest
11:45 a.m. - 12:45 p.m.
Lunch (On Your Own)
12:45 p.m. - 1:15 p.m.
IV. Why Sell? Customer's Perspective
A. Reasons For Selling
B. Best Interest
C. Tax Implications
D. As Part Of An Overall Financial Plan
1:15 p.m. - 2:15 p.m.
V. Continuing To Serve Your Client
A. Advising A 'Former' Client Regarding Transfer Options
B. Evaluating A Prospective Transfer For A Client
C. Ethical Considerations
1. Should You Tell Them About This?
2. How Did You Negotiate The Structured Settlement?
3. Can You Get A Referral Fee For Sending Them To A Purchaser?
4. Can You Obtain A Court Order For The Transfer?
2:15 p.m. - 2:30 p.m.
2:30 p.m. - 3:30 p.m.
VI. Death, Divorce, Debt (Bankruptcy)
A. Death Of The Annuitant
B. Divorce (Post-Settlement)
C. Debt Bankruptcy
1. Pre-Contract Selling The Asset In Bankruptcy
2. Post-Sale Bankruptcy Issues
3:30 p.m. - 4:30 p.m.
VII. Interested Parties
A. Insurance Company
1. Right To Object But Why Would They?
b. Double Liability Concerns
2. Typical Objections How They Are Overcome
B. Irrevocable Beneficiaries
C. 'Other Parties With An Interest In The Payments'
1. Prior Transactions Court Order And Non-Court Order
2. Security Interests