POST-SETTLEMENT OPTIONS WITH RESPECT TO A PERSONAL INJURY SETTLEMENT FOR A MINOR OR INCAPACITATED PERSON
Essentially, there are four options with respect to the treatment of settlement funds obtained on behalf of a minor or incapacitated person. Deposit with Court. In New Jersey, funds could be deposited in the Surrogate’s Court. There are virtually no advantages to this option, but several disadvantages. The disadvantages include: Generally, each time money is…
THE IMPACT OF THE AFFORDABLE CARE ACT ON PERSONAL INJURY SETTLEMENTS
Purposes of the Act On March 30, 2010, President Obama signed The Patient Protection and Affordable Care Act[1] as amended by The Health Care and Education Reconciliation Act of 2010.[2] These two statutes are commonly referred to as the Affordable Care Act (ACA). The two most important legislative purposes are:[3] To increase the number of…
SOME THOUGHTS ON INTEREST RATES, TAXES AND STRUCTURED SETTLEMENTS: ANALYZING WHAT IS BEST FOR THE CLIENT
Since The Great Recession, the Federal Reserve has reduced interest rates and kept them low as a means of stimulating the national economy. Most economists believe that this strategy is effective in achieving its goal. However, one casualty is the structured settlement industry. Since 2008, sales of structured settlements have declined by 22%. The problem…