Factoring a Structured Settlement
An alternative to commuting a structured settlement is to sell it on the open market. There are a number of companies, including J.G. Wentworth, which will purchase structured settlement annuities. The companies do not buy the structured settlement annuity itself, but rather buy the right to the income stream. These companies pay less than the…
Is a Medicare Set Aside Arrangement Required in Third Party Liability Cases?
Based on recent federal legislation, it appears that Medicare will soon begin to require set asides for third party liability cases. Historically, these set asides have been required only in Worker’s Comp cases, but it appears that that is all about to change. Under the Medicare Secondary Payer Act[1] and Regulations,[2] Medicare will not pay…
Reversionary Medical Care Trusts
Actions brought under the Federal Tort Claims Act often result in a Reversionary Medical Care Trust. It is the policy of the United States Attorney that whenever the recovery includes future medical care related to the negligence, a reversionary medical care trust must be established. Medical bills are paid from the trust and on the…
New Jersey Attorney General Speaks on Structured Settlements and Special Needs Trusts
Structured settlements have long been used in connection with special needs trusts for persons with disabilities who receive personal injury settlements. There are less often used in cases involving matrimonial settlements and in cases involving inheritances. A structured settlement is essentially an annuity that pays an injured plaintiff over time, rather than in a single…