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STRUCTURED SETTLEMENTS

WHAT IS A STRUCTURED SETTLEMENT? Most personal injury cases now involve a Structured Settlement.  NSSTA announced a record-breaking $8.523 billion industry milestone in 2023.[1] A Structured Settlement is an annuity that pays the injured plaintiff a series of periodic payments over time, rather than in a single lump sum.  The annuity is purchased by the…

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Qualified Settlement Funds – Begley Report

by Thomas D. Begley, Jr., CELA WHAT IS A QUALIFIED SETTLEMENT FUND? Section 468B of the Internal Revenue Code[1] authorizes the establishment of Designated Settlement Funds or Qualified Settlement Funds.  These funds are usually collectively referred to as Qualified Settlement Funds (QSFs).  These funds are also sometimes called 468B Trusts.  The purpose of these funds…

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OPTIONS FOR HANDLING FUNDS OF A PERSONAL INJURY PLAINTIFF WHO IS A MINOR CHILD OR AN INCAPACITATED ADULT

by Thomas D. Begley, Jr., Esquire, CELA and Emily M. Schurr, Esquire             If a personal injury plaintiff receives an award or a settlement but is a minor child or an incapacitated adult, there are essentially five choices for handling the funds.  These are:  (1) deposit the funds in a Trust with a corporate Trustee,…

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My Client Received A Personal Injury Settlement, He Is On Medicaid, Does He Need A Special Needs Trust? – Begley Report

by Thomas D. Begley, Jr., Esquire, CELA GENERAL An extremely important source of funding for medical needs for persons with disabilities is Medicaid.  When a person is receiving Medicaid, the first question is whether a Special Needs Trust (SNT) is required.  There are a number of pathways to Medicaid.  If the individual’s Medicaid is means-tested,…

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