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Transfers of Structured Settlement Payment

Transfers of Structured Settlement Payment Rights   Compliance to Contract Writing is the Responsibility of the Transfer Company   The California Insurance Code puts the onus on the transfer company to get all of the contracts right.  The Insurance Cod…

THE WORLD ECONOMY AND SELLING A STRUCTURED SETTLEMENT

Transfers of Structured Settlement Payment

Transfers of Structured Settlement Payment Rights   Compliance to Contract Writing is the Responsibility of the Transfer Company   The California Insurance Code puts the onus on the transfer company to get all of the contracts right.  The Insurance Code spells out the terms of the disclosure statement, and the transfer agreement in Sections 10136, 10137, and 10138 to the transfer company, and only the transfer company. The code below states that it is the sole responsibility of the transfer company to draft these and any other necessary contracts to “seal the deal” for a successful transfer of payment rights. […]

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Independent Professional Adviser Wins Higher Settlement Payments

Structured Settlement Transfer Approval

HARVEST HOME OR THANKSGIVING?

HARVEST HOME OR THANKSGIVING? In a letter from “E.W.” (Edward Winslow) to a friend in England, he says: “And God be praised, we had a good increase…. Our harvest being gotten in, our governor sent four men on fowling that so we might after a special manner rejoice together….” Winslow continues, “These things I thought good to let you understand… that you might on our behalf give God thanks who hath dealt so favourably with us.” In 1622, without his approval, Winslow’s letter was printed in a pamphlet that historians commonly call Mourt’s Relation. This published description of the First […]

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Structured Settlement Attorney

Structured Settlement Attorney As it pertains to the transfer of structured settlement transfers:Jurisdiction, Venue, and Forum:  What’s the Difference and Why it Matters In transfers of structured settlement law, if the payee is domiciled in California at the time the transfer agreement is signed, the forum or jurisdiction, and the controlling law will be in a court inside California. If the venue, (the place where the accident happened to the payee), was out of the state […]

Structured Settlement Payment Rights

Article 2.3 Transfers of Structured Settlement Payment Rights   Tax Liability to Whom?  Stepping into the Shoes of the Third Party Beneficiary   California Insurance Code says if your the person “stepping into the shoes of the third party beneficiary” (assignee),  you share the tax liability, if any, with the transfer company and you both are liable to the structured settlement obligor, and to the annuity issuer, if the transfer does not comply with California Insurance Code 10134-10139.5 OR if the transfer company and the assignee individually or both are noncompliant.   10139.3(d) states, “The transferee and any assignee shall […]

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Recovering Lost Settlement Paperwork

Recovering Lost Settlement Paperwork:  Learn how to find lost paperwork! According to the National Structured Settlement Trade Association (NSSTA), if you’ve lost your structured settlement paperwork:  not to worry! “Normally, if you have misplaced your paperwork, a copy can be obtained from a variety of sources.  Contact the company that is responsible for administering your payments, your attorney, the company that settled your case, or the broker that assisted you with the […]

Court appointed Guardians Ad Litem Are Not Independent Professional Advisors; 

From time to time we run across articles that we believe are well written, and not just for advertisement. When we do find such articles we like to share them with our readers. this is one of those articles we found, written by an attorney, and seems to be on the mark when it comes to talking about independent professional advice. Guardians Ad Litem Are Not Independent Professional Advisors The sale of a structured settlement to a factoring company will involve a court proceeding. I […]