Helping You In The Transfer of Structured Settlement Payments
Explained simply, when a person receives a settlement of time it is called a structured settlement, and even though you can not advance or loan against a structured settlement you may sell all or a portion of it. Once the structured settlement payments are sold they become what is known as a secondary market annuity.
The process involved in turning a structured settlement payment stream into a secondary market annuity requires a court approval. It also contains some complex math to calculate the current day value of future payments. This is probably one of the most crucial roles of a structured settlement attorney / independent professional advisor, to explain how this math works. Also to ensure that the purchase price is comparable to current market rates.
Some believe the structured settlement attorney / independent professional advisor is simply to make sure the best interest of the client is protected, but it goes much further than that; expatiation, comparison, and also to represent the payee in court.
When You Sell a Structured Settlement You Are Parting With a Source
of Future Income
You should take great care to ensure the buyer’s offer sufficiently replaces the funds from your settlement. Take your time before making a sale. Compare the offers of several companies. Comparing multiple offers is the best way to determine whether you are receiving a good offer.
Role of an IPA
One thing stands true, though, that the role of the independent professional advisor is to advise client(seller) of the exact nature of the transaction, make sure that the client understands the transaction, the transaction is in the best interest of the client, and that the client is getting a fair market value for their structured settlement payment.
There has been a trend in court, that the judges who hear these transactions will continue the case out in order for the seller to obtain independent professional advice. Which has become costly not only for the purchaser but also for the seller who may be in dire need of their money. He judges feel they can not rule in the best interest of the seller without an Independent professional advisor.
Contact an experienced Structured Settlement Attorney
Call the Law Offices of Eugene Ahtirski at or contact Mr. Ahtirski online to schedule your free Structured Settlement IPA consultation. email us @ [email protected]