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Re: anyone heard of structured settlements?
Posted by John Schenk of TX on 7/22/11 7:28pm Msg #390748
Structured settlements don't necessarily have to be court approved. Quite a few cases are settled with structured settlements, unless there is a minor involved. They're done for MANY reasons, some of which are to protect the person receiving the structure payments from just going out and blowing all their money at the time of settlement (normal), or for medical funds to be available in a very well-planned structure, or sometimes they structured payments go into a Special Needs or Supplemental Needs Trust, which is done to protect claimants right to benefits under Social Security and/or Medicare/Medicaid. The latter type of structured settlement is normally in a pretty catastrophic injury to give the claimant a right to funds for things not covered by Social Security or Medicare/Medicaid. In fact, I'm doing one of those right now.

Selling off a structured settlement happens sometimes. They get sold off for pennies on the dollar, and I've closed quite a few of those. In my experience that's normally a result of someone coming into the picture that screws the structured settlement beneficiary i.e. a boyfriend/girlfriend, or some other leach. Sometimes those are inherited when the beneficiary of the structure dies and the money goes to the estate.

There are MANY other variances, and far more than I'd want to address, but YES, I have done those closings before where folks assigned their rights to structured settlement proceeds. Never had a problem with it if it's an inheritance and not the beneficiary. Never have done one for a beneficiary themself, but as a notary I probably would. Somebody's gonna do it, and the beneficiary IS gonna do it, once they've made that choice.

Not legal advice...just what I've seen and done, yada, yada.

JJ
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Messages in this Thread
 anyone heard of structured settlements? -  garland/CA on 7/22/11 6:27pm
 meant to say: it's a way to receive lump sum amount n/m -  garland/CA on 7/22/11 6:28pm
 Check out the comment in S/C for J. G. Wentworth & Co. n/m -  Notarysigner on 7/22/11 6:39pm
 this is through a different SS n/m -  garland/CA on 7/22/11 6:47pm
 Re: this is through a different SS -  Notarysigner on 7/22/11 7:06pm
 Re: anyone heard of structured settlements? -  LKT/CA on 7/22/11 7:05pm
 Re: anyone heard of structured settlements? - John Schenk on 7/22/11 7:28pm
 Re: anyone heard of structured settlements? -  LKT/CA on 7/22/11 7:33pm
 I should have said - John Schenk on 7/22/11 10:36pm
 Re: anyone heard of structured settlements? - Linda Juenger on 7/22/11 7:34pm
 Re: anyone heard of structured settlements? -  ikando on 7/23/11 8:58pm
 Re: anyone heard of structured settlements? - topflyt on 7/22/11 11:54pm
 thank you everyone for your informative responses -  garland/CA on 7/23/11 12:33am
 Re: anyone heard of structured settlements? -  MW/VA on 7/23/11 8:26am
 I'm baffled. How in the world, in 8 years of doing -  Linda_H/FL on 7/23/11 8:35am
 My experience has been same as Linda's n/m - CopperheadVA on 7/23/11 9:13am
 there is always something new... -  garland/CA on 7/23/11 9:45am
 Re: there is always something new... -  Linda_H/FL on 7/23/11 10:05am
 Re: there is always something new... -  LKT/CA on 7/23/11 2:43pm
 Re: there is always something new... -  ikando on 7/23/11 9:03pm



 
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