Free Consultation
(123) 456 789
Free Consultation
(123) 456 789
Structured settlements are a proven way for an injured party to accept compensation in a physical injury case and allow the claimant to better secure their financial future. Structured settlements are a powerful tool designed to provide financial freedom from uncertainty.
This design of the structured settlement brings much needed innovation and forward-thinking financial strategies to the arena of structuring claimant settlements. The structured settlements can utilize insurance products allowing the claimant to place their proceeds in something other than a traditional structured settlement annuity or US Treasuries in order to attempt to realize a greater rate of return on their settlement. It provides the claimant the flexibility to allow the funds to be managed by their own personal financial advisor or by an established and reputable trust company that has been designated for the program.
To help protect your client’s settlement funds, a Settlement Preservation Trust can be established as an irrevocable grantor trust. The primary goal of a Settlement Preservation Trust is to protect the beneficiary’s settlement proceeds from wasteful dissipation while allowing for financial flexibility to accommodate changes in one’s financial future. Periodic distributions from a Settlement Preservation Trust cannot be encumbered or sold to a factoring company. Furthermore, Settlement Preservation Trust distributions can be adjusted in the case of unemployment or other financial reversals. Settlement funds are professionally managed and securities are held in an insured custodial account.
An Asset Protection Trust is an irrevocable grantor trust that provides for the grantor while protecting the trust’s assets from creditors. When properly constructed, a South Dakota chartered Asset Protection Trust can protect one’s assets from domestic claims as well.
This design of the structured settlement brings much needed innovation and forward-thinking financial strategies to the arena of structuring claimant settlements. The structured settlements can utilize insurance products allowing the claimant to place their proceeds in something other than a traditional structured settlement annuity or US Treasuries in order to attempt to realize a greater rate of return on their settlement. It provides the claimant the flexibility to allow the funds to be managed by their own personal financial advisor or by an established and reputable trust company that has been designated for the program.
The primary purpose of creating a Special Needs Trust (SNT) is to maintain the eligibility of the injured party to receive government benefits, specifically Medicaid. Establishing a SNT allows an injured party to receive a settlement without being disqualified from SSI or Medicaid. Federal and state laws allow proceeds from an injury lawsuit to be placed into an SNT without those proceeds being considered assets or countable resources for the purpose of qualifying for government benefits.