Directory:Structured Settlements - Revision history

Garrett at 19:21, 5 May 2007

2007-05-05T19:21:58Z

Garrett at 01:47, 1 May 2007

2007-05-01T01:47:45Z

Garrett at 01:45, 1 May 2007

2007-05-01T01:45:13Z

Garrett at 21:25, 28 April 2007

2007-04-28T21:25:22Z

Garrett at 01:16, 27 April 2007

2007-04-27T01:16:40Z

Garrett at 02:04, 10 April 2007

2007-04-10T02:04:32Z

Garrett at 20:20, 14 March 2007

2007-03-14T20:20:30Z

Garrett at 20:19, 14 March 2007

2007-03-14T20:19:43Z

Garrett at 20:18, 14 March 2007

2007-03-14T20:18:41Z

Garrett at 22:17, 12 March 2007

2007-03-12T22:17:20Z

@@ Line 42: / Line 42: @@
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@@ Line 79: / Line 79: @@
 In an assigned case, the property/casualty company does not wish to retain the long-term periodic payment obligation on its books.  Accordingly, the property/casualty insurer transfers the obligation, through a legal device called a qualified assignment, to a third party.  The third party, called an assignment company, will require the property/casualty company to pay it an amount sufficient to enable it to buy an annuity that will fund its newly accepted periodic payment obligation.  If the claimant consents to the transfer of the periodic payment obligation (either in the settlement agreement or, failing that, in a special form of qualified assignment known as a qualified assignment and release), the defendant and/or its property/casualty company has no further liability to make the periodic payments.  This method of substituting the obliger is desirable for property/casualty companies that do not want to retain the periodic payment obligation on their books.  Typically, an assignment company is an affiliate of the life insurance company from which the annuity is purchased.
-An assignment is said to be "qualified" if it satisfies the criteria set forth in Internal Revenue Code Section 130 [http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000130----000-.html].  Qualification of the assignment is important to assignment companies because without it the amount they receive to induce them to accept periodic payment obligations would be considered income for federal income tax purposes.  If an assignment qualifies under Section 130, however, the amount received is excluded from the income of the assignment company.  This provision of the tax code was enacted to encourage assigned cases; without it, assignment companies would owe federal income taxes but would typically have no source from which to make the payments.
+An assignment is said to be "qualified" if it satisfies the criteria set forth in Internal Revenue Code Section 130.  Qualification of the assignment is important to assignment companies because without it the amount they receive to induce them to accept periodic payment obligations would be considered income for federal income tax purposes.  If an assignment qualifies under Section 130, however, the amount received is excluded from the income of the assignment company.  This provision of the tax code was enacted to encourage assigned cases; without it, assignment companies would owe federal income taxes but would typically have no source from which to make the payments.
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@@ Line 7: / Line 7: @@
 {{Infobox_Company Share
 |  company_name   = [[Company_Name:=Structured Settlements]]
-|  company_logo   =
+|  company_logo   = [[Image:Structured settlements.jpg|200px]]
 |  company_slogan = ''The Structured Settlements Resource''
 |  company_type   = [[Company_Type:=Private|[[Private Company|Private]]]]
@@ Line 34: / Line 34: @@
 '''[[keyword:=Selling Structured Settlements|Structured Settlements]] [[keyword:=Cash For Structured Settlements|is]] [[keyword:=Structured Settlements|the]] [[keyword:=Structured Settlements Help|definitive]] listing on the internet for all of your settlement related needs. We strive to provide the best information and services possible so you can get the most your settlement. Our service works in conjunction with [[Directory:Lawyer Central|Lawyer Central]] to maximize information and service coverage.'''
 |}
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@@ Line 53: / Line 52: @@
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 </center>
 |}
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 | width="55%" valign="top" style="padding: 0; margin:0;" |
 <div style="float:right; width:100%">
 ==What is a Structured Settlement?==
 A Structure Settlement is a financial or insurance arrangement, including periodic payments, that a claimant accepts to resolve a personal injury tort claim or to compromise a statutory periodic payment obligation. Structured settlements were first utilized in Canada and the United States during the 1970s as an alternative to lump sum settlements. Structured settlements may include income tax and spendthrift requirements as well as benefits. Structured settlement payments are sometimes called “periodic payments”. A structured settlement incorporated into a trial judgment is called a “periodic payment judgment”.
@@ Line 75: / Line 67: @@
 ** Is a party to the suit or agreement or to a workers' compensation claim; or
 ** By a person who has assumed the liability for such periodic payments under a Qualified Assignment in accordance with Internal Revenue Code Section 130.
+|}
 ==Complicated Legal Structure==
@@ Line 86: / Line 81: @@
 An assignment is said to be "qualified" if it satisfies the criteria set forth in Internal Revenue Code Section 130 [http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000130----000-.html].  Qualification of the assignment is important to assignment companies because without it the amount they receive to induce them to accept periodic payment obligations would be considered income for federal income tax purposes.  If an assignment qualifies under Section 130, however, the amount received is excluded from the income of the assignment company.  This provision of the tax code was enacted to encourage assigned cases; without it, assignment companies would owe federal income taxes but would typically have no source from which to make the payments.
 |}
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 [[Category:Houston Area Business]]

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 | width="55%" valign="top" style="padding: 0; margin:0;" |
 <div style="float:right; width:100%">
-{{Infobox_Company
+{| align=right
 |  company_name   = [[Company_Name:=Structured Settlements]]
 |  company_logo   =
@@ Line 25: / Line 28: @@
   footnotes =
 }}
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 <div style="float:right; width:100%">
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 |}
 <br>
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 <div style="float:right; width:100%">
@@ Line 50: / Line 53: @@
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 <br>
 <br>
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@@ Line 1: / Line 1: @@
 {{Infobox_Company
 |  company_name   = [[Company_Name:=Structured Settlements]]
@@ Line 22: / Line 25: @@
   footnotes =
 }}
+{{sharethiswide}}
-'''[[keyword:=Selling Structured Settlements|Structured Settlements]]''' [[keyword:=Cash For Structured Settlements|is]] [[keyword:=Structured Settlements|the]] [[keyword:=Structured Settlements Help|definitive]] listing on the internet for all of your structured settlements needs. If you would like to advertise with ''Structured Settlements'' and <adsense>
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+'''[[keyword:=Selling Structured Settlements|Structured Settlements]] [[keyword:=Cash For Structured Settlements|is]] [[keyword:=Structured Settlements|the]] [[keyword:=Structured Settlements Help|definitive]] listing on the internet for all of your settlement related needs. We strive to provide the best information and services possible so you can get the most your settlement. Our service works in conjunction with [[Directory:Lawyer Central|Lawyer Central]] to maximize information and service coverage.'''
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 ==Sponsored Resources==
 <center>
@@ Line 46: / Line 50: @@
 </embed>
 </center>
+|}
 ==What is a Structured Settlement?==
 A Structure Settlement is a financial or insurance arrangement, including periodic payments, that a claimant accepts to resolve a personal injury tort claim or to compromise a statutory periodic payment obligation. Structured settlements were first utilized in Canada and the United States during the 1970s as an alternative to lump sum settlements. Structured settlements may include income tax and spendthrift requirements as well as benefits. Structured settlement payments are sometimes called “periodic payments”. A structured settlement incorporated into a trial judgment is called a “periodic payment judgment”.
@@ Line 68: / Line 80: @@
 An assignment is said to be "qualified" if it satisfies the criteria set forth in Internal Revenue Code Section 130 [http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000130----000-.html].  Qualification of the assignment is important to assignment companies because without it the amount they receive to induce them to accept periodic payment obligations would be considered income for federal income tax purposes.  If an assignment qualifies under Section 130, however, the amount received is excluded from the income of the assignment company.  This provision of the tax code was enacted to encourage assigned cases; without it, assignment companies would owe federal income taxes but would typically have no source from which to make the payments.
 [[Category:Houston Area Business]]

@@ Line 62: / Line 62: @@
 ** By a person who has assumed the liability for such periodic payments under a Qualified Assignment in accordance with Internal Revenue Code Section 130.
-===Complicated Legal Structure===
+==Complicated Legal Structure==
 The typical structured settlement arises and is structured as follows:  An injured party (the claimant) settles a tort suit with the defendant (or its insurance carrier) pursuant to a settlement agreement that provides that, in exchange for the claimant's securing the dismissal of the lawsuit, the defendant (or, more commonly, its insurer) agrees to make a series of periodic payments over time.  The insurer, a property/casualty insurance company, thus finds itself with a long-term payment obligation to the claimant.  To fund this obligation, the property/casualty insurer generally takes one of two typical approaches:  It either purchases an annuity from a life insurance company (an arrangement called a "buy and hold" case) or it assigns (or, more properly, delegates) its periodic payment obligation to a third party which in turn purchases an annuity (which arrangement is called an "assigned case").