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Structured Settlements Information |
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Unstructured Settlement
Me'Lisa Delaney, 43, is brain-injured as a result of a 1984 medical error that caused a stroke during surgery. The hospital agreed to settle via a structured settlement, as overseen by a county conservatorship. Delaney soon married Terry, who took over the conservatorship of the settlement and proceeded to make loans against the settlement, which equaled about $350,000. It wasn't long before all the money was gone. According to the civil complaint filed by Me'Lisa, Terry had used the loan money to purchase "controlled substances, illegal drugs, jewelry, liquor and other non-business items." Of course Delaney is suing for 10 million in punitive damages. A lot of time energy, and effort was put into structuring a settlement in the best interest of Me'Lisa and it was too easily undone. Should we consider making settlements "unstructurable"? There is some concern that "factoring" or "cash out" companies take advantage of customers, taking a large portion of the settlement in exchange for a significantly smaller lump sum. In Me'Lisa's case it makes sense to put in place more safeguards to protect her rights and interests in her settlement, specifically because she is brain injured. We should look to protect minors, senior citizens, and mentally impaired or injured settlement winners. Everyone else has access to resources and information to help them make the best choices and should be entitled to choose whatever they wish. I personally know of cases where cashing out was life saving, dream fulfilling, and absolutely a positive choice. I am also personally aware of situations where customers have cashed out their settlements and it was absolutely a bad decision. Unstructuring a settlement seems to be a great American Freedom, but it doesn't have to be as morally insipid as what happened in the Delaney case. Jason Rigler
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RELATED ARTICLES
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I am more interested in the little frivolous lawsuits that award pitiful amounts to offended parties who most likely had no idea they were offended. Lucky Have you ever looked around and wondered how everyone is buying houses? Are they really doing that much better than you are? Maybe. Maybe not. Offshore Asset Protection Trusts for US Citizens When it comes to discussing offshore anything and US citizens - from offshore trusts to investments, from offshore banking to company incorporation - it's important to note the following facts: -- US citizens are taxed on their worldwide income. This includes income from interest, dividends and gains whether onshore or offshore. Structured Settlements Are Like Ants Ants are powerful creatures. The powerful ant legs are able to lift 20 times their body weight, and run the equivalent of a man running as fast as a racehorse. 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Here are 3 reasons it might not be in your best interest; it's too soon, you don't have a good enough reason, it will cost you too much. The Cash Now Question If you have ever been in a bind for cash you know the stress, the weight of not being able to pay your bills. In these desperate times, desperate measures are often taken. If This Describes You, Dont Cash out Your Annuity There are companies that purchase future payments. Personal injury settlements are often structured to pay out over time. The Cost of Not Having Money The self-esteem factor of not having enough money is underestimated. You know what I mean don't you? The agony of financially struggling and the ecstasy of financial abundance are dramatically different moments in a person's life. Should You Sell Your Structured Settlement? The courts have just awarded you a settlement in the amount of $1.3 million dollars for injuries you sustained while using the Widget Corporation's product. 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Cash For Structured Settlements - The Smart Way For most people when they buy a house it is considered their life's largest deal. In some cases of structured settlements the compensation and financial considerations for a persons life duration and the total present value of the settlement can reach few millions of dollars. Unstructured Settlement Me'Lisa Delaney, 43, is brain-injured as a result of a 1984 medical error that caused a stroke during surgery. The hospital agreed to settle via a structured settlement, as overseen by a county conservatorship.
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