Are Attorney Fees Really Included in Gross Income?
If Einstein had difficulty understanding income tax, imagine how a claimant feels after having to pay tax on their attorney’s fees, of which they would never see a penny!
VIDEO: Why use a structured settlement?
Structured settlements are the best way to ensure a strong financial future for all parties involved. In this video we outline the many benefits.
Woman gets lifelong income post-injury: Structured settlements explained
After Jen was injured in a multi-vehicle accident, a structured settlement offered her almost double the lump sum offer. And her settlement was income-tax free.
Exercise after amputation: how consultants craft solutions
After a woman lost both legs in a car accident, Jeff Livingston got creative to address her main concern: staying healthy through exercise. This video tells their story.
Tax Cut and Jobs Act on Claims Settlements
The Tax Cut and Jobs Act of 2017 (the "Act") was signed into law by President Trump on December 22, 2017 and contains some of the most sweeping tax changes to the Internal Revenue Code seen in decades. While these changes have no direct impact on structured settlements or the taxation of most types of claims, there are a number of changes that have a significant impact on defendants and plaintiffs. Arcadia's John McCulloch explains.
Blending ABLE Accounts with Structured Settlements
How a structured settlement can fund a Special Needs Trust (“SNT”), which in turn would “pour over” or fund the ABLE Account, a tax-free savings account that can preserve needs-based government benefits eligibility.
Arcadia’s John Pinto to Discuss Creative Settlements at CCWC Conference
Arcadia Structured Settlement Consultant John Pinto will participate in a panel discussion on Medicare Set-Aside Accounts (MSAs) at the California Coalition on Workers' Compensation (CCWC) 2018 Annual Conference taking place July 11-13, 2018 at Disney's Grand Californian Hotel® & Spa.
Woodbridge Settles SEC Investment Scheme Lawsuit for $1.2 Billion
The U.S. Securities and Exchange Commission (SEC) has agreed to settle allegations against “a slew of unregistered Florida-based funds” called the Woodbridge Group of Cos. LLC, which the SEC claims were used in an alleged $1.2 billion scheme that duped over 8,400 investors.
Why Consider a Special Needs Trust
A Special Needs Trust, also called a Supplemental Needs Trust ("SNT"), ensures that a catastrophically injured person will have their long-term medical and subsistence needs provided for without sacrificing their basic support or depleting their funds. In this article, Arcadia's John McCulloch discusses Special Needs Trusts: their purpose, safeguards, and what they can provide compared to Medicaid and SSI.
Lump Sum or Structured MSA
As we approach the 17th anniversary of Workers' Compensation Medicare Set-Aside Arrangements, studies have shown that savings average about 34 percent when utilizing a Medicare Set-Aside (MSA) rather than the lump sum amount. What arises is a question as to why anyone would submit an MSA for approval by the Centers for Medicare & Medicaid Services (CMS) as a lump sum only.