Info and Resourceswordpress2020-03-20T10:46:00-06:00
Importance of a Needs-Based SettlementInfo and Resources
Looking for more information and resources about structured settlements and related services? You’ve come to the right place. Here you will find legal resources, tax codes, valuable tools from the Centers for Medicare and Medicaid Services, CMS, and resources from organizations such as NSSTA.
In April 2017, the U.S. Consumer Financial Protection Bureau (CFPB) issued a warning to anyone considering “cashing out” their structured settlement or who has been solicited to do so. Please refer to this important information before making any decision: CFPB Warning on Giving Up a Structured Settlement.
IRS Revenue Procedure 93-94 (Allows physically injured individuals receiving settlements from mass tort claims (468(B)) to structure their settlements, and allows the fund to assign its obligation to a third party)
IRS Wrongful Life Ruling PLR 201950004 (Provides clarity that wrongful life settlements are income tax free. Tax-free status means that more money remains available for children’s future care)