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A structured settlement annuity is often the alternative to lump sum settlements when resolving cases out of court. This involves an agreement for a predetermined amount of cash to be paid out to one party for a fixed length of time. These payments are also known as periodic payments.
Also known as periodic payments, these could be made for the duration of the life of the claimant. The payment can be in the form of equal installments or installments of varying amounts. Because these are long-term payments, it is important to get an assurance of the credentials of the annuity provider to ensure that it is capable of meeting the terms of the settlement.
The claimant’s monthly expenses, present age, extent of hazard in occupation and retirement plans are considered in determining the start date, duration and frequency of the payment. In some cases, the insurance company making the payment is allowed to transfer its obligation to a third party. All these should be specified in the settlement agreement.
Some of the issues involving the structured settlement annuity include payments losing their value over time due to inflation and the recipient’s financial situation changing. It is also possible that there will come a time when the recipient will need more money than he is receiving from the settlement. However, the structure of payments should not be altered once both parties have agreed on it, not if the payments are to remain tax-free.
These are some of the reasons why people sell structure settlement payments. They have the option to sell in part or in whole, but either way, the lump sum they will receive makes them more financially flexible. They can use it as capital for a business venture or make real estate purchases.
There are many institutions that buy structured settlements, with transactions running in the tens of thousands up to millions of dollars. In choosing a settlement purchaser, it is important to look into the past payment records and working relationships with insurance companies. A consistently good payment record and working relationship with various insurance companies means a good chance of the transaction being approved quickly.
Purchasers should also be licensed, insured and bonded. This is to protect clients and ensure that they get their cash if the purchaser goes out of business. It is also advisable to take advantage of the free consultations offered by settlement purchasers, not only to assess a prospect, but to get different opinions on whether selling the settlement is the best option and if there are other options as well.
As with any major decision-making, it is essential to look into all possible options and weigh the pros and cons. For instance, a structured settlement annuity is beneficial for retirees or people with low earning ability, giving them a regular income without having to worry about managing it. People who sell structured settlement payments have more flexibility in terms of investment options since they have control of their own finances. However, this option makes sense only if they can manage their investment portfolio effectively.
If you have a structured settlement annuity, you might not be able to use the money when you need it. This is why you might want to sell structured settlement, so you can benefit right away.
Structured Settlement Review
If a person meets up with an accident suddenly, he/she can be assured of attaining the amount for the loss in his/her claim. It depends totally on the person who is hurt and has claimed a remuneration, to decide the manner in which he/she would like to spend or save the remunerated amount received by him/her in the claim. The claimant can either go for saving up the remunerated amount for future use or employ the remunerated amount in use for some essential work that’s pending.
Structured settlement payment agreements were the agreements that were carried out in a mutual consent manner between the claimant and the other party. Structured settlement payment agreement involved the remuneration of claimed amount at regular intervals of time. This system of transfer of claimed amount saves the claimant from the burdens that are usually associated with the transfer of bulk amounts. Structured settlement can be looked upon as a mortgage procedure wherein you receive the remuneration.
You can understand the meaning of Structured settlement payment plan if you read carefully every word of this phrase. The word ’structure’ in the phrase ‘Structured settlement payment plan’ means the structure of the schedule designed by both the parties with mutual consent for the transfer of funds. The term ’settlement’ in the phrase means that both parties in an agreeable manner decide the final amount of remuneration money. The word ‘payment’ in an obvious way is indicative of the agreeable mode of payment.
Settlements are usually agreed upon in private without the courts being involved, and this is better for the party that caused harm, while at the same time better for the victim, because they have the advantage of taking the defendant to court if they are not able to reach a solution through a private structured settlement. When agreed upon in court, settlement plans are enforced by a court order issued by the judge, and the consequences of failing to follow the order can lead to heavier consequences than those of failing to follow a private contract. For this reason, a victim/plaintiff may choose to settle in court even if the defendant is ready to offer a very lucrative deal. After all, the damaging party is more likely to follow something when there are large consequences if they do not. This doesn’t mean that private agreements are not followed, but that court orders are more heavily enforced.
Both parties should be aware of the proper structuring of payments. The agreement is usually made in the victim/defendant’s favour. The payments are tax free for the victim/defendant, and can help the victim avoid loss of public benefits, as would have been the case if the amount was so much that it would cause so. All these financial implications should be fully understood before negotiating any settlement.
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Structured Settlements
A giant portion of those who receive a structured settlement can benefit from selling it for an one-off sum payment. The situations listed in this section represent possible circumstances of people that may get the most rewards from selling their structured settlement.
If you can’t wait to get little, spread-out payments over a substantial period of time because of a dire monetary situation or hefty medical bills and / or barrister fees. Many of the circumstances that may bring about a structured settlement can also stick the individual with such duties.
If you and your folks decide that this is the time to eventually make that large purchase that you have had your eye on. As an example, if you have previously been denied mortgages or loans and would like to seize this opportunity to buy that dream home you’ve always wanted. Or if you have a child or children who are preparing to go off to college and you fear you may not have the money means to support that dream otherwise.
Structured settlements were introduced in Canada and the U. S. in the 1970’s. They were introduced as a substitute for lump sum payments, commonly found in insurance settlements and lottery loot. In the decades since, they have also been accepted as legal fiscal instruments in England and Australia. The already mentioned common law nations have decided to include structured settlements in their official tort laws. These 4 countries handle tort law and the settlement packages a tiny bit differently, but the general overall definition applies across the board. In a nutshell, a structured settlement by legal definition is a statutory agreement to pay a cited sum of cash over a time period, on a payment system.
Structured Settlements for a great deal of clients are the ideal solution. Payments spread evenly over a period permit clients to balance their finances and pay bills in the years to come. Some people get their settlement payments $300, $1000 or even more every month. Occasionally they may include lump sum payments many years in the future. This is fine as long as their life is humming along and their bills are being paid. Yet, circumstances infrequently get in the way, and people need the one-off sum cash right away to solve some issue which has come up in their lives.
If you’ve been hurt in an accident, chances are high that you have hired a solicitor to chase your claim for compensation for your wounds, discomfort and suffering. This is a fairly common occurrence for those that have been put through the wearing tribulation of having to endure an accident for which they were not at fault. For many years when a settlement got awarded to the victim, the quantity of money that was given would go to the victim in the form of an one-off sum. this is normally not right anymore. Nowadays the more common demeanour of paying money to the injured party is in the shape of a structured settlement.
In the most simple of terms, a structured settlement is a payment to the injured party made in regular installments over a time period. This is different than getting a cash award in a lump sum up front. As an example, if an individual was in an accident which was ruled that the other party was responsible, the other party may have to pay damages. If the amount was one million bucks, instead of a check being cut for one million dollars, it would be paid out in monthly payments over a period of a few years. For instance, an one million dollar settlement paid out monthly over 10 years would imply a check paid to the inured party in an amount a little over 8000 greenbacks each month. A structured settlement can change as to how it is paid out. Some forms of structured settlement are paid out monthly and others annually.
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Getting Lump Sum Cash For Your Structured Settlement
Most frequently, a lawsuit requires much time to be settled. But, anyway, it may happen that the monthly payment is not enough for you to pay all your bills and expenses. Then, you can simply convert your structured settlement into a lump sum pay through some agency which works with this matter. However, make sure you find some reliable and effective company as in just a few months your cash money will be transferred to your account.
First, when you find some reliable company go and check its website where you will find some very simple forms to fill in. Then, a professional person will clearly explain you how to receive cash for structured settlement. It includes anything from your children’s education, household bills, currently unaffordable medical bills, etc.
Still, before you make any decision make sure you are familiar with the rules and regulations of this process. If everything is correct, you will receive cash at your account in just about two to three months.
You can alternatively ask for cash in advance while waiting for the lump sum whereupon you will be given a small amount of money to cover the essentials while waiting for the lump sum.
In addition, you should have in mind that not all settlement cases win a lump sum. The process involves hiring a lawyer who will appeal to a judge that you require a lump sum. Next, if the judge agrees on the reasons of your request, you will be granted a lump sum or cash for structured settlement.
Usually, these top companies have their own lawyers who are very familiar with the rules and regulations that bind the whole cash for annuity process. You can be sure that this procedure guarantees you that you will receive the lump sum in due course of time.
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What are Structured Settlement Annuities?
If it happens that some big company starts a legal procedure against the other big company, particularly in case of being injured by its negligence, it is likely that this procedure will end up in structured settlement annuity. This term refers to the agreement whose aim is to solve the disagreement and make both parties happy with the deal. For instance, the defendant could be some large corporation, but it doesn’t have to pay out a lump sum of money
Otherwise, paying a lamp sum of money may have bad effects on its business. Besides, the claimant is satisfied because he can be sure that he will be given the money he truly deserves.
If you are an injured side, you finally need to overcome the quarrel that both you and the defendant will agree on. Furthermore, you will be obliged to drop the charges on him for which you will be made up for.
The structured settlement annuity is a good way to solve the disagreement between the two parties-the defendant and claimant. Also, you don’t have to be worried about the capability of the company to pay out the total amount as the company is only required to do so in smaller divisions of cash. This alternative is definitely better because nobody feels betrayed in the end.
In general, if you find yourself in a lawsuit and you don’t know which type of settlement to select, the structured settlement annuity is, undoubtedly, the great choice. Still, you can consult with your legal advisor as just one wrong step can withdraw your chances of receiving your settlement.
Consult an industry expert who will explain exactly how structured settlement annuity works, which options are available to sell annuity payments, insurance payments, and injury payments and also which factors to consider that will ensure a perfectly sealed deal. You may visit FairField Funding to talk to an experienced professional in this area.
Once you get structured settlement annuity, there is an option to get an insurance company that buys the annuity policy from another insurance company. However, it is up to you whether you want to be paid the whole amount all at once, or you’d rather get it in smaller sums in the end of month. The reasons for this can be different; so, if you are more interested in receiving a lump sum they usually offer cash for structured settlements.
But, you must know that you have to deal with lots of paperwork once you decide to sell the settlement annuity. In addition, when the agreement has been made between the parties it must be approved by a judge. After that, the money will be paid out. Still, make sure to follow a written instruction, and all of the disclosures which must be agreed upon as well as the settled amount. If the judge agrees, then the money can be paid out.
When people decide to get money in smaller divisions each month they may find themselves in problem when it stops coming in the future as they got used to it. For that reason, it is not a strange thing that they would rather sell it instead of keeping it. On the other hand, keeping a structured settlement annuity versus selling one gives you various benefits. A great advantage is that you will be given extra monthly payment.
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Make the Most Out of Structured Settlement Company
You certainly wonder what a structured settlement company is? Well, it is an association whose main task is to help individuals entitled to annuity payments. Even though there are many different kinds of structured settlements, the most common one is that which is offered to individuals who have been seriously harmed. Most structured settlement companies employ people who have already specialized in a particular area. In general, staff members comprise of individuals well educated in many different areas such as casualty claims, law, medical malpractice, finance, commercial liability and Worker’s Compensation.
Structured settlement consultants take into consideration both claimants and defendants’ sides after which they start with making compensation plan for the injured party. Instead of paying lump sum money, structured settlements give regular income over a specific period of time. Therefore, the claimants can be paid money once in a month, quarterly, bi-annually or once a year. Depending on their choice, they can be paid out over a few years or a lifetime.
If a person suffers from some injury at his work, in a car accident, or as the result of negligence, he can ask for a structured settlement. Most often, a person must uphold losses of $10,000 so as to qualify for this kind of financial agreement. If kids are involved in this, losses an amount of $5000 will be sufficient to qualify for a settlement.
In general, structured settlement companies pay fixed amounts during a particular period of time. However, every settlement case is exceptional and can be arranged in a way that best fits the needs of the claimant. These payments are financed by an annuity bought from a life insurance company. For that reason, it is the responsibility of a defendant to buy the annuity.
The claimant is offered help by structured settlement company to provide the funds he needs, when he needs them. Generally, the case will be carried out by a few consultants who will compensate the injured party for both current and future expenses. In addition, the structured settlement company will deal with the account portfolio and make financial investments for the claimant.
For example, if a claimant has to take a serious medical procedure for a period of six months, the structured settlement company will contribute additional funds to cover the costs. When the procedure is over, the claimant will be no longer given the additional money and will go back to a lowered annuity payment.
To sum up, structured settlements offers numerous ways how to get one, as there are people who need them. For that reason, it’s highly recommended to retain the services of a structured settlement company. These professionals can lead claimants through the wide range of options and make sure that they will receive the best settlement possible.
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Advantage of a Personal Injury Structured Settlement
One important advantage of a personal injury structured settlement is tax avoidance. With correct set-up, a structured settlement might considerably scale back the plaintiff’s tax obligations as a result of the settlement, and may in some cases be tax-free.
A structured settlement can shield a plaintiff from having settlement funds dissolute, when they are necessary to obtain future care or needs. Sometimes a structured settlement will facilitate shield a plaintiff from himself – some people merely aren’t good with cash, or can’t say no to relatives who want to “share the wealth”, and even a large settlement can be rapidly exhausted. Minors may profit from a structured settlement also, like a settlement that provides for bound prices throughout their youth, a further disbursement to pay for college or different academic expenses, and then one or more disbursements in adulthood. An injured one who has long-term special desires could benefit from having periodic lump sums with that to buy medical equipment or changed vehicles.
In some things, it can be higher for a severely disabled plaintiff to set up a special needs trust, rather than coming into into a lump sum or structured settlement. Any plaintiff who is receiving, or expects to receive, Medicaid or alternative public assistance, or the guardian or conservator coming into into a settlement on behalf of a disabled ward, should sit down with a disabilities financial planner about their scenario before selecting any explicit settlement option or structure.
Potential Disadvantages of Structured Settlements
Some folks who enter into structured settlements feel trapped by the periodic payments. They’ll want to get a replacement home, or different expensive item, nevertheless be unable to muster the resources as a result of they can’t borrow against future payments beneath their settlement.
Some folks will do better by accepting a lump add settlement, and investing it themselves. Several standard investments can give a greater long-term come than the annuities employed in structured settlements.
Selling a Structured Settlement
If you have got a structured settlement, you’ll have been approached by a company curious about buying your settlement, or could be interested by selling your settlement in return for a lump total buyout. About 2 thirds of states have enacted laws which restrict the sale of structured settlements, and tax-free structured settlements also are subject to federal restrictions on their sale to a third party. Conjointly, some insurance corporations can not assign or transfer annuities to 3rd parties, to discourage the sale of structured settlements. As a consequence, depending upon where you reside and also the terms of your annuities, it could not be potential for you to sell your settlement.
Remember that companies that purchase structured settlements will exploit their purchase, and generally their offers could appear quite low. You will profit from approaching a lot of than one company in relation to the sale of your settlement, to create positive that you obtain the best payoff. You furthermore might want to be sure that the corporate that desires to buy your settlement is established, well-funded, and reputable – you do not wish a fly-by-night outfit to obtain the rights to your annuities however to disappear or go bankrupt before paying you the buyout money. You’ll have to go to court to induce a choose to approve the buyout. It’s usually a good idea to confer with a lawyer before entering into an agreement to sell your settlement.
Special Considerations
Someone getting into into a structured settlement ought to be on guard for potential exploitation in relation to the settlement:
Excessive Commissions – Annuities will be highly profitable for insurance firms, and they often carry terribly large commissions. It is important to confirm that the commissions charged in fitting a structured settlement do not consume an inappropriate share of its principal.
Overstated Worth – Typically, when negotiating a explicit settlement figure, the defense can overstate the value of a structured settlement. As a result the plaintiff, in accepting the settlement, in fact obtains a significantly lower dollar value than was agreed upon. Some defendants have nominally paid the full amount of the settlement, knowing that they’d later get vital rebates from the annuity companies they used. Plaintiffs ought to take into account comparing the fees and commissions charged for similar settlement packages by a selection of insurance companies, to form positive that they are of course obtaining full value. A plaintiff could want to make it a condition of the settlement that the defendant will actually pay the total value of the settlement in putting in the structured settlement, and that any rebates received by the defendant for annuities included within the settlement be payable to the plaintiff.
Self-Dealing – There have been cases where the plaintiff’s lawyer is also in the insurance business, and sets up a structured settlement on behalf of a shopper without disclosing that the attorney is buying the annuities from his own business, or is pocketing a massive commission on the annuities. Similarly, there are things where the plaintiff’s attorney has referred the shopper to a specific financial planner to set up a structured settlement, without disclosing that the money planner can be paying the attorney a referral fee in relation to the shopper’s account. Make positive that you know what money interest, if any, your lawyer has in relation to any monetary services sold or recommended by the lawyer.
Life Expectancy – It is unfortunate, but several people who receive massive personal injury or workers’ compensation settlements can have a shortened life expectancy as a results of their injuries. It’s necessary to consider life expectancy in association with any structured settlement, and to think about whether or not it’s acceptable to enter into an annuity where payments will cease upon death. Generally it can create sense to insist upon an annuity that pays a minimum variety of payments, or one that can pay a balance into the plaintiff’s estate, such that the worth of the settlement is not lost to an insurance company upon the plaintiff’s untimely death.
Using Multiple Insurance Firms – For larger settlements, it typically makes sense to get annuities for a personal injury structured settlement from many different companies, dividing the settlement between those companies. This will offer you with protection in the event that a company that issued annuities for your settlement package goes into bankruptcy – even within the event that one in all the companies defaults in half or in full on your settlement payments, you’d still receive full payment from the opposite companies.
Before you sell structured settlements to the first buyer you need to be sure you are getting the best deal possible because you can only sell it once. For more personal injury structured settlement information which has the information to be sure you are not ’short-changing’ yourself and your family.
Cash For Your Structured Settlement
You have certainly seen various advertisements on television which offer cash for structured settlement. But, you may be in doubt whether it is something good for you and what it actually implies. Well, it depends on some factors and your personal situation. Structured settlement annuities mean that you will be paid money regularly during a period of weeks, months or years. You may receive it either as an income if you are not able to work, or as regular money for bills and other expenses. However, you may consider these payment amounts very low that they are not useful. If you are getting behind on mortgage payments or other expenses, you might think that cash for structured settlement is what you require in fact.
Before you receive cash for your structured settlement annuities you have to fill in some forms which transfer the payments to the company you would like to deal with. Therefore, the company you have chosen will receive the money instead of you. But, you have to be very careful as there might be some regulations which make you ineligible to receive cash for structured settlement. In that sense, the most common one is that the settlement is a result of a worker’s compensation request. So, before you even make a choice of a company you want to work with, make sure your structured settlement is eligible to be transferred.
If you sign over your payments, it immediately means that your money belongs to the company you have previously chosen to work with. But, this can really cause you troubles if you are unable to work and have no other source of income. So, in case you have some necessary expenses and you need money right away, you will ask for the money in total. On the other hand, if you are thinking of cashing in your settlement due to any other reason, you are recommended to keep your payments coming and forgoing the other chance.
There are many companies that offer their services for the structured settlement. Still, each of them claims to give you the best prospects. Nevertheless, their job is to make a profit and that they will not work at a loss. Due to that, you have to pick out the service which offers you the biggest cash for structured settlement. Search a little on the Internet and respond to advertisements that you see in magazines and on television. You have to know that you are not signing any agreements; thus, be very careful if any company demands of you to pay some amount of money in order to be given an estimate. It may be a sign that they are not truly honest with you.
Still, if you cannot decide whether or not you should take cash for structured settlement, the best way to start is to do your homework. Ask someone trustworthy for a piece of advice, as it will certainly be of great help in making the best and most acceptable choice.
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Thinking On When To Sell A Structured Settlement Payment And How To Go About It
Today, There are many people who are the recipients of structured settlements as a result of a financial arrangement reached after a personal injury lawsuit or some other sort of legal action. As a financial arrangement that includes the payment of money over a set period of time, structured settlements have grown in popularity in this country over the last few decades.
Usually, most every lawsuit settled or decided upon by a jury features a structured settlement rather than the payment of a lump sum which, prior to the 1970s, was the most common way of paying off in a lawsuit that involved personal injury or other torts. They are distinguished by the fact that money is paid on an installment basis over a length of time, with recipients living off the payments.
However, there may come a time when a recipient of a settlement needs to obtain fast or quick money in order to meet other financial obligations as a result of an emergency or some other issue. The law in most states allows for recipients of such settlements to sell off portions of their settlements in many cases in order to obtain up front money to meet emergency needs.
The old saying “A bird in the hand is worth two in the bush” is probably operative when it comes to the whole structured settlement sale industry. Up front money can greatly aid many people, and a majority of states in the country allow for the selling of portions of structured settlements, with those who are receiving an annuity not being subject to any federal tax from selling a portion.
The fact that a structured settlement payment isn’t subject to federal tax can go a long way towards making such a sale attractive, with many of these transactions taking place because of that fact. Such sales can range from several thousand dollars up past a million or more dollars. All such settlement prices depend on the structured payment and how much of it is going to be sold off.
Before selling any portion, there will be some steps that need to be taken. Firstly, check on the institution or funding source offering to buy a portion of the settlement. Make sure that the institution making the purchase is insured and licensed to purchase structured settlements. Also, the funding source or institution should be carrying a bond showing that it can meet obligations.
Additionally, remember that any sale of a portion of a structured settlement will be at a rate that is discounted from the true value of the settlement payment. Rates are always negotiable between the person selling the payment and institution proposing to buy it, so expect a fair amount of negotiating. Also, in many cases a seller of such a payment must obtain approval from a judge before the sale can be consummated.
There are certainly plenty of occasions when the need to sell structured settlement payment may arise. Some people require immediate cash or others are weary of waiting for an annuity payment. Regardless, check the financial institution or funding source out thoroughly before agreeing to any sale. And expect about 90 days lag time between sale closure and payment.
Why a person might sell a structured settlement payment and how it’s done can be of utmost importance when someone who has been the recipient of a sell structured settlement payments award or decision is in need of quick money or ready money.
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Important Sell Structured Settlement Facts
Conditions you should be aware of in the transfer of cash for structured settlements payment rights.
If you want to get cash cash for structured settlement, there are some important matters that you should be concerned with. The long term cost of selling your structured settlements for a lump sum payout are substantial. Most people don’t take these costs into consideration and only focus on the immediate impact of a large cash windfall.
If you do decide to use a structured settlement brokerage company, you’ll need to know a couple of things about the laws regarding this.
A structured settlement is defined as an arrangement for periodic payment of damages established by settlement or judgment in resolution of a tort claim. In most instances, these periodic payments are established and tailored to the living and medical needs of the victim and prevent the shift of responsibility for care to the taxpayer-financed social safety net.
With structured settlements, you as the beneficiary are paid over a number of years in a series of installments, and the payment terms are not flexible. Usually, you will get your payments in monthly installments, in periodic lump sums, or by a combination of the two.
Most often, purchase agreements require that the consumer agrees to a host of provisions that severely restricts your rights and actually may not be very fair. Oftentimes, though, to avoid lawsuits or something similar, contacts also require that the consumer relieve the purchasing party of any responsibility, and agree not to sue them.
The price terms usually unfair. Summary accounts show that some sales are completed with a 12 percent or 15.8 percent discount rate, but other sales have been completed with a rate as high as 55, 65, and 75 percent. In addition, since the discount rate is always calculated on the purchase price which includes brokerage and other expenses “agreed” to by the seller in the contract, the real discount rate and cost of the transaction to the seller is artificially depressed. Moreover, there is no requirement to disclose to the seller, in understandable terms, the total costs of the transaction. Given the unfairness of some of the transfer agreements, consumers need protection from factoring companies that take unfair advantage.
Some say that structured settlements give financial protection that’s sorely needed to severely injured victims, so that they are protected from having their benefits prematurely dissipated; periodic payments are tailored to the medical and living expenses of the victim and the victim’s family, and it avoids shifting the responsibility for the victim’s care to the social safety net financed by taxpayers. These same people say that factoring companies that purchase future structure payments for sharply discounted lump sum payments are dramatically on the rise. This means that the structure is taken out of the structured settlement, in that the injured victim enters into this with a third party, thus going completely outside of the structured settlement without knowledge of any other parties involved in the structured settlement itself.
According to industry watchdogs, the unscrupulous side of the structured settlement factoring business is rapidly growing. One company announced that it has undertaken more than 7,700 structured settlement purchase transactions with a total value of $370 million. During the first nine months of 1997, the same company undertook more than 3,700 structured settlement purchases paying $74 million for $163 million of structured settlement payments.
The National Association of Settlement Purchasers (NASP) is composed of companies that purchase deferred payment obligations, including structured settlements. It is a nonprofit. It was formed in July of 1996, and this organization, along with its member companies, support reasonable regulation whereby the rights of consumers who want to sell structured settlement payment rights are still protected. Because of this, the organization has adopted a code of ethics, including consumer suitability of protection standards. It has also implemented a fraud alert system. The organization seeks to provide claimant representatives and claimants themselves with legal, ethical and efficient means by which to obtain liquid funds from inflexible structured settlement schedules. NASP is active in a number of states, and is currently working to pass comprehensive legislation in those states that would protect the interests of personal-injury victims both when the settlement agreement is reached, and in the event the individual or his/her representatives seek to liquidate a portion or all of the structured settlement in the future.