Better Negotiations In Employment Structured Settlements

Better Negotiations In Employment Structured Settlements

The topic of the day is employment structured settlements. If you are an employment lawyer, whether you're a plaintiff, a defense lawyer or you're someone who is mired in litigation over wrongful termination, sexual harassment, failure to promote anything to do with an employment case. Then you really need to know about employment structured settlements. Because, to my amazement, there are not more structured settlements done in employment cases. I think a lot of it has to do really more with education then there are just tons of them, presented and then rejected.

Better Negotiations In Employment Structured Settlements
Better Negotiations In Employment Structured Settlements

1. When You Have An Employment Case

All of the damages are taxable. Admittedly some people try to shoehorn in a physical injury case, but let's assume everything is taxable. Because that's really the majority of cases, when you settle your case and you'll see you get a million dollars you get to pay your attorney and you've got to pay taxes. What you may end up with is really a very small percentage of what you thought you were going to get. It really doesn't increase the level of it doesn't provide a large level of satisfaction. By structuring your employment structured settlement, you can spread the taxes out over a period of time and provide yourself with a safe and secure income, for a period of time.

Let's say you believe, you were wrongfully terminated from your job, the late 40s or 50s. I don't know what your thoughts are about your employability at that point. But maybe, something that provides you with a stream of income. Could provide you with a level of comfort and security and stability while you're we're looking for something alternative. What it could be the money could be used to provide supplemental retirement payments, for the future. Maybe, you've lost some retirement payments, I mean that's something that it could be used for there's a lot of different applications. Structured settlements can be used to provide a great level of security.

2. You’re On the Defense Side of a Case

If you're on the defense side of a case, I mean geez if you're really dropping the ball. If you're not considering using structures, I mean you're offering expensive dollars to settle cases. If you have a failure to promote case, and somebody's claiming $2,000 a month loss 10 years, why are you paying for the taxes today? When you could basically make that person 100% whole and in write, a structured settlement for that $2,000 a month starting. Whenever it's supposed to start I mean we literally anything that can be any type of cash flow can be replicated. It’s a time-tested way of doing things even though the employment market has not been penetrated.

The degree that the physical injury market has, but it's something that if you are an employment attorney you really this is something you really need to think about it. Same thing if you are somebody who is involved in a case yourself as a plaintiff it's something that. You should think about even if your lawyer hasn't. Bring it to their attention we'd be happy to chat with you about the different options worked in a lot of employment cases.

3. Annuity Based Product Use in Structured Settlement Cases

Basically, with the structured settlements, that is done employment cases. There are basically three different vehicles that you can use, there are a couple of others but the basic primary vehicle is to be used as follows. There's an annuity based product that's available through.

Liberty Life Assurance

Liberty Life Assurance Company of Boston, this is a traditional non-qualified assignment, where it has an offshore assignment company. Basically, there's Liberty and there Barco program Liberty is the primary non-qualified assignment provider, right now in the United States.

Liberty Mutual

There's certainly a quality company Liberty Mutual which provides a guarantee of Liberty life. Has been around since 1912 there will become the country's largest worker's comp insurance, certainly a company you should feel very comfortable with.

National Indemnity Company

Then there is a national indemnity company. Which is a Berkshire Hathaway subsidiary and national demo world’s largest reinsures. Whey provides periodic payment reinsurance that can be used in a non-qualified setting.

Midwest Trust Company

You have that and you also have another non-qualified set up that doesn't use annuities through structured assignments Inc. They basically use the obligation set of being backed by an annuity are backed by United States Treasury obligations that are held in trust at Midwest trust company. This is based just outside of Kansas City. 

4. Why These Company?

There are a number of insurance companies that ensure Employment Practices Liability will not use Liberty just for their own reasons. They have minimum rating criteria Liberty is rated. If you are dealing with an insurance company, who is paying out national demit is a great solution. They're a rated A++ it's a reinsurance contract, there are differences between a reinsurance contract and an insurance contract. It's certainly a viable solution, they are a quality company and in quality, paper to sit behind your obligation. And certainly, every bit is flexible in terms of plan design as a structured settlement. Particularly useful on cases where there are long duration payouts.

5. If You Have A Situation In Which You Have Limited Options?

If you have a situation where there is no insurance company then your choices are basically limited to a non-qualified assignment company. If you are an employment attorney it works in Employment Practices Liability or an insurance company. Who is working Employment Practices Liability you really should engage a structured settlement consultant or a structured settlement planner. Who is experienced in this area, who can take you through the process and ways in which you can engage, all parties and the creative discussion, as a means to resolve your cases.

8 secrets that insurance companies won't tell you.

Post a Comment