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Articles Posted in Structured Settlements

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Here is some information that may be helpful when considering selling your payment rights to your Structured Settlement per the Consumer Finance Protection Board.

What you should know before giving up your Structured Settlement payments.

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This is a good article about Structured Settlements. The quote by Professor Christopher Coyne, a St. Joseph’s University finance professor is very insightful. He said, “Conventional investing logic doesn’t apply for plaintiffs in injury or wrongful death accidents. Guaranteed income is vital and few have experience creating plans to meet this need.”

Since a structured settlement annuity is the only investment that can provide safe, secure, income-tax free, management-free, payments that cannot be outlived, it is an investment vehicle that should be carefully considered in personal physical injury and wrongful death actions.

This fixed-income allocation is especially critical for catastrophically injured plaintiffs, minors, those who are now disabled or unemployable, and those without the training, experience, education and track record of investing large amounts of money to last a lifetime.

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Here is a pdf of the Murphy v. IRS case Murphy v. IRS — F.3d — 2006 WL 24113372, D.C. Cir., Aug. 22, 2006 (Slip opinion No. 05-5139).

There has been an AP wire article on this that was carried in the New York TImes see New York Times . Tax Code on Emotional Damages Tossed. August 22, 2006.

Also there wasn at least one commentary in the financial wires on this topic on August 23, see financial blog reaction to Murphy.

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Murphy v. I.R.S. — F.3d — 2006 WL 24113372, D.C.Cir., Aug 22, 2006 (Slip Opinion No. 05-5139).

Quick summary

What the Murphy court said is if you are emotionally harmed or if your reputation is injured, you get to keep all of the damages and not pay any taxes.

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