Litigation

The Structured Settlement Illiterate Tip of The Day "featuring" Stan Johnson

By John Darer

Self back slap happy writer Stan Johnson on "Better Structured Settlement (Dot) Com" has essentially hung himself up in "Not Everything You Read About A Structured Settlement is True"

Stan Johnson states "Like only few writers out there, Stan Johnson is a writer who takes the time to provide only professional content, as this (following) article has shown."

Well here is a small "stool sample" of the made for Adsense "professional content" on offer from Johnson:

Johnson affirms that a structured settlement "means that from time to time you get little bits of it until it is all done"

"Sometimes an insurance company, even though they might have made the offer themselves, might not have the time for the responsibility of watching over your account to make sure you get your structured settlement payments. Such instances call for the inclusion of another firm, which is usually one that is into similar businesses. This third party is called the assignment company, and it is only reasonable to expect that they are affiliate to the life insurance company that owes you in the first place. Talk about keeping the dirty laundry in-house".

FACTS:

1. Since 1983 most structured settlements are assigned by way of a qualified assignment.
2. A qualified assignment benefits both the plaintiff and the defense.
3. The defendant or insurer tax payer gets a tax deduction and/or can close its books and the plaintiff can rely on a third party instead of the tortfeasor. 
4. The issue of "not have the time for the responsibility of watching over your account to make sure you get your structured settlement payments" does not come into play with the insurance company. One beautiful facet of a structured settlement is its simplicity. It does not require much beyond basic clerical tasks (change of address, bank account, beneficiary etc) once set up.
5. The qualified assignment can help the plaintiff avoid being a general creditor of the defendant or insurer.
6. While qualified assignment companies are often affiliated special purpose corporations of the annuity issuing life insurance company, it is the qualified assignment company that takes on the obligation of the defendant or its insurer and funds it with an annuity contract (or United States Treasury obligations)

Had Mr. Johnson actually taken the time to research the subject, bone up on his spelling and grammar he might actually write something of use to consumers and not be subject to the bite and bark of the structured settlement watchdog who seeks to promote financial literacy on the subject.

NATIONAL FINANCIAL LITERACY MONTH...WHAT ARE YOU DOING ABOUT IT?

Full post as published by Structured Settlements 4Real on April 14, 2009 (boomark / email).