Litigation

Everybody Get up and Do "The Blog Rodent Dance"

Jatupat Limpanarom is this week's Blog Rodent for excreting rat droppings on a website that does a pathetic to describe structured settlements on cashforstructuredsettlement.us for what appears to be the sole purpose of selling Google Ads. While we have no problem with selling ads ( we do so ourselves), we do have a problem with illiterate tripe written by those with no bona fides on a subject that is near and dear to our hearts. The structured settlement watchdog is on a crusade to expose blog rodents and will periodically highlight specific individuals involved in this practice in the hopes that it is a deterrent.

In a piece entitled "Understanding qualified structured settelment assignment and funds" Jatupat Limpanarom's website leaves these rat droppings:

"There are two kinds of assignments in personal injury and workers comp cases. They are the qualified and the non qualified structured settlement assignment. A non qualified assignment is usually a periodic payment to the injured person but stays on the books at the responsible company. This non qualified assignment is not tax free and goes beyond the qualified structured settlement"

"A qualified structured settlement fund is a fund that is set up to allow a lawsuit with more than one claimant to be settled before the arrangement of the amounts of money are allocated".

Comments:

1. If you are speaking of structured settlements, the whole idea of an assignment, whether a qualified assignment pursuant to IRC 130,  or a non qualified assignment, is to get a periodic payment obligation off the books of the defendant or insurer.
2. A non qualified assignment IS NOT a periodic payment, it is a legal instrument by which the obligation to make periodic payments can be transferred to a third party in cases which involve taxable damages, or more specifically, those damages that are not excluded from income under IRC 104(a)(1) and IRC 104(a)(2)
3. There is no such thing as a qualified structured settlement fund. For what the blog rodent describes the proper terminology is "qualified settlement fund"

Email Jatupat to congratulate him if you wish at  jatupat_mai@hotmail.com on winning this week's Blog Rodent "trophy"

Structured Settlement Watchdog awards the "Blog Rodent" trophy