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MyWikiBiz, Author Your Legacy — Friday November 01, 2024
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{{Infobox_Company Share
{{Infobox_Company Share
| company_name = [[Company_Name:=Structured Settlements]]
| company_name = [[Company_Name:=Structured Settlements]]
| company_logo =
| company_logo = [[Image:Structured settlements.jpg|200px]]
| company_slogan = ''The Structured Settlements Resource''
| company_slogan = ''The Structured Settlements Resource''
| company_type = [[Company_Type:=Private|[[Private Company|Private]]]]
| company_type = [[Company_Type:=Private|[[Private Company|Private]]]]
'''[[keyword:=Selling Structured Settlements|Structured Settlements]] [[keyword:=Cash For Structured Settlements|is]] [[keyword:=Structured Settlements|the]] [[keyword:=Structured Settlements Help|definitive]] listing on the internet for all of your settlement related needs. We strive to provide the best information and services possible so you can get the most your settlement. Our service works in conjunction with [[Directory:Lawyer Central|Lawyer Central]] to maximize information and service coverage.'''
'''[[keyword:=Selling Structured Settlements|Structured Settlements]] [[keyword:=Cash For Structured Settlements|is]] [[keyword:=Structured Settlements|the]] [[keyword:=Structured Settlements Help|definitive]] listing on the internet for all of your settlement related needs. We strive to provide the best information and services possible so you can get the most your settlement. Our service works in conjunction with [[Directory:Lawyer Central|Lawyer Central]] to maximize information and service coverage.'''
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==What is a Structured Settlement?==
==What is a Structured Settlement?==
A Structure Settlement is a financial or insurance arrangement, including periodic payments, that a claimant accepts to resolve a personal injury tort claim or to compromise a statutory periodic payment obligation. Structured settlements were first utilized in Canada and the United States during the 1970s as an alternative to lump sum settlements. Structured settlements may include income tax and spendthrift requirements as well as benefits. Structured settlement payments are sometimes called “periodic payments”. A structured settlement incorporated into a trial judgment is called a “periodic payment judgment”.
A Structure Settlement is a financial or insurance arrangement, including periodic payments, that a claimant accepts to resolve a personal injury tort claim or to compromise a statutory periodic payment obligation. Structured settlements were first utilized in Canada and the United States during the 1970s as an alternative to lump sum settlements. Structured settlements may include income tax and spendthrift requirements as well as benefits. Structured settlement payments are sometimes called “periodic payments”. A structured settlement incorporated into a trial judgment is called a “periodic payment judgment”.
** Is a party to the suit or agreement or to a workers' compensation claim; or
** Is a party to the suit or agreement or to a workers' compensation claim; or
** By a person who has assumed the liability for such periodic payments under a Qualified Assignment in accordance with Internal Revenue Code Section 130.
** By a person who has assumed the liability for such periodic payments under a Qualified Assignment in accordance with Internal Revenue Code Section 130.
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==Complicated Legal Structure==
==Complicated Legal Structure==
An assignment is said to be "qualified" if it satisfies the criteria set forth in Internal Revenue Code Section 130 [http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000130----000-.html]. Qualification of the assignment is important to assignment companies because without it the amount they receive to induce them to accept periodic payment obligations would be considered income for federal income tax purposes. If an assignment qualifies under Section 130, however, the amount received is excluded from the income of the assignment company. This provision of the tax code was enacted to encourage assigned cases; without it, assignment companies would owe federal income taxes but would typically have no source from which to make the payments.
An assignment is said to be "qualified" if it satisfies the criteria set forth in Internal Revenue Code Section 130 [http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000130----000-.html]. Qualification of the assignment is important to assignment companies because without it the amount they receive to induce them to accept periodic payment obligations would be considered income for federal income tax purposes. If an assignment qualifies under Section 130, however, the amount received is excluded from the income of the assignment company. This provision of the tax code was enacted to encourage assigned cases; without it, assignment companies would owe federal income taxes but would typically have no source from which to make the payments.
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[[Category:Houston Area Business]]
[[Category:Houston Area Business]]
