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Settlement Help April 17, 2009

Posted by Attorney Jonathan Groth in Motorcycle Collisions, Personal Injury Law, Wisconsin Auto Accidents.
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1 comment so far

When settling a case for a minor it is extremely important that the money is going to actually be there for the minor.  Seems pretty obvious.  In Wisconsin, courts must usually be involved in approving a settlement for a minor.  It’s the governments way of protecting a minor from him or herself, the parents and unscrupulous attorneys.

If I settle a case for a 10 year old what happens 8 years from now, 10 years from now 15 years from now?  What happens to the money in the eight years before the kid turns 18.  Look what happened last year.  If the money was put in the stock market the child may not have as much as awarded in the initial settlement or verdict.

It is the gaurdian ad litem’s (the attorney responsible for advising a Judge as to the appropriateness of a settlement for a minor or “incompetent” victim) job to make sure a victim’s compensation is an appropriate amount and is secure at the outset so it doesn’t get squandered.  The gaurdian ad litem recommends certain terms to the court for approval.  But, attorneys can’t know everything about the financial world.  I certainly don’t.

That is where a structured settlement expert comes into the picture.  This article is about Chuck Derenne of Wisconsin.  I’ve worked with Chuck a lot over the past 9 years.  He is a valuable asset for attorneys who help victims.  If you’d like more information about Chuck give me a call and I can put you in touch with him.

If you have questions about a structured settlements in Wisconsin feel free to contact me.  I’d be happy to discuss your situation.

www.jonpgroth.com

Jon Groth is a Wisconsin Personal Injury Attorney handling cases throughout Wisconsin and most recently in Amberg, Janesville, Sheboygan and Wauwatosa.

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Structured Settlements – not exciting but very important July 15, 2008

Posted by Attorney Jonathan Groth in FAQ Personal Injury.
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2 comments

I’ve had the luxury of working with some premier structured settlement planners over the years.  Personal Injury attorneys call on these professionals if an injured victim receives a sizable settlement or verdict and there is the need to ensure that the victim will have these funds, guaranteed, for years to come. 

In general, what is a structured settlement?

  1. It’s a settlement in which some or all proceeds are paid over time instead of all up front.
  2. It must be written into the settlement agreement;
  3. The obligation to make payments is assigned by the defendant (at fault insurance company) to an assignment company which purchases an annuity;
  4. The “customer” buying the annuity is an assignment company NOT the injured party;
  5. The payout is fixed and determinable.

Structured settlement is are smart ideas in many cases.  Ask your personal injury attorney whether your case or your child’s case fits the criteria.

www.jonpgroth.com