Services

Settlement Planning

Settlement Planning includes structured settlements or periodic payment arrangements for claimants or injured persons but may extend to consultations regarding the preservation of needs-based benefits, management or protection for lump sum awards, and professional administration of Medicare Set-Aside accounts.  In addition to the options available to the claimant or injured person, an attorney also has planning options for their fee including a structured settlement or a deferred compensation program. 

Choosing a structured settlement for an injured person provides:

  • Potential for income tax-free payments depending on the type of settlement

  • Extending the life of their settlement proceeds 

  • Income to cover future medical expenses, needs, or wants

  • Payments from a financially secure life insurance company

  • Low risk of default

  • A means to liquidate a settlement over time

  • Protection against creditors, bankruptcy, and divorce  in some states

Structured settlements for cases that do not involve physical injury or those that involve attorney fees are not income tax-free but provide tax-deferred payments. 

Personal Injury: Children

Settlements for children need particular attention because there are limitations on how the settlement proceeds can be paid for a minor. Although the rules may vary state by state, the options are generally one of the following:

  • Restricted court depository

  • Guardianship accounts

  • Trusts

  • Pre-paid college 

  • Structured settlements

Personal Injury: Adults

Cases involving adults would typically use a structured settlement in lieu of a lump sum award or in addition to a lump sum award.  An individual may decide to create a guaranteed series of payments that are protected from a spend-thrift nature or as a replacement for future income.   

  • Structured settlements 

  • Lump Sum Award

  • Funding Medicare Set-Aside with structure 

  • CMS-approved method of funding an MSA

  • Professional Administration versus self-administration

Employment Settlements

Structured settlements are also available for non-physical injury settlements.  While structured settlements in these cases are not income tax-free, they are income tax-deferred.  The types of settlements that would be eligible include:  

  • Discrimination

  • Wrongful termination

  • Sexual harassment

  • Contract disputes

  • Mental anguish

Other Settlements

There are opportunities to use structured settlements for non-physical injury cases that are not categorized as employment settlements.  The types of settlements that would be eligible would include those involving: 

  • Wrongful imprisonment

  • Punitive damages

  • Construction defects

  • Errors & Omissions 

  • Installment Sales

HOW IT WORKS

Get started, the sooner the better.

Calling us for help as soon as the demand or the complaint is filed lets us support you during the settlement. We have time to evaluate the facts of the case with you, request critical information, and provide smart solutions for you and your client. Our collaborative process allows us to bring in needed resources and products that benefit your client paving the way to a smooth and successful settlement. Although we can be brought into any phase of the settlement pathway, the sooner we are engaged, the better the outcome. If you are struggling with a settlement, we are always here to help.

Pathway to a Successful Settlement

  • Demand Submitted or Complaint Filed

    Understanding coverage limits and future needs of client in order to make appropriate valuation of case to include in demand or complaint.

  • Engage Webster Settlements

    Engagement with Webster, at this crucial stage, can provide an opportunity to increase the value of the settlement leading to a better outcome.

  • Negotiation, and Acceptance of Offer

    Use of a structured settlement could bring the parties to an amicable resolution by bridging the gap between offer and acceptance.

  • Signing of Agreements

    Having all terms of the settlement defined and including necessary language outlining the terms in the documents to be signed by the parties.

  • Payment of Settlement Proceeds

    Payment of the settlement must include a separate check for the structured settlement premium payable to the life insurance company.

  • Policy and Future Periodic Payments

    The client’s future is protected and a policy is issued identifying the future payments they will receive. The client’s settlement is complete.

Partner with Webster

It only takes 15 min to explore the opportunity of working together.