Non- Qualified Options for Employment Case
A plaintiff attorney referred an employment case to his long-time structured settlement consultant. The case settled for $5.25 million and it was anticipated $1 million or more would be placed into a structured settlement. As this would not be an IRC Section 130 assignment (physical injury case), a Non-Qualified Assignment (non-physical injury) would be utilized to provide tax-deferred payments for the client.
About the Defendant
The consultant had completed similar cases with this defendant in the past. The defendant is a large, sophisticated self-insured company. The company had resisted non-qualified assignments in the past but ultimately agreed to structure, fund the annuity thru Structured Assignments, Inc. (SAI) and execute proper release with Non-Qualified Assignment and Release (NQAR).
About the Plaintiff
The plaintiff is a 40-year-old male, looking for 20 years of monthly payments beginning in one year; all quotes assumed $1 million in premium, with funding in 30 days. Structures provided competitive monthly benefits thru available life insurance carriers when placed thru Structured Assignments, Inc. Domestic and US Treasury products were also priced. Chart below illustrates monthly benefit.
Know Your Options
Having options to present to your client offer objectivity while at the same time providing a solution that will ensure client loyalty.
For more information about structured settlements for non-qualified physical injury cases, contact your settlement consultant.