Most experienced litigators are well aware of the benefits of structured settlements in personal injury claims. The ?win-win? proposition of securing guaranteed, tax-free income for an injured party while saving money for insurers has existed in Canada for well over 25 years. Over those years, the role of the structure broker has expanded significantly. Today, the broker is a terrific (and free) resource for plaintiff and defense lawyers, and casualty claim representatives alike, providing valuable expertise to help ?make sense? of the numbers in personal injury claims, whether those claims are ultimately structured or not.
Before negotiations begin, the structure broker can help determine the value of future economic requirements in as simple or detailed a fashion as you require. From developing comprehensive future care cost analyses within a week, to preparing simple ?multipliers? in just a few minutes, the broker can be of great assistance to you in determining the value of a claim.
At mediation, the structure broker can provide on-site annuity costs of future financial requirements, or translate offers into meaningful future payment streams. More importantly, during the considerable ?down time? experienced at most mediations, the
broker can spend valuable time with the injured party explaining the benefits of structured settlements and providing illustrative examples.
This dialogue will not only ensure that the plaintiff understands the structure concept and its benefits, but can demonstrate that a settlement offer will or will not meet the plaintiffs real future needs. The result is that the probability of achieving a settlement is greatly enhanced.
But what do you, as a plaintiff or defense litigator, need to know about structured settlements in order to protect your client, and yourself, when a structure forms part of the ultimate settlement? Negotiations are complex enough, without worrying whether
you?ve missed something important when it comes to the structure component.
It doesn?t need to be. If a structure broker has attended the mediation or settlement meeting, seek his or her input in drafting the provisions of the settlement agreement that deal with the structured settlement. If a structure broker is not present, call one. It is worth your time to use this valuable (and free) resource in order to protect yourself and your client when it comes to the structure component of your settlement. Five minutes on the phone at the end of a long mediation may well avoid reopening negotiations over a seemingly small but thorny structure question, if the settlement agreement is silent on an important issue. It may even save you from having to submit an E & O claim.
In my next articles titled ?PRE-NEGOTIATION? , ?POST-NEGOTIATION
? you will find some key issues to consider when negotiating and implementing structured settlements.
About the Author
Visit http://www.nirob.com
Source: http://www.mintsl.com/archives/445
nike nfl uniforms ben and jerrys free cone day tornado in dallas texas the island president the maldives harper lee mega millions numbers
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.