Lifetime Security








It's one thing to win a big settlement in a lawsuit. It's a whole other matter to manage that money the right way to make it last.

That's why there's a growing trend in legal circles to use structured settlements with sizable lawsuit payouts. Instead of a lump sum payment, the settlement can be arranged to provide regular income for the victims for 20 years or more. The advantage for injury victims or other lawsuit victors is that the structured settlement give them greater long-term financial security by assuring them a stream of income for many years.

That helps ease one of the main risks of lump sum settlements: That the victim spends or invests the money unwisely and blows through their nest egg in a matter of years, leaving them with continued medical expenses or other costs, without a steady source of income.

"Instead of getting $1 million in cash, they're getting lifetime security," said John T. Bair, the president of Forge Consulting, a Buffalo structured settlement company that opened earlier this year.

They also get a major tax break. Under the current law, passed 20 years ago to give beneficiaries who won big payouts after being severely injured or disabled a big incentive to use structured settlements to guarantee them a long-term source of income, the payments are free from federal and state taxes.

The settlements can be structured any number of ways, from simply providing a steady stream of income, to giving the victim a portion of the award as a lump sum and putting the rest toward a structured settlement, or arranging it so larger sums are available at certain points in the future, such as when a child's college tuition bills will come due. Most settlements are invested in annuities.

"A structured settlement can tie into your life in ways that no lump sum can," said Randy Dyer, executive vice president of the National Structured Settlements Trade Association in Washington, D.C.

Structured settlements also have gained popularity as a less expensive way for insurance companies to settle lawsuits, since $1 million paid out as a stream of income over 20 years is less costly than $1 million paid out in a lump sum.

"What a structured settlement does is allow greater flexibility," Dyer said. "It bridges that gap (during settlement negotiations) between offer and demand."

As a result, more settlements are being made as structured settlements, with about $6 billion in annuity premiums written on the annuities issued as part of structured settlements last year, the trade group said.

While Bair said structured settlements can make sense for any award of more than $10,000 -- and for any payout involving a child -- the option becomes more common. A 1997 survey by the Insurance Services Office found that structured settlements were used by nearly 30 percent of all claims of $1 million or more, but less than 7 percent of the time on losses of $75,000 to $99,000.

Bair, a West Point graduate and former Army helicopter pilot, started out in the structured settlement business at the suggestion of a friend's father and opened the Buffalo office of a national settlement firm four years ago.

Bair, who grew up in Oregon and came to Buffalo after marrying Amy Foschio, the daughter of U.S. Magistrate Leslie G. Foschio, then founded Forge with three other partners, including Howard T. Saperston III, earlier this year.

Forge, which now has 15 employees and is based at 737 Main St., gets about half of its clients from court cases in Western New York, but the company also has offices manned by other partners in Georgia and Mississippi to expand the firm's reach. The firm also has an office in Oakville, Ont.

The key to getting business is establishing relationships with lawyers, which is why Forge is active in legal trade groups and organizations.

That approach also helps the company gain exposure in national legal circles while keeping its base in Buffalo.

Bair said Forge, which mostly works with injury victims, ideally prefers to get involved in a case in the early stages, even when it's far from certain that a case will produce a substantial damage award. The firm typically receives a 4 percent fee.

"We're the settlement adviser and lay out the choices for them so they can make a good choice," he said.

"It's about taking these people through a life planning event," Bair said. "You try to coach them into something that is going to serve them well."

A bill signed into law earlier this week by Gov. George Pataki allows structured settlement firms to waive their commissions on agreements crafted for the families of victims from the Sept. 11 terrorist attacks. More than 50 consultants, including Forge, have agreed to handle 9/11 settlement cases for free, Bair said.

"This is not about sales," he said. "It's about doing what's right."

Property Valuation 101 - Real Estate Notes

The due diligence process can be summed up in four easy parts:

the credit score of the borrower
clear title policy to the subject property
current pay history on the loan and
the value of the subject property
Let’s talk about property values. Specifically residential property values.

Our standard guideline is that we get a bpo (broker price opinion) on every deal we purchase. We do this at our expense. Brokers are not required to provide us with appraisals or bpos. The only exception to this guideline is on deals with less than three payments made. In those cases we do require the brokers to provide us with full appraisals and we get a bpo as well.

A bpo on the subject property provides us with the necessary information we need to determine if the property’s current market value is what was represented when we quoted the loan. It is important for the broker to know what information from the bpo we review during the due diligence process.

Here are the five key factors we review on all bpos.

Comparable sales and listings – it is important that the sales comps used are the most recent (six months old or less) and the closest in proximity to the subject available. For example using comps 2 miles away in a metropolitan market like Houston is a red flag. In markets like this, comps need to be in the same immediate neighborhood.

Neighborhood information – this provides a description of general market conditions such as normal marketing times, market trends (i.e. improving, stable or declining), and a description of the general area, including any boarded up houses in the vicinity.

Condition of property – notes any recommended repairs, as well as whether the subject property is currently vacant or occupied, and notes if the subject is currently listed for sale.

Photo – As they say, “every picture tells a story”. We can tell a lot about the pride of ownership and how the property is maintained just from the photos.

Value – bpos usually provide both a current estimated market value as well as a quick sale value.

Similar information is provided on appraisals as well. My advice to our brokers is to review these five factors on any bpo or appraisal that you order. If something jumps out at you and throws up a red flag, then address it up-front with the agent who did the report. Any explanation you can get that helps offset a concern will only help more of your deals fund

Marketing for Cash Flow Business in the Area of Bankruptcy

Developing a Database of Lawyers
I receive many calls from brokers all over the country wanting to know how to develop bankruptcy business. I explain that "bankruptcy" is not a cash flow. Rather it is an opportunity to buy and broker cash flow assets that span the entire cash flow industry.

Let's get something straight right from the beginning. You don't have to be a lawyer to work in this cash flow opportunity. When I deliver talks on bankruptcy opportunities, the first comment made is "You’re an attorney. You’ve got that market all tied up.” There are 7,500 lawyers in the Greater Kansas City area. To think that one lawyer can dominate and control that community of lawyers is not realistic. Everyone knows a few attorneys, and what better way for cash flow consultants to begin their marketing efforts than to contact and network with professionals they know? Call those attorneys. Let them know what you do, and ask them for the names of lawyers who specialize in the area of bankruptcy.

In addition, you can call the local bar associations and ask if they have bankruptcy committees or creditors’ rights committees or workout sections. After they identify the existence of the committees, ask them if you can get rosters of the attorneys who belong to those committees or, better yet, ask them if the list is on computer disk. You may have to pay something for that information, but it is worth it.

The Yellow Pages are a wonderful source of identifying lawyers who specialize. Remember, you are interested in any specialty that deals with financial problems. Furthermore, you know that if someone is advertising in the Yellow Pages, he is serious about his specialty.

Do you see how we are developing a database? In most major cities, there is a business newspaper. In Kansas City, it is called The Business Journal. In addition, we have local papers that identify all of the “illegal events" that have occurred each week. Our paper is called The Daily Record, and it lists every bankruptcy filed and the lawyers who filed the bankruptcy. Our paper also lists every real estate transaction and the financing source, including private note holders.

The three basic principles of marketing tell us that our database should be cost effective, targeted, and manageable. Having met the first two criteria, let's now concentrate on being effective in using the database that we have developed.

Marketing Your Services to Lawyers in the Bankruptcy Community
I have developed a five-page marketing piece on our letterhead that explains who the principals of our company are and something about our background. Keep in mind that our company consists of my wife Sharon, who is a real estate agent, and me, the lawyer. It is very important to identify yourself and give the professional with whom you are trying to network information on your background. That is creditability. The information does not have to be gaudy but it should be factual. An education and business background in the cash flow industry establishes your ability to work with that professional you are soliciting. (Remember the document I am describing can be used with all professionals and not just with bankruptcy lawyers. It has universal use for all marketing areas.)

The next four pages of this marketing piece describe the different cash flow opportunities where we can help the professionals. After categorizing the type of transaction, I give a brief description of a characteristic deal and what we can accomplish for the professional’s client. This listing is not intended to cover all possible cash flow transactions. Rather, it highlights many deals and leaves the impression that there are many more potential deals available. In fact, I wind up this marketing presentation with a phrase I have coined for the industry: “The only limitation in the cash flow industry is your imagination.”

As I indicated, this marketing piece is printed on our letterhead. Therefore, the cost is quite reasonable. You can take the original to a copy shop, and, for a modest amount of money, have a significant supply of advertising pieces. It looks professional and doesn't cost as much as a brochure. And, as I previously stated, you have an advertising piece that can be used in all your prospecting efforts.

Now that you have your advertising piece, it’s time to use it. You have developed your database of bankruptcy attorneys, and now you are going to prepare a short cover letter introducing yourself to those professionals. When completed, the letter is merged with the database, and a personalized letter accompanies your marketing information. Do you see how the marketing piece can be used universally? My example deals with bankruptcy attorneys. I also network with divorce lawyers because I buy second mortgages generated in divorce cases. Sharon networks with REALTORS® who can be taught to increase their productivity through seller produced notes. The examples of networking are unlimited but all work around the same marketing document and a cover letter.

The communication to the bankruptcy lawyers (or other networking groups) should be followed up with a telephone call within one week. That call is mandatory. It confirms that the professional has received your mailing and hopefully has read your information. This process should tell you that you should not send out 100 mailings each week. Your mailings should be manageable so that your results are effective. Only you can determine the number of follow-up calls you can fit into your schedule each week. Remember, the follow-up call is very important, so don't take on more than you can handle. It would be much smarter to send out fewer letters over a longer period.

When I speak on the telephone to the professional, I suggest a face-to-face meeting. If your budget allows for it, take the person to lunch or meet for a power breakfast (I have no idea what a power breakfast is, but the term is bandied about an awful lot). If that is not possible, I tell the professional, "I would like to take l5 minutes of your time.” Some professionals will set up a time to meet with you while others will tell you they will call you when something comes up, and they have a need for your services. Either way, you have made it to second base.

What do we want to tell the bankruptcy attorney when we communicate with them? We want to remind them that occasionally they will have an individual who has to file bankruptcy, but has a non-exempt asset that needs to be sold before the bankruptcy is filed. If that asset is not sold, the debtor forfeits his interest to the bankruptcy trustee. If the asset winds up in the hands of the trustee, the cash flow professional gets a second bite of the apple. The trustee will probably want to sell that asset. The difference is that the bankruptcy trustee has three fiduciary responsibilities to sell the asset for as much money as he can rise. He represents the creditors, and the creditors are the beneficiaries of the trustee’s efforts. Bottom line — a bidding war can ensue. I have been offered the opportunity to participate in this process, and I can attest that your potential opportunities will be minimized. It is in your interest to create your opportunities before the bankruptcy is filed by establishing your networking relationships.

The scoring run (remember we were on second) occurs when you follow the "rule of seven.” Simply stated, you send follow-up post cards for the next seven months. The postcards give your company name and remind the recipient that you buy cash flows. Marketing experts will tell you that by the time the professional has received the seventh postcard, you and your company are a permanent part of the professional's mental database. With computers, this process has become very simple.

While this marketing technique may seem arduous, it works. Remember, nothing that is worthwhile in this world comes without some effort. Eventually, the professional will call and tell you he has a deal for you.

Types of Business You Can Develop
The types of business you can generate in the bankruptcy area span the entire cash flow industry.

The first deal I ever did was a contract for deed (land contract) that was owned by a bankruptcy trustee. A total of 115 payments remained at less that $100 each month. The trustee's motivation in selling this cash flow was that he wanted to close the bankruptcy estate and conclude the file.

Earlier, I told you that bankruptcy trustees are lawyers who also practice in the bankruptcy area. The same lawyer (trustee above) in his private capacity as a debtor's attorney has sent me five additional deals from the private sector. We have sold and purchased for our own portfolio structured settlements, lottery winnings, mobile home notes, real estate notes, and land contracts. Those of you who heard my presentation in San Francisco know that I encourage you to consider buying these cash flows for your own portfolio. For the most part, these cash flows are small, most falling in the $25,000 or less range.

There is generally good seasoning. The payors are not the cause of bankruptcy. However, the major reason I encourage you to look at these cash flows for your own purchase is that the sale is motivated by time (how soon can you get this done?) as opposed to price.

Remember, if it is sold, the asset winds up belonging to the trustee. Therefore, you can buy the cash flow for yields that will make you very happy.

Chapter 11 Bankruptcies
You have all been exposed to the news that a particular company has filed Chapter 11. What exactly does that mean and what are your opportunities?

Without trying to give you a legal education, a company files Chapter 11 to put its creditors in a holding pattern, while the company tries to develop a plan of reorganization. This process can take from six months to three or more years. The plan of reorganization has to pass mustard with the creditors’ committee and most of all with the bankruptcy judge.

How do we fit in the picture? By definition the company has filed Chapter 11 because it does not have good cash flow. This offers a great factoring opportunity with companies who create business receivables. Why? Because everything is done under court order, and the court can create super priority positions, setting aside or superseding security agreements and UCCs, thereby allowing the Chapter 11 corporation the ability to enter into financing arrangements and protecting the factor's purchase of accounts receivable. I encourage you to make sure that your factoring company understands how to work within the framework of the bankruptcy court.

This past year our industry has been introduced to real estate refinancing and originations. Some of you may have heard of a bankruptcy term called "cram down.” Sounds technical, but basically a cram down occurs when the value of the real estate is less than the amount owed on the mortgage. The court crams down the secured position to the value of the real estate. The amount of debt over the value of the real estate becomes unsecured debt.

Generally, an unhappy creditor wants to divorce himself from the bankrupt company. On the other side of the equation, the bankrupt company may want to see what refinancing opportunities are out there. When the bankruptcy lawyer calls you, you want to be ready to bring the funding source to the table. There are funding sources that understand the bankruptcy area and know how to function within the rules. The bottom line is that there are opportunities that may surface, and you want to be ready to take advantage of them. If one of those situations arises, my recommendation is that you stay in the loop, not as an advisor (let the professional handle the action) but as an observer. You can learn a lot that may help on future deals.

This area provides every one of you with wonderful opportunities. Start marketing yourself to bankruptcy lawyers. You will find the results rewarding.

Howard S. Levitan, DCFS, a member of the Million Dollar Club, is president of Diversified Cash Flow Specialists. He is also a practicing attorney in the Kansas City area.

Seller Take-back

Not all real estate transactions involve a bank or a mortgage broker. Sometimes the seller becomes the lender to the buyer.

A seller take-back is any transaction in which the seller loans money to the buyer to close on a piece of residential real estate.

The amount of the down payment from the buyer and the mortgage to the seller isn’t negotiable between the buyer and seller.

Typically, the down payment to a seller is 10 to 35 percent of the purchase price to provide the seller with funds in case of default.

The mortgage amount can be for the remainder. Another option for the buyer is to get a conventional loan for a large portion of the purchase price and to finance any remainder through the seller.

Seller take-backs, also known as seller financing, are used in many situations. For example:

- When the seller’s property doesn’t conform to conventional loan guideline

- When the seller is at a tax disadvantage to collect the proceeds at one time

- When competition from similar properties is great

- When the borrower doesn't qualify fo rconventional loan servicing.

Dean Coe, a broker/owner of a Coldwell Banker franchise in Winthrop, Washington frequently represents sellers who wish to finance their own properties.

“We have a lot of resort and recreation property in this area,” explains Coe.

“As interest rates rise and funds are more difficult to find, sellers are more likely to go seller financing.”

Many of the properties around Winthrop, popular for year round sports from golf to skiing, are ideal for seller financing because they’re outside of traditional lender guidelines.

“Lenders don’t like to value properties in which the land is more than the improvements,” says Coe.

“That includes get away properties such as ranches and farms.”

BROKERS

The topics of broker assistance and compensation have been discussed at length in recent months. In late December this debate became heated when John Darer, a settlement planning consultant from 4structures.com, LLC went head to head with Rhonda Bentzen, a structured settlement factoring broker doing business as Bentzen Funding Solutions.

The debate between Darer and Bentzen revolved around whether or not it is acceptable for you as a settlement planning consultant to charge a fee when you refer clients to a factoring company. On this topic I would have to agree with Bentzen that it is not unethical, per se, for a structured settlement planner to charge such a fee provided such fee is reasonable in all of the circumstances. My reasoning for this is as follows.

Similar to Bentzen, I have been on both sides. I was a life and annuity sales agent for four years. I had created countless annuities for my clients and on occasion when their financial positions changed I was asked to help them find a way out of their annuity. This happened often enough that I found out about the structured settlement factoring business and eventually changed my orientation when I started Sovereign Funding Group in 2002.

Firstly as an insurance and annuities agent and now in the structured settlement factoring business, I have always put my clients’ best interest first. I think that it is reasonable for a structured settlement planner or an insurance and annuity representative to be compensated for his or her professional assistance to clients when seeking out a reputable factoring company and assisting with the sale details.

Where I disagree with Bentzen is when she states in her December 21, 2007 post that “…The referral fee ultimately saves the annuitant money and comes out of my pocket”. That statement is simply untrue. Contrary to her assertion, any fee charged adds to the overall sale costs and impacts the best price available to the client in the marketplace.

In light of the recent controversy I think that it is important to provide some guidance to structured settlement planners and annuity company representatives who want your clients to make an informed decision that best serves their needs, gets them the most money for their annuity as well as the fastest, most professional service.

1. There are many circumstances when a structured settlement may no longer be appropriate for your client. Times change. Your client’s assets must be flexible to weather these changes.

2. You have taken great care to design a structured settlement that best suits your client’s needs. The factoring company you choose to advise on the sale of your client’s annuity should take the same care in deciding:

(a) is a sale appropriate in the circumstances, and if so what compliment of payments ought to be sold;
(b) what is the best price available for these payments;
(c) what is the most expedient court process to complete the sale?

3. Each sale requires court approval based on the best interest test of the annuitant and any dependants.

4. Purchase price and service level can vary widely between factoring companies. Just as you would get competing quotes for structured settlement annuities, you should get at least two quotes from competing factoring companies.

5. Your client will generally get more money and better service if you consult with a factoring company that specializes in the insurance field and has legal expertise to complete the transfer process rather than a general buyer of receivables or an intermediary who lacks control of the transfer or funding process.

6. You should monitor the average length of time the factoring company you choose takes to complete the transfer process and disperse funds to your client. The benchmark is six to eight weeks. Unexplained delays beyond eight weeks will cost your client money.

7. Throughout the transfer process the factoring company should keep you and your client informed of the benchmarks and be proactive in resolving legal issues that may arise.

8. In the case where your client decides to sell only partial payments, be careful that your client does not agree to sell all payments in return for the factoring company servicing the remaining unsold payments back to your client. Servicing arrangements could jeopardize your client’s recourse against an annuity issuer in the event of a default. Furthermore, your client may not be able to sell the remaining payments at a future date if they are serviced by a factoring company.

9. It is acceptable for you to be compensated for your professional assistance to your clients and referral to a reputable factoring company. You decide. However, contrary to some assertions made in blogs, any fee you charge will impact the best price available to your client. You should be careful that your fee is reasonable in all circumstances.

Sovereign Funding Group has specialized in buying structured settlements for 6 years. We offer plaintiff brokers:

1. the benefit of six years of experience in buying insurance annuities and in-house legal expertise to make sure the transfer process is completed in a timely manner.

2. the most money for your client’s annuities by requiring our investors to compete for each case thereby establishing the best market rate.

3. the fastest service by guaranteeing your client a price quote within two hours of contact and sale documentation delivered the same day.

Factoring Company Sales Tactics to Avoid

Some companies who offer to buy structured settlement payments on the secondary market (factoring companies) engage in the following practice:

1. Make a low ball offer and test whether the seller will accept or shop for a better price.

2. If the seller shops and receives a better offer they will make a counter offer higher than the highest offering price and drag the completion of the case out several months so as to recover the lost profits through interest drag.

Interest drag is the widening spread between the fixed purchase price payable to the seller and the floating sale price set at transaction completion with the investor or securitizer. This spread can be significant, and sometimes more than $100.00 per each day that the transaction remains uncompleted. If a case is dragged for an extra 2 months, that would amount to an extra profit of $6,000.00 due to the factoring company.

Unfortunately this tactic is employed by many structured settlement factoring companies. As a first line of defense make sure that the company that you are obtaining a quote from are members of the Better Business Bureau and have no complaints.

At Sovereign Funding Group we deplore such tactics. We not only offer the best price upfront to the seller but we also offer a Closing Guarantee* whereby if a transaction takes longer than 8 weeks to close we will guarantee the per diem interest drag by way of a additional payment due to the seller at completion of the transaction.

Determining the Optimal Payment

After you have carefully thought through the ramifications of selling your structured settlement payments there are three factors that must be considered when determining what is the optimal payment set to be sold in a structured settlement annuity:

1. What are the immediate and medium term cash needs of your client?

2. What are the fixed costs of the sale and transfer?

3. What are the long-term financial planning goals?

Below I'll discuss each of these factors.

1. It is important to accurately assess how much cash is required by your client now. Often clients will underestimate this need and then have to resort to a further partial sale of payments in six months to a year thereby doubling the processing costs. It is better to overestimate the immediate and medium term needs to avoid double cost penalties.

2. There are significant fixed costs associated with a sale and transfer of structured settlement annuity payments. These costs include transfer legal fees and court costs, independent professional advice fees (mandatory in some states), insurance company transfer fees (ranging from $500 - $800 in most cases), lien search costs, courier costs, and wiring fees. Depending on the state and insurance company involved, often the total fixed costs can exceed $3,000.00.

When considering splitting a payment (partial to be sold while balance to be retained) it is important to understand that insurance companies have the right to object to such a transaction. As well, some insurance companies charge double the transfer fee as they must now make two payments instead of one.

The discount rate obviously goes up when the fixed costs comprise a greater proportion of the present value being sought by your client. This provides another reason for your client to generously estimate the funding amount they require now so as to spread the fixed costs over more payments being sold.

3. In many structured settlement cases the long-term care or retirement of your client was considered when designing the original payment stream. If the seller is currently working but planning to retire in a few years, it may be better to sell the immediate payments and keep the future payments to supplement retirement cash needs. On the other hand, further out payments fetch a lower discount rate so it may be more financially beneficial to sell them first.

Second Quote on the Sale

On April 2, 2008 DealFlowMedia.com and on April 4, 2008 Structured Settlements 4 Real Blog discussed a New York structured settlement factoring case in which the Court denied a request by Settlement Funding of New York LLC “Peachtree” to buy three lump sum structured payments for a net price of $9,517.07 or 19.9% discount rate. The Court concluded that the transaction was not in Eric R. Lindsey’s best interest.

Sovereign Funding Group would have offered a net price of $39,802.00 for the same set of payments.

This case represents another example of how important it is for prospective sellers to get a price quote from Sovereign Funding Group before making a final decision to sell.

Sovereign Funding Group offers the best price upfront and routinely makes offers in the 8% to 9% discount rate range.

Structured Settlement Sellers Beware

We have recently become aware of a sales practice employed by some structured settlement factoring companies, including Settlement Capital, J.G. Wentworth, Stonestreet, Peachtree and others as follows:

1. Annuitant wishes to sell only part of their structured settlement
2. Factoring company offers to buy the partial payments but sale contract provides for ALL of the payments to be transferred to factoring company and factoring company then becomes responsible for paying the unsold payments to the annuitant as and when paid to factoring company (“servicing”).
3. Annuitant then is solicited to sell the balance of the payments at a later date.
4. When or if the annuitant decides to sell later, factoring company lowballs the offer and is a captive because other factoring companies are loath to buy payments being made by their competitor.

When selling partial payments, you should be aware of this practice and avoid it.

Once payments are transferred to the factoring company you lose the benefit of an A-AAA rated insurance company being responsible for making the payment to you with all of the tangible benefits associated therewith and become dependent upon the factoring company to make the payment to you. Also, you lose the benefit of being able to have factoring companies compete for any subsequent sale because many companies may not want to rely on a competitor to pay them.

At Sovereign Funding Group we only take assignment of those payments which we buy, entitling you to receive the balance of the payments directly from the insurance company as originally bargained for.

The REAL Truth About Servicing

1. No annuity issuer in the structured settlement writing business has ever refused to permit an annuitant to sell only a portion of periodic payments (ie 100 of 250 payments) or sell just lump sums or periodic payments in a mixed payment scenario.

2. To our knowledge, only one annuity issuer out of approximately 39 issuers who write structured settlements refuses to “split” individual payments (ie refuses to cut two checks if the annuitant wishes to sell only $400.00 of a series of $1,000 monthly payments.) The other 38 annuity issuers permit such splitting.

3. In the limited circumstance where the annuity issuer refuses to split, our company arranges for an arms length, independent and bonded servicer to service the payments. We do not service the payments ourselves as we believe such is a conflict of interest.

The bottom line is that companies that engage in routine servicing do so with the objective to eliminate competition and low ball offers to annuitants who later want to sell the remaining payments. The practice is extensive and long-standing and the fact that a company like Settlement Capital (whom we have proof has serviced payments in a #1 scenario above) is trying to defend its practice suggests that Cravenho and Darer have hit a raw nerve.

Written by David Springer the president of Sovereign Funding Group. Sovereign Funding Group is an experienced, reputable company that offers convenient, no-pressure services to help individuals with the selling of their deferred structured settlement payments.

Cash for Annuity Payment

Sovereign Funding Group will purchase all or a portion of your annuity payments and pay you a lump-um amount of cash now.

Why not cash in your payments? If you wait out the terms of your payment plan, inflation will eat away at the value of your money the longer it takes to be paid out. A cash payout of your future annuity payments is an excellent hedge against the depreciating effects of inflation.

A lump-sum cash payout is an excellent substitute over future annuity payments if you cannot afford to wait out the current terms of yours annuity payments.

Discover how you can sell your annuity payments for cash.

Cash for Structured Settlement

Cash for Structured Settlement
Personal injury claims used to be settled merely by exchanging a sum of money for a release of the claim. In contrast, a Structured Settlement goes beyond an immediate cash payment and provides future payments "structured" over time to meet a person's ongoing financial needs. A structured settlement may provide payments for a certain period of time or extend throughout the lifetime of the injured person.

Why Structure a Settlement?

Security
A structured settlement removes the injured party from the burden and risk of investing and managing a large sum of money. It reduces the possibility of exhausting all the settlement funds while needs still exist.

Tax Exemption
All benefit payments received in a structured settlement of a workers' compensation or physical injury claim are exempt from federal income tax under current tax law.

Flexibility
Short term or lifetime plans can be designed because of the flexible nature of a structured settlement.

Income
Because an injury may affect future earning potential, a structured settlement has the added benefit of replacing a portion of these funds. If lifetime benefits are designed, a person eliminates the worry of outliving his or her income.

Stability
Our administrative experience and financial strength provides both stability and peace of mind for the injured person and their family.

How Does a Structured Settlement Work?
You have decided prior to the settlement of your claim that you will receive payments through a structured payout. You or your attorney negotiate with the person or company you are making a claim against (the defendant) to agree on what future payments will be. The defendant funds his/her payment obligation to you by buying an annuity with a payment stream that matches the agreement. The life insurance company that issues the annuity makes the payments directly to you when they are due.

Sometimes defendants transfer their payment obligations to a third party through an assignment agreement. The third party (the assignee) has the sole obligation to pay you, and will buy and own the annuity. This assignment is an advantage to you because the assignees have extensive experience in handling the administration of structured settlements. The assignee can be more responsive to your questions and servicing needs.

Before entering into a structured settlement, make sure the life insurance company issuing the annuity is financially sound and will be there to make future payments. Most people have neither the time nor the resources to thoroughly research the financial condition of the company. There are, however, several rating companies who specialize in this analysis. Their evaluations are a good source of information regarding the strength and dependability of life insurance companies.

SFG and Structured Settlements
SFG was one of the early entrants into the structured settlement market and remains committed to our clients. Recognized as a leader in the structured settlement administration, the quality of our service has become a standard in the industry.

With our strong financial position, experienced management and balanced investments, SFG is a solid choice for funding your structured settlement.

Loans to Attorneys with Structured Fees

More and more attorneys are taking advantage of a new product available through structured settlement brokers and settlement planners – the structured attorney’s fee. In a nutshell, attorneys are able to take large fees over time instead of in a lump sum. Done correctly, this structuring will provide excellent financial and tax planning. “Bust or Boom” cycles can be evened out, and income taxes are only due in years when the payments are received. Structured settlement commentators like Jack Meligan, Mark Wahlstrom, and John Darer have discussed the rising use of "non-qualified assignments" for structuring legal fees and other non-personal injury damages.

What about liquidity if and when needed? What about the unplanned crises where more money is needed?

Settlement Capital can provide loans to qualified attorneys with structured fees. These are not governed by state structured settlement transfer laws or IRC 5891, so no court order is required (ordinarily). For more information, please watch this video interview with Mark Wahlstrom.

Structured Settlement Professionals

Settlement Capital Corporation is the most knowledgeable and dependable structured settlement factoring company in the industry. With over 18 consecutive years in the business, we have seen our industry evolve into a stable regulated business. We have found that information is hard to obtain so we have dedicated a significant portion of our website strictly to education about the settlement factoring business.

The passing of the federal law HR2884 which became IRC 5891 was monumental in establishing our industry’s credibility. This law validated our industry and helps plaintiffs gain access to their structured settlement annuity payments. It also clarified that transfer sales are completely tax-free for both the annuitants and the annuity providers.

IRC 5891 (HR2884) mandates judicial oversight by the individual states including court approval of all transfers and their focus on the annuitant’s best interest. SCC has successfully helped develop these laws and continues to promote laws that protect consumers rights.

While 46 states have transfer laws in place, SCC continues to work to enact new laws in the states that have not passed transfer act laws. Our Legislative update will keep you abreast of legislative changes and proposals. We will also keep you informed of any other legislative efforts regarding the structured settlement factoring industry.

Our podcasts will provide you with a different form of communication. Through audio feeds, we will give you concise updates and information. The podcasts will cover a spectrum of topics regarding the structured settlement factoring industry and Settlement Capital.

Settlement Capital is and has been associated with many different organizations throughout the years. These organizations all bring a certain dynamic to their specific part of the Structured Settlement Industry. Anyone interested in and/or involved in the structured settlement business should be aware of the following organizations:

National Association of Settlement Purchasers (NASP)
National Structured Settlement Trade Association (NSSTA)
Society of Settlement Planners (SSP)

Life Settlement

Has your life insurance outlived its original purpose? Are the premiums becoming a burden? Are you thinking about letting it go, or surrendering it for its cash value?

Life insurance is one of the most widely held investments in this country. But sometimes, the reasons for keeping a policy change - the death of a beneficiary, retirement of a key employee, divorce, changing financial circumstances, or simply a desire to travel or enjoy life more fully.

If you qualify, you may be able to turn that old policy into cash - far more cash than the surrender value of the policy. Cash to enjoy the rest of your life, to take care of medical expenses, replace expensive coverage with a more cost effective alternative or buy long-term health insurance. Cash, for whatever you want or need.

Life Insurance is considered to be personal property and may be acquired or liquidated just like real estate, stocks or bonds. If you presently own a life insurance policy, you have the ability to transfer all your interest in that policy to a third party for a cash consideration.

If your policy is not meeting projected values or premium requirements leave the possibility of a policy lapse, why not exchange that asset before you lose it! A Life Settlement transaction provides policy owners with immediate cash alternative for a policy that will soon have no value through surrender or lapse.

What types of insurance qualifies? Whole life, Universal Life, Variable Life, Survivorship/Joint First To Die, and Adjustable Life are just some examples of the types of policies that may be acquired. The face value minimum of the policy must be $100,000 with a company rating of B+ or higher. The policy insured should be 70 years or older, although we will also consider any life policy where the insured is living with a serious illness.

Why do a Structured Settlement

A structured settlement’s most important advantage is security. The structured settlement provides long term payments that are guaranteed by a life insurance company.

Another advantage that a structured settlement provides is its tax-free position. All payments made via a structured settlement are nontaxable by federal tax guidelines (IRS Section 104(a)(2). 100% of every payment is tax exempt.

The structured settlement allows the injured party to tailor payments over his or her life. There is no need to meet periodically with an investment or tax advisor. Payments are decided during the initial settlement and then are directed to the injured victim. It gives peace of mind, security, and confidence over the long term.


Patriot Settlement Resources offers a lump sum cash option for structured settlement recipients whose financial situation requires them to access future payments now. We structure our transactions based on the financial needs of each individual client. We can purchase all or part of your remaining payments for a lump sum payout.

Structured settlements funded with United States Treasury Obligations

Structured settlements funded with United States Treasury Obligations can provide claimants with a greater degree of security than annuities for those that are most conservative. Is there a greater level of financial security than an issuer than has the financial strength to effectively write a $700B check and print money?

Internal Revenue Code Section 130(d) states that the term "qualified funding asset" means any annuity contract issued by a company licensed to do business as an insurance company under the laws of any State, or any obligation of the United States.

United States Treasury Bond Trust Structured Settlements are certainly worth a look.

Plaintiff lawyers should not simply avoid a structured settlement due to global financial uncertainty because such a decision could have life impacting consequences to a tort victim. This is because that once a release has been signed (either with a defendant, insurer or qualified settlement fund trustee) the tax benefits of a structured settlement are forever lost.

A United States Treasury Bond Trust may be used alone or in conjunction with an annuity structure. Like annuity structured settlements, payments from a "T Bond Trust" structured settlement can pour over into a settlement preservation trust or other recovery management trust.

There is a trade off to the added security offered by using a United States Treasury Bond Structured Settlement, the yield is generally lower than annuity structured settlements. Innovative T-Bond trust providers however, use a combination of Treasury Inflation Protected Securities (TIPS) where the bond's underlying principal rises and falls with changes in the inflation rate ( currently the CPI-U), and STRIPS to guarantee deferred lump sum payments. Interest paid on the TIPS adjusts along with the principal.

structured settlement annuity compete in the current interest rate environment

Structured settlement annuity yields remain competitive to other alternatives, even in cases where there is no lifetime payout. Even if you don't need lifetime income, a fixed income investment may be part of, or may have been recommended to be part of, your portfolio.

So let's illustrate a structured settlement in which the payment flows are modeled after a fixed rate bond held to maturity. Generally the issuer of a bond pays to the bondholder a yield until maturity and then, the bondholder receives back the amount invested or principal. Listed below are internal rates of return on structure simulations of several types of 10, 15 and 20 year bonds and the corresponding yield on the bond that is being simulated. Once again, for this illustration, the bonds are assumed to be held to maturity.


10-year Simulation
10 Year U.S. Treasury 2.75% taxable
10 Year AAA tax-exempt municipal 3.16% tax-exempt
Structured annuity from A+XV Best's rated company simulating same cash flow 4.53% tax-free*



15- year Simulation
15 Year AAA tax-exempt municipal 4.16% tax-exempt
Structured annuity from A+XV Best's rated company simulating same cash flow 5.04% tax-free*



20 year Simulation
20 year US Treasury 3.91% taxable
20 year AAA tax-exempt municipal 4.65% tax-exempt
Structured annuity from A+XV Best's rated company simulating same cash flow 5.33% tax-free*


Lifetime structured annuity payments, which may incorporate rated age pricing, may have even higher yields than those shown above. Unlike bond payments, structured annuity payments can be customized. For example, while bond payments are traditionally paid on a semi-annual basis, the structured annuity payments could be paid monthly, quarterly, semi-annually, annually or even bi-weekly! They can also be immediate or deferred and have increasing payments

Sources:
For T-Bond rates: Federal Reserve Statistical Release H.15. For Municipal Bond rates: Bloomberg.com. Rates as of 02/17/2009 used for illustrative purposes only. Structured annuity rates, based on "book" rates available during the week of 02/17/2009, using John Hancock Life Insurance Company, New York, NY rated A++XV AM Best, Aa1 Moodys AAA Standard & Poors for illustrative purposes. Actual rates subject to change and should be shopped and custom quoted to reflect your specific needs, something we do at 4structures.com, LLC as part of our service to you.

Note: All references to "tax exempt" or "tax-free" in this illustration refer solely to the income tax treatment to taxpayers in the United States of America.

IRR= Internal Rate of Return

Structuring Your Legal Fees or Attorney Fees

1. Structuring attorney fees or legal fees over several years, or even deferring them out further, may help attorney taxpayers avoid a higher marginal tax bracket, allowing the money saved (resulting from deferred current income taxes) to be invested at little to no risk with no initial or ongoing money management fees. The attorney receives a 1099 in the year in which structured attorney fee payments are received.

2. Provide a source of guaranteed income to the attorney or law firm to match up against future expenses. Structured attorney fees can be fully customized. You define your future without the market risk

3. Attorneys OR law firms can smooth out future cash flow.

4. Attorneys or law firms can effectively achieve the results of a qualified pension plan without the annual administrative and regulatory burden required of employee benefit plans.There is no need to wait age until 59 1/2 before receiving distributions.

5. Structured Legal Fees or Structured Attorney Fees are not subject to annual qualified pension plan contribution limits. Getting close to retirement and need to catch up? If you have the cases, this is one way of doing it.

6. Provide a source of funds for future buy-sell agreement.

7. Payments may be exempt from creditors. For example, the ruling In re John J. Lynch, Debtor, 321 B.R. 114 (S.D.N.Y., Feb. 10, 2005) found that that the CNA annuity from an attorney fee structure, which attorney.John Lynch accepted in settling a 2003 case, was not available to creditors in bankruptcy. Lynch filed for bankruptcy in 2004. When the Bankruptcy Trustee tried to use the annuity to pay Mr. Lynch’s creditors, Mr. Lynch resisted, arguing that to do so would pose a hardship on him.

Applying New York law, the U.S. Bankruptcy Court sided with Mr. Lynch and ruled that the annuity was exempt from the reach of creditors. A similar conclusion under Louisiana law was reached in Canfield v. Orso, 283 F.3d 686(5th Cir. 2002). In that case, the Court of Appeals for the Fifth Circuit also held that an attorney fee structure was beyond the reach of the attorney ’s creditors.

These rulings are helpful but readers should realize that each state has its own bankruptcy exemptions that might be applied to reach a different result.

8. On cases with certain types of taxable damages you can help mitigate your clients' exposure to the alternative minimum tax (AMT) in the tax year of the settlement.

Example: to Fund Retirement: Structured Attorney Fees with cost of $ 175,000*

Structured legal fee plan designed to fund retirement in 20 years, either a guaranteed lump sum of $574,835.88, or, starting in 20 years, payments of $3,850.30 per month ($46,203.60 annually) for life, with 20 years guaranteed to be paid whether or not the attorney survives the payment schedule.

*example assuming 45 year old male and book rates of an A.M. Best rated "A+" annuity issuer available during the week of June 13, 2008 for illustrative purposes. Some structured annuity issuers offer a joint and survivor payment option.
Related Tax Information

The U. S. Court of Appeals for the 11th Circuit affirmed in Richard A. Childs, Et al. v Commissioner of Internal Revenue 103 T.C. No. 36 Docket No. 15639-92 (1)(2) that attorneys may structure their fees, holding that taxes are payable on structured attorney fees when the amounts are received. (3)

The Court held that the fair market values of the taxpayers rights to receive payments under the settlement agreements in the case were not includable in income under Sec. 83, in the year settlement agreements were effected, since the promises to pay under the structured settlements were neither funded or secured and thus did not meet the definition of property for purposes of Sec. 83 The Court further held that the doctrine of constructive receipt is inapplicable because the taxpayer had no right to receive the attorney’s fees prior to the time the agreement fixing a structured settlement was entered into.

Section 409A of the Internal Revenue Code (included in the American Jobs Creation Act of 2004) initially brought concerns of changes to the tax treatment of structured attorneys’ fees. However, on December 20, 2004 the Department of Treasury ("Treasury") and Internal Revenue Service issued comprehensive guidance interpreting new Section 409A. The guidance in Notice 2005-1 excludes most service provider arrangements from the scope of Section 409A. The Notice states:

A-8…Section 409A…DOES NOT APPLY to arrangements between a service provider and a service recipient if (a) the service provider is actively engaged in the trade or business of providing substantial services, other than (I) as an employee or (II) as a director of a corporation; and (b) the service provider provides such services to two or more service recipients to which the service provider is not related and that are not related to one another.

The guidance cautions that other tax principles may apply. Therefore careful planning must be done in advance should you wish to structure your attorney fees! There's no reason to feel intimidated by this, but don't wait until the last minute! We can help you. Call 4structures.com, LLC toll-free at 888-325-8640!

Generally an attorney or law firm can structure a portion (or all) of their fees when:

1. The attorney's or law firm's contingency fee agreement permits the structuring of all or a part of attorney's fees.

2. The attorney or law firm does not have constructive receipt of the funds

3. The guidelines set forth in the Childs case are followed

4. The requirements and/or guidelines of the issuer of the structured attorney fee annuity contract are followed.

Other critical issues to be addressed, arise out of the form of business under which the law firm operates and such issues (and their impact on the law firm or is partners or shareholder ability to structure legal fees) will vary from law firm to law firm.

It is also recommended that attorneys contemplating structured attorney fees or structuring legal fees consult with competent tax counsel prior to entering into a structured attorney fee transaction.

Footnotes

(1) Copy of Childs decision

(2) Copy of Childs appeal

(3) Although the Tax Court upheld the deferral of attorney fees in Childs, attorneys should be careful not to rely too heavily on it. The facts in that case are quite specific and the result reached in Childs should not be relied upon in cases that are materially dissimilar.

Structured Sales-Defer Capital Gains

An Installment Sale offers an opportunity for an eligible Seller to defer recognition of some or all of the gain on a disposition of qualified property. The qualified property, subject to the installment sale could be piece of highly appreciated real estate or property, or an interest in a business or professional practice. For a sale to constitute an Installment Sale, it must be a sale of qualified property where the Seller receives at least one payment after the tax year of the sale.1,2 Each installment payment received by the Seller consists of the following three components:

(a) nontaxable recovery of the investment
(b) taxable gain, and
(c) interest.3


A traditional Installment Sale arrangement has the Seller dependent upon the financial solvency of the Buyer for future periodic payments that the Buyer owes to the Seller. Since the Installment Sale permits the Seller to take payment in the form of a periodic payment, the Seller could potentially be at risk if the creditworthiness of the Buyer is suspect at the outset, or later deteriorates. In order to mitigate this credit/default risk, the Seller and Buyer can instead agree to consummate a "Structured Installment Sale" whereby the installment sale agreement provides that the installment periodic payment obligation will be transferred, by way of non-qualified assignment, to a third party special purpose assignment company and, will be funded with an annuity from a large, highly rated life insurer like Allstate Life Insurance Company, Allstate Life Insurance Company of New York, or The Prudential Insurance Company of America. This will help provide far greater assurance to the Seller that he or she will receive the future periodic payments when scheduled and achieve the intended tax deferral. ( **NOTE: Pru has temporarily suspended its distribution of structured sales annuities Dec. 2007)

II. Why Installment Sales?



Defers recognition of some or all of the gain
Guaranteed rate of return


III. Why Structured Installment Sales?:


Concern over buyer fulfilling installment payment obligation. Seller can rely on high billions (assets of Allstate Life Insurance Company or The Prudential Insurance Company of America) instead of thousands, millions or low billions (assets of buyer).
Concerns over investment risk for either party or no need to take risk.
Long term financial security for seller.
Better than stand by letter of credit, the "cash windfall" from which, if exercised, would provide security but would not help seller maintain his or her strategy to defer capital gains.

Words of Caution:

Be careful that the structured sales consultant you are dealing with is in fact a structured sales consultant and presenting you with a legitimate structured sales product. As the structured settlement industry has seen with the weak but pervasive "double entendre" promoted by certain settlement transfer companies, there is an attempt by some marketing charitable remainder trusts and IRC Sec. 1031 Exchanges to characterize what they do as structured sales in Internet advertising, when "the wires may not in fact be all be connected in the same way'. Avoid cases of mistaken identity.

1 Real or personal property sold by a dealer or a person who regularly sells property on the installment plan and property included in inventory do not qualify for the installment sale rules.Marketable securities are not eligible for installment sale treatment.Other restrictions apply.Please consult your tax advisor before entering into an installment sale agreement.

2 Special rules apply to non-dealers.Please consult with your tax advisor to determine whether those rules could impact your arrangement.

3 Please note that information provided on this page is not intended as legal or tax advice. Please consult with your attorney or tax advisor on whether or not an installment sale is right for you, and how to best structure such sale.

Rado Integral Ladies Wristwatch



Item number:R20488112
Brand:Rado
Style Number:R20488112
Series:Integral
Style:Ladies
Case:Silver Tone Ceramic
Dial Color:White
Watch Bracelet / Strap:Ceramic - Silver Tone
Watch Clasp:Push-button Double-Locking
Movement:Swiss Quartz
Crystal:Sapphire Crystal
Length:22.0 mm
Case Width:18.0 mm
Bezel Material:Silver Tone Ceramic
Bezel Function:Fixed
Water Resistance:30m / 100ft (suitable for splashing, light rain; unsuitable for swimming or diving)

Rado Integral Maxi Mens Wristwatch



Item number:R20456152
Brand:Rado
Style Number:R20456152
Series:Integral Maxi
Style:Mens
Case:Black Ceramic and Gold Plated
Dial Color:Black Analog/Digital
Watch Bracelet / Strap:Black Ceramic and Gold Plated
Watch Clasp:Triple Safety Titanium Clasp
Movement:Swiss Quartz
Functions:Hours, Minutes, Timer, Second Time Zone, Date, Day of the Week, Chronograph, Alarm
Crystal:Anti reflective Sapphire
Length:33.0 mm
Case Width:27.0 mm
Caseback:Solid
Bezel Material:Black Ceramic and Gold Tone
Bezel Function:Fixed
Water Resistance:30m / 100ft (suitable for splashing, light rain; unsuitable for swimming or diving)
Crown:18k Gold Plated
Calendar:Automatic Day and Date

Rado Original Mens Wristwatch



Item number:R12637303
Brand:Rado
Style Number:R12637303
Series:Original
Style:Mens
Case:Stainless Steel
Dial Color:Red
Watch Bracelet / Strap:Stainless Steel
Watch Clasp:Double-folding clasp
Movement:Automatic
Engine:ETA Caliber 2824-2 (25 jewels, 28,800 vph)
Functions:Hours, Minutes, Sweep Center Seconds, Date
Crystal:Sapphire - Scratch-resistant, faceted
Case Diameter:46.2 mm
Case Thickness:30.6 mm
Caseback:Screw-down stainless steel
Bezel Material:Stainless Steel
Bezel Function:Fixed
Water Resistance:100m / 330ft (suitable for swimming and shallow snorkeling; unsuitable for diving)
Crown:Screw-In
Calendar:Automatic Date between 4 and 5 o'clock

Rolex Watches















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The most popular luxury watch brand in the world decade after decade.

























Worn by celebrities and watch cognoscenti alike, it is a storied brand with an illustrious history.

Rolex Yachtmaster II Mens Wristwatch



Item number:116689
Brand:Rolex
Style Number:116689
Also Called:Yacht-Master II
Series:Yachtmaster II
Style:Mens
Case:18k Yellow Gold and Ceramic
Dial Color:White with Silver Subdial
Watch Bracelet / Strap:8k Yellow Gold Oysterlock
Watch Clasp:Double-locking safety clasp, Easylink extension
Movement:Automatic C.O.S.C.
Engine:Rolex Caliber 4160 (360 parts, 28,800 vph)
Functions:Hours, Minutes, Small Seconds at 6, Chronograph, Regatta Countdown (0-10 minutes)
Watch Chronograph:

The start/stop pusher located at two starts and stops the countdown. The reset pusher located at four has three functions: programming, synchronising and setting the countdown.With one hand, the user can rapidly program the countdown. Likewise, he can start, stop, set or synchronize it, while it is in progress, to the official countdown with a simple press of a pusher. To time the start of a regatta, press the start/stop pusher to start the countdown. At the end of the countdown, the minute hand stops by itself at 0. The seconds hand continues to turn. If necessary, to synchronize the countdown, at the time of the official signal, sound or visual: press the reset pusher briefly and firmly. The minute countdown hand repositions itself to the nearest minute, while the seconds countdown hand returns to 0. When the reset pusher is released, the minute countdown hand and the seconds countdown hand are automatically activated. To stop the countdown, press the start/stop pusher. To set the countdown, ensure that the countdown is stopped. Press the reset pusher. The minute countdown hand returns to the minute programmed at the last setting and the seconds countdown hand returns to 0. The countdown is ready to be started. To program the countdown, first, ensure that the countdown is stopped. Turn the bezel 90?counterclockwise. The inscription Yacht-Master II should be aligned with the winding crown. This locks the start/stop pusher. Press the reset pusher. A click is heard. The pusher remains depressed. The winding crown is then unscrewed to position 1, without pulling on the stem. (The same as for manual winding). The hand is positioned at the desired minute by turning the winding crown in the winding direction. The minute countdown hand moves from 0 to 10 minutes by increments of one minute. At 10 minutes, if the user continues to turn the crown, the hand returns to 0. Return the bezel to its initial position by rotating it 90?clockwise. A click is heard. This returns the reset pusher to its initial position and unlocks the start/stop pusher. Push and screw down the winding crown. The countdown is ready to be activated according to the time programmed.
Crystal:Sapphire - Scratch Resistant
Case Diameter:42.6 mm
Caseback:18k Yellow Gold
Bezel Material:Blue Ceramic
Bezel Function:Fixed
Water Resistance:100m / 330ft (suitable for swimming and shallow snorkeling; unsuitable for diving)
Crown:18k Yellow Gold - Screwdown Triplock with Rolex Logo
Calendar:None
Power Reserve:72-hour power reserve


Additional Info:

SuperLuminova coated markers and hands for increased night-time visibility. Blue PARACHROM hairspring with a Breguet overcoil - up to 10 times more resistant to shocks and insensitive to magnetic fields.
Warranty:

ORIGINAL VALID STAMPED INTERNATIONAL ROLEX WARRANTY

Rolex Yachtmaster II Mens Wristwatch



Item number:116688
Brand:Rolex
Style Number:116688
Also Called:Yacht-Master II
Series:Yachtmaster II
Style:Mens
Case:18k Yellow Gold
Dial Color:White with Silver Subdial
Watch Bracelet / Strap:18k White Gold Oysterlock
Watch Clasp:Double-locking safety clasp, Easylink extension
Movement:Automatic C.O.S.C.
Engine:Rolex Caliber 4160 (360 parts, 28,800 vph)
Functions:Hours, Minutes, Small Seconds at 6, Chronograph, Regatta Countdown (0-10 minutes)
Watch Chronograph:

The start/stop pusher located at two starts and stops the countdown. The reset pusher located at four has three functions: programming, synchronising and setting the countdown.With one hand, the user can rapidly program the countdown. Likewise, he can start, stop, set or synchronize it, while it is in progress, to the official countdown with a simple press of a pusher. To time the start of a regatta, press the start/stop pusher to start the countdown. At the end of the countdown, the minute hand stops by itself at 0. The seconds hand continues to turn. If necessary, to synchronize the countdown, at the time of the official signal, sound or visual: press the reset pusher briefly and firmly. The minute countdown hand repositions itself to the nearest minute, while the seconds countdown hand returns to 0. When the reset pusher is released, the minute countdown hand and the seconds countdown hand are automatically activated. To stop the countdown, press the start/stop pusher. To set the countdown, ensure that the countdown is stopped. Press the reset pusher. The minute countdown hand returns to the minute programmed at the last setting and the seconds countdown hand returns to 0. The countdown is ready to be started. To program the countdown, first, ensure that the countdown is stopped. Turn the bezel 90?counterclockwise. The inscription Yacht-Master II should be aligned with the winding crown. This locks the start/stop pusher. Press the reset pusher. A click is heard. The pusher remains depressed. The winding crown is then unscrewed to position 1, without pulling on the stem. (The same as for manual winding). The hand is positioned at the desired minute by turning the winding crown in the winding direction. The minute countdown hand moves from 0 to 10 minutes by increments of one minute. At 10 minutes, if the user continues to turn the crown, the hand returns to 0. Return the bezel to its initial position by rotating it 90?clockwise. A click is heard. This returns the reset pusher to its initial position and unlocks the start/stop pusher. Push and screw down the winding crown. The countdown is ready to be activated according to the time programmed.
Crystal:Sapphire - Scratch Resistant
Case Diameter:42.6 mm
Caseback:18k Yellow Gold
Bezel Function:Fixed
Water Resistance:100m / 330ft (suitable for swimming and shallow snorkeling; unsuitable for diving)
Crown:18K Yellow Gold - Screwdown Triplock with Rolex Logo
Calendar:None
Power Reserve:72-hour power reserve


Additional Info:

SuperLuminova coated markers and hands for increased night-time visibility. Blue PARACHROM hairspring with a Breguet overcoil - up to 10 times more resistant to shocks and insensitive to magnetic fields.
Warranty:

ORIGINAL VALID STAMPED INTERNATIONAL ROLEX WARRANTY

Rolex Datejust Ladies Wristwatch





Item number:116199 SANR
Brand:Rolex
Style Number:116199SANR
Also Called:116199
Series:Datejust
Style:Ladies
Case:18k White Gold
Dial Color:Diamond and Black Stripes
Watch Bracelet / Strap:Stingray Leather, Rubber, Diamonds
Watch Clasp:Folding Clasp with logo
Movement:Automatic C.O.S.C.
Engine:Rolex Caliber 2235 (31 jewels)
Functions:Hours, Minutes, Sweep Center Seconds, Date
Crystal:Sapphire Crystal, domed
Case Diameter:36.0 mm
Case Thickness:10.0 mm
Caseback:Stainless Steel screw-locked
Bezel Material:18k White Gold set with Black Sapphire Baguettes
Bezel Function:Fixed
Water Resistance:100m / 330ft (suitable for swimming and shallow snorkeling; unsuitable for diving)
Crown:18k White Gold, Fluted
Calendar:Automatic Magnified Date at 3
Warranty:ORIGINAL VALID STAMPED INTERNATIONAL ROLEX WARRANTY
Limited/Special Edition:

SPECIAL EDITION

Rolex Milgauss Mens Wristwatch



Item number:116400W
Brand:Rolex
Style Number:116400W
Also Called:116400, Milgauss
Series:Milgauss
Style:Mens
Case:Stainless Steel
Dial Color:White
Watch Bracelet / Strap:Stainless Steel with Rolex logo
Watch Clasp:Triple Folding Clasp with logo, divers extension.
Movement:Automatic COSC
Engine:Rolex Caliber 3131
Functions:Hours, Minutes, Sweep Center Seconds
Crystal:Sapphire Crystal, flat with raised edges
Case Diameter:40.0 mm
Case Thickness:14.0 mm
Caseback:Stainless Steel screw-locked with Rolex and Milgauss engraving around case back edges
Bezel Material:Stainless Steel, Polished
Bezel Function:Fixed
Water Resistance:100m / 330ft (suitable for swimming and shallow snorkeling; unsuitable for diving)
Crown:Screw-locked, fluted, stainless steel with Rolex Crown logo
Calendar:None


Additional Info:

Based on an original design from the 1950s, the Rolex Milgauss is resistant to the extremes of magnetic environments. The automatic movement is protected by a magnetic shield mounted inside the case, providing resistance to magnetic fields up to the magnetic flux density of 1000 gauss. This timepiece is thus indispensable for scientists, engineers, and doctors - professionals who work close to devices that generate strong magnetic fields.The magnetic resistance is amplified in the Rolex Milgauss with the inclusion of a blue PARACHROM hairspring, which, in addition to being completely insensitive to magnetic fields, is extremely shock resistant.

Warranty:

ORIGINAL VALID STAMPED INTERNATIONAL ROLEX WARRANTY

Rolex GMT Master II Mens Wristwatch



Item number:116713LN
Brand:Rolex
Style Number:116713LN
Also Called:New GMT Master II
Series:GMT Master II
Style:Mens
Case:Stainless Steel and Gold
Dial Color:Black
Watch Bracelet / Strap:Stainless Steel Oyster Bracelet with Rolex logo
Watch Clasp:Triple Folding Clasp with logo.
Movement:Automatic COSC
Engine:Rolex Caliber 3185 (31 jewels, 28,800vph)
Functions:Hours, Minutes, Sweep Center Seconds, 2nd Time Zone hand, Date
Crystal:Sapphire Crystal, flat with raised edges
Case Diameter:40.0 mm
Case Thickness:12.15 mm
Caseback:Stainless Steel screw-locked with Rolex logo and rolex dark engraving
Bezel Material:Yellow enameled Ceramic
Bezel Function:Unidirectional Rotating with 60 minute diving scale (120 clicks)
Water Resistance:100m / 330ft (suitable for swimming and shallow snorkeling; unsuitable for diving)
Crown:Screw-locked (Twinlock), protected, fluted, stainless steel with Rolex Crown logo
Calendar:Automatic Date at 3
Power Reserve:47-hour power reserve
Watch Bracelet Length:8.0 inches
Watch Bracelet Width:15.45 - 20.0 mm


Additional Info:

SuperLuminova luminescent inlay for hour markers and hands. Quick-set hour hand moves in one hour increments.
Warranty:

ORIGINAL VALID STAMPED INTERNATIONAL ROLEX WARRANTY

Rolex Datejust Mens Wristwatch



Item number:116234WGMD
Brand:Rolex
Style Number:116234WGMD
Also Called:116234
Series:Datejust
Style:Mens
Case:Stainless Steel and 18k White Gold
Dial Color:Mother-of-Pearl with Diamond Hour Markers
Watch Bracelet / Strap:Stainless Steel Jubilee
Watch Clasp:Deployant, Hidden Folding
Movement:Automatic C.O.S.C.
Engine:Rolex Caliber 3115
Functions:Hours, Minutes, Center Seconds, Date
Crystal:Sapphire - Anti Reflective
Case Diameter:36.0 mm
Case Thickness:11.6 mm
Caseback:Stainless Steel, Solid
Bezel Material:18k White Gold
Bezel Function:Fixed
Water Resistance:100m / 330ft (suitable for swimming and shallow snorkeling; unsuitable for diving)
Crown:Screw-locked crown
Calendar:Automatic Magnified Date at 3
Warranty:ORIGINAL VALID STAMPED INTERNATIONAL ROLEX WARRANTY

The Lowdown On Structured Settlement Transfers

Everyone has seen the commercials - "Get cash now for your structured settlement payments!" Have you ever wondered what the real deal was with those companies and how you can make money from your structured settlement? Of course you can sit around and wait for checks to show up, but what is the real lowdown on selling structured settlements?

Basically, the companies that advertise paying you for your structured settlement are in the market to buy structured settlement payments. Currently, you probably get a check every few months. What those companies do is buy the rights to your payments and give you a lump sum in return. The structured settlement is transferred to the buyer and they receive payments on it instead of you. However, the amount they pay you is less than all those payments add up to or else they would not make money on the deal.

Structured settlement transfers are much like transferring many other assets, although there is a little more red tape. More than likely you received your structured settlement as part of a lawsuit or settlement on a claim, so there are a certain number of legalities that must be dealt with. For the most part, though, it is basically paperwork to be prepared and signed.

The buyers of structured settlements have several clients, so they receive a great deal of money from payments on settlements they have bought. In the long run, the payments add up to more than they paid the original owner(s), so it is profitable for those willing to wait it out. Because inflation steals a portion of the value of the structured settlement as well as the additional time it takes to collect the money, the cash payouts on a structured settlement with some companies may be considerably lower than others.

When a Structured Settlement is Best

This article explains a few things about Structured Settlements, and if you're interested, then this is worth reading, because you can never tell what you don't know.

Structured settlements are structured cash payments through an annuity system that is established to compensate injury victims for their losses. Structured settlements are the other alternative payment system to a lump sum cash settlement and are set up to provide payments to you over time.

Structured settlements received special legislative treatment by the U.S. Congress in 1982, as a way to make large settlements more agreeable to parties and provide certain protection to victims. As a result, many people now choose a structured settlement agreement over a lump sum distribution, and courts often award them in civil actions where there will be long-term costs of living and the necessity for obtaining cash payments at some point in the future. Under a structured settlement, the victim will receive compensation over an extended period of time (often a lifetime) instead of a large single payment. The structured settlement is a way of protecting the victim from economic loss and hardship, while also making the payout more palatable to the defendant.

Structured settlements are obviously not appropriate in every case. A simple accident where the injured party is and will be fully capable, cases where the term of the treatment or care is not spread out over a long period of time, and where the kind of injuries are not severe would probably not have a structured settlement agreement.

Structured settlements are designed for many other types of cases though including:

•Severe injury where there is long-term treatment requirements, where future medical costs will necessarily be incurred, and to meet living and family expenses.

•Worker's compensation cases where the injured party may not be able to work or at least work to the earning capacity that they would otherwise have enjoyed.

•Permanent or temporary disabilities that will take extensive recovery time

•Wrongful death cases where a surviving family will need a regular income to replace that of the lost spouse/parent

•Guardianship cases where there are minor children or another person who is judged to be incompetent such as a person with psychological, emotional, or mental handicaps

If your Structured Settlement facts are out-of-date, how will that affect your actions and decisions? Make certain you don't let important Structured Settlement information slip by you. That's how things stand right now. Keep in mind that any subject can change over time, so be sure you keep up with the latest news.

Getting Cash From a California Structured Settlement Company

There are several established structured settlement companies in the state of California. These companies have a strong online presence which makes it easy for sellers to interact with them without having to travel.

A California structured settlement company offers lump sum payments to sellers in exchange of a structured settlement awarded for claim resolution or money won in a lottery.

People who wish to sell their structured settlements may have different reasons for doing so. Therefore, before finalizing a sale with any California structured settlement company, one should visit several online resources to gather information on the best solution for a given situation. One should always try and sell as low an amount of a structured settlement policy as possible. Getting information on the sale of structured settlements to California structured settlement companies enables sellers to get in touch with the direct funding sources and avoid middlemen.

The process of obtaining cash for a structured settlement can also be routed through trusted and established brokers who understand a seller's requirements and then put them in touch with a California structured settlement company that is most suited to fulfill their requirements. When availing the services of financial advisors and brokers, it is essential to realize that these parties are to be paid their fees regardless of whether a deal takes place or not.

There are many California structured settlement companies that have an excellent track record for offering relevant advice and prompt payments. These companies efficiently negotiate lump sum payments for the seller and are on good terms with insurance companies in states across America. A little research and background check can go a long way in assisting a seller to find the right California structured settlement company and in the process get a few thousand dollars extra in the sale. The key thing to look out for is the rate of interest charged by the settlement company. The average rate of interest in California is 19.2%; however there are structured settlement companies that charge more or less than this figure.

As per California state law, the sale of a structured settlement has to be reviewed by a court that approves it if after ascertaining that the sale is indeed in the best interests of the seller and his dependents. The California structured settlement company that purchases the settlement is obliged by law to elaborate on the payment made. The seller too has to furnish certain information that is used by the court to establish the genuineness of his need.

A Better Way To Sell A Structured Settlement- Via Auction

The Standard Method of Selling A Structured Settlement - Persistence and Patience (not always used)We have all seen the countless ads on TV from a various companies, "Get Lump Sum Cash Now." For years, people have turned to factoring companies in their time of financial need.

Smart consumers will learn from the insurance companies. Have you ever been involved in a car wreck? The insurance company requires for you to get three estimates and then they will pay the company that offers them the best deal.The smart consumer will also invest a little bit more of his or her time to make sure they get the best deal for their annuity or structured settlement. They will call at least three factoring companies and get competitive bids from each. Then they will go back to the three aforementioned companies and see if any are willing to beat their best offer. It can be tiring and time-consuming to follow through in this process, but for the average person, it could be worth several thousand or even tens of thousands of dollars in one's bank account at the end of the process.

The Better Method of Selling a Structured Settlement - Open Marketplace AuctionA new way of dealing with this issue has recently been introduced to the marketplace. Websites allow Structured Settlement owners the ability to list details of their payments, and receive cash bids directly from Top-Rated Funding firms. The process is relatively simple. Clients sign up for a free account and list the details of the payments they receive. Once an account is created and the details of the payment arrangement are known, Funding Firms can log in and make cash bids directly on the purchase of the settlement. Each firm can see the current highest cash offer, and if they wish to beat it with a higher cash price, they can do so.

Sellers do not need to worry about being called countless times by salespeople because the contact information of the settlement owner is not shared. When a factoring company makes a cash bid on the settlement, the service notifies the settlement owner of the new bid via email. Having settlement buyers compete in an open marketplace lowers the profit margin for funding firms, and forces the lowest possible discount rates to be applied when funding companies compete to buy future payments. This in turn ensures that clients can get the maximum amount of money back from their settlement.

The Importance of Comparison ShoppingTwo siblings had been receiving separate, but identical annuity payouts in the form of a structured settlement from an accidental family member death.

Sibling one got into a financial crunch. When this happened, sibling one called a "Factoring Company." She was offered a lump sum buyout, and although the offer was much lower than the value of the settlement, sibling number one didn't realize the importance of shopping the competition, and sold her settlement for $70,000. Sibling number two heard about the buyout and thought that it would be nice to have her cash now also. But, sibling number two was not as desperate for an immediate buyout. Sibling number two took the time to shop around for a better deal. Sibling two managed to uncover an online service, and they helped to secure the best offer possible. Sibling number one got a $70,000 buyout and was initially happy with her cash buyout. Sibling number two came to the service with the same initial $70,000 buyout offer for the settlement. After working with the service, sibling number two got offered $100,000 for the same settlement sibling number one sold for $70,000.

Sibling number two sold her settlement for $100,000 to JG Wentworth who is an auction partner in the service. While sibling number two did get the best possible deal, sibling number one unfortunately has to live with the fact knowing that she made a $30,000 mistake by not shopping the competition.In ConclusionYour structured settlement or annuity is the foundation of your financial future.

If you find yourself in financial need now, you should at the very least give yourself a couple more weeks to shop your deal to the competition. You might be telling yourself that you cannot afford to wait, but the truth is that you cannot afford to take the first bid that you are offered. In some cases, jumping at the first offer could be the equivalent of financial suicide to a structured settlement owner.So, be patient and persistent in the process of finding a buyer for your settlement. And remember, if you are willing to negotiate with a car dealer on the price you pay for a car, then there should be no reason in the world that you should not negotiate with a factoring company when you are looking for a buy-out of your settlement.