California Worker's Compensation - Help For Injured California Workers

• California Worker's Compensation - Quick facts about worker's compensation law, benefits and lawyer fees.

• California Worker's Compensation Resources - Links and resources for injured workers.

Results 1 to 9 of 9
  1. #1
    broke Guest

    Default

    Has anyone tried or has anyone sold a structured Workers Comp. settlement? How or why not? Need some advice.

  2. #2
    pt Guest

    Default

    BROKE,

    I don't believe that it would be something that I'd personally feel too comfortable about doing.

    Hope the following website will be able to clarify some of the issues that could be of particular interest to you.

    http://www.kolpan.com/pages/articles...redsettle.html

    Good luck to you.

  3. #3
    anon Guest

    Default

    Don't believe it's transferable.

  4. #4
    sh Guest

    Default

    You should contact your state's Insurance Department to find out about the company i.e. are they licensed and what kind of consumer complaints are on file. Some states have these reports on line.
    For example see the california department of Insurance's dData base on all companies in the insurance business
    http://www.insurance.ca.gov/0100-con...r-co-profiles/

  5. #5
    anon Guest

    Default

    If you watch the ads for companies that offer to buy out WC structured settlements, you will note that WC settlements are excluded. It is illegal to sell out a WC structure in California.
    The article posted by PT also gives some very good advise regarding NOT selling out a structure.

  6. #6
    dennison Guest

    Default

    I strogly believe a Structured Settlement ( SS ) would be the way to go for various reasons:
    1) The money you recieve out of a SS is 100% Tax free.
    2) A SS can be structured in various different ways to accomodate the recipient.
    3) A great way to make sure you do not sqander your settlement.
    4) I guess in todays times most likely the most secure way to have money aside, other than put it under the matress.
    5)You can make the SS transferable to your heirs should one perish.
    6) Money laid out for spouse of children through the SS is Tax free to them.

    SS are specifically designed for such settlements, making it a win win situation for both sides.

  7. #7
    broke Guest

    Default

    thank you all for the posts. I lost my house when I got hurt and now was wondering if that money could be used to get my family a house back. Don't sound so good. Still broke!!!

  8. #8
    pt Guest

    Default

    While the basic premise of a Structured Settlement is a great alternative for some; as has been indicated in "BROKE's" case; s/he is currently having some second-thoughts about their original decision to go with one. (Would now prefer to 'cash-it-out).'

    Although, and as Dennison has suggested; I too would personally be inclined to seriously consider having one drawn-up; but at the same time, I'd want to make triple sure that the institution handling it was waaaaay up there in the confidence ratings scale. (SH has provided an excellent resource-link into obtaining some vital, data).

    Although, I am sorry to read of your circumstances, BROKE - I'll hope that the SS can continue doing what it was originally meant 'to' do, for.... 'you.'


    Good luck & May God bless.


    PT

    ********** ********** ********** ********** *********&# 42;

    ~ Home is wherever the heart
    'truly'....is ~

  9. #9
    Join Date
    Jan 2007
    Posts
    428

    Default Re: Structured settlements

    Reading of your problems you can set up a SS in varied manners. If you need money to say put a down payment on a Home etc... You can have an up front payment then structured payments afterward. Here's a good article about structured settlements. Even though it's dealing with Kentucky Law it still has allot of good info:
    http://groups.google.com/group/misc....08c38d5eb86337

Similar Threads

  1. Structured Settlement
    By JustGroovewithme in forum Maryland
    Replies: 2
    Last Post: 12-03-2009, 05:50 AM
  2. Structured Settlements
    By Q-man in forum New York
    Replies: 5
    Last Post: 10-24-2009, 04:34 AM
  3. Structured Settlement-Help
    By Beachstar in forum Disability Benefits
    Replies: 6
    Last Post: 08-30-2008, 12:01 PM
  4. Is A Structured Settlement Right For You?
    By kentuckyranger in forum Kentucky
    Replies: 0
    Last Post: 04-27-2007, 06:18 AM
  5. Structured Settlements
    By frank in forum Illinois
    Replies: 2
    Last Post: 01-31-2006, 03:33 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 


Find a Lawyer