“CASH NOW” IS NOT “CASH NOW”

-THE LEGAL REALITIES OF Selling an Annuity or Structured Settlement for “CASH NOW”   We have all seen the commercials: “It’s my money, and I want it now!” – Or: “It’s Continue reading “CASH NOW” IS NOT “CASH NOW”

The Virginia Structured Settlement Protection Act

The Virginia Structured Settlement Protection Statute § 59.1-475. Definitions. For purposes of this chapter: “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement. “Dependents” include a payee’s spouse and minor children and all other persons for whom the payee is legally obligated to provide support, including alimony. “Discounted present value” means the present value of future payments determined by discounting such payments to the present using the most recently published Applicable Federal Rate for determining the present value of an annuity, as issued by the United States Internal Revenue Service. “Gross […]

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