P000312
Thursday, January 31, 2002 5:41 PM
Use of Structured Settlements on Behalf of Victims
A large percentage of victims of personal bodily injury and/or dependent
families of decedants in personal injury litigation today take advantage of
the opportunity to have a "structured settlement" pursuant to Section
104(a)2 of the Internal Revenue Code.
The structure allows a portion of the cash settlement which they might
otherwise receive to be made to a life insurance company which provides
either lifetime monthly payments or more complex "structures" of payments
including college funds and retirement funds. Many major life companies
offer these type of contracts. The United States already offers such
payment plans to victims of Vaccine Injuries and many Americans who may have
been injured by alleged negligence of United States employees. The Torts
Branch of the Department of Justice is very familiary with these plans and
their use to the benefit of the families involved. A comprehensive approach
to the victims of 9-11 should include such plans
Individual Comment