Conduct deemed as malicious is accompanied by ill will, spite, or for the purpose of injuring another party. With that being said, punitive damages are only awarded in special cases where compensatory damages are considered to be insufficient. They are awarded by the court as a means to prevent under-compensation, as a way to compensate for undetectable wrongful acts, and/or for taking a strain away from the criminal justice system.

Because they are paid in excess of the plaintiff’s compensation, the plaintiff has the burden of proving that punitive damages should be awarded by a preponderance of the evidence. “Preponderance of the evidence” is also known as the burden of proof, in which the plaintiff must shift the accepted conclusion away from an opposing opinion to his/her own.

For the benefit and protection of the claimant, we help ensure that the settlement will distinctly allocate funds between taxable (punitive) and nontaxable (compensatory) damages.

This is why it is of vast importance to work with professionals who specialize in Structured Settlements, as we do at Vega Settlement Group.

For example, if a claimant (the plaintiff) settles in court for $2 million and the lifetime payout from these funds being invested is estimated at $3 million, then the whole amount of $3 million would be income tax-free.  If the plaintiff were to receive the $2 million in a single lump sum, any gains on that premium would be considered taxable. By allowing our consultants at Vega Settlement Group to structure your settlement, any income taxes on the $1 million gain would be avoided.

Secondly, a Structured Settlement provides financial independence for the claimant in what is known as “spendthrift protection.” This means that the claimant, because of the way the settlement will be structured, will not outlive his or her funds due to bad judgment or advice from others.

It is a statistical fact that a person who receives their settlement in a lump sum will spend the entirety of their money within 5 years. This is noted to occur in 9 out of 10 cases, or simply 90% of the time.¹

By consulting a Structured Settlement specialist at the Vega Settlement Group, we will try and help you to not be part of the statistic.

¹ (The Rutter Group, Ltd. from Flahavan, Rea, Kelly & Tener, “California Practice Guide: Personal Injury” (TRG 1992) Ch. 4.)

Since investments are usually made when an individual has a higher income and withdrawals are made from an investment when a person is earning little, tax-deferral is the optimum choice. Individuals with higher incomes are taxed at higher rates and people with low incomes lie in a lower tax bracket. Therefore, if you were to withdraw your money, say after you retire, that money may be taxed at a lower rate.

Tax-Deferred Structured Settlements can be used in a variety of cases involving employment cases, divorce settlements, structured attorney fees, and other taxable settlements. Personal physical injuries are tax-free while non-physical injuries are either partially or fully taxable.

When an amount is tax-free it is not subject to taxation (tax-exempt) and thus no taxes ever have to be paid on that amount. This grants major benefits for potential taxpayers because it relieves them from the burden of paying any taxes that would usually accumulate. Advantages of Structured Settlements are not only limited to taxes but also to the financial confidence and long-term benefits they provide. Utilizing structures allows for the resolution of any disputes before trial (thus limiting litigation costs), periodic payment plans, tax savings, transfer of investment risks and reassurance that your money will be placed only in highly rated insurance companies

This is why it is of vast importance to work with professionals who specialize in Structured Settlements, as we do at Vega Settlement Group.

Conduct deemed as malicious is accompanied by ill will, spite, or for the purpose of injuring another party. With that being said, punitive damages are only awarded in special cases where compensatory damages are considered to be insufficient. They are awarded by the court as a means to prevent under-compensation, as a way to compensate for undetectable wrongful acts, and/or for taking a strain away from the criminal justice system.

Because they are paid in excess of the plaintiff’s compensation, the plaintiff has the burden of proving that punitive damages should be awarded by a preponderance of the evidence. “Preponderance of the evidence” is also known as the burden of proof, in which the plaintiff must shift the accepted conclusion away from an opposing opinion to his/her own.

For the benefit and protection of the claimant, we help ensure that the settlement will distinctly allocate funds between taxable (punitive) and nontaxable (compensatory) damages.

This is why it is of vast importance to work with professionals who specialize in Structured Settlements, as we do at Vega Settlement Group.

Firstly, it must be noted that the interests of social insurance programs must be protected with respect to benefits already paid out at the time of settlement. This means that the Structured Settlement must already include these payments made by Medicare and ensure that Medicare is not responsible for payments not included under their coverage. Secondly, funds from the settlement must be used to cover medical expenses of the claimant until they are exhausted; only then will Medicare coverage be available.

The Center for Medicare and Medicaid Services (CMS) administers settlements involving Medicare and Medicaid and they will not recognize settlements that do not protect Medicare’s interests. Any amount allocated in the structure for future medical expenses should be placed in a Medicare Set-Aside (MSA). This account is established as a means to pay for projected future medical expenses that would have otherwise been covered by Medicare.

To learn more about the effects Medicare could have on your Structured Settlement please contact one of our consultants at Vega Settlement Group.

Securities America Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of Securities America.

1. A duty of care was owed to the patient.
2. Treatment fell below the accepted standard of practice by violating the applicable standard of care.
3. There was some injury to the patient.
4. As a result of substandard treatment, the patient suffered the injury.

There needs to be a predetermined amount of money for the suit before the claim can continue. Medical malpractice lawyers determine this amount using previous precedents, along with the details of the individual case. Compensation for medical malpractice is usually based on the amount of damage a patient has sustained. All damages are given a monetary value and can include lost wages, pain and suffering and punitive damages.

In response to rising malpractice suits, many states have passed legislation making it difficult to prevail in medical malpractice suits. Most states also have a statute that caps the amount of damages that can be awarded. However, physician negligence can have very severe consequences for patients and the law is in existence to supply such patients with options.

To learn more about Medical Malpractice Structured Settlements and ask if they are appropriate for your case please contact one of Our Team at Vega Settlement Group today.

Since a minor cannot individually own a bank account, a responsible custodian must be assigned to help the minor with the account until the minor reaches the age of majority. The rest of the money will generally be used to purchase a Structured Settlement annuity, which is a tax-free investment vehicle that provides a steady stream of income over a specified period of time while earning interest.

The best thing about these investments is that they are tax-free and prevent an individual from going on a spending-spree and purchasing unnecessary things.

This is why it is of vast importance to work with professionals who specialize in Structured Settlements, as we do at Vega Settlement Group.

• Payments to the injured party for lost wages.
• Compensation for economic loss.
• Payment or reimbursement for all approved medical expenses.

The long-term impact of injuries should also be taken into consideration. If an employee is killed on the job, dependents are eligible for death benefits, similar to life insurance. Punitive damages (intended to punish the employer for negligence) and general damages for pain and suffering are generally not available in workers comp plans. Payments to the claimant for lost wages and economic loss are made in exchange for the surrender of the employee’s right to sue their employer for any negligence.

The workers’ compensation system is a tradeoff between employers and employees since, in order to receive benefits, you do not need to prove your injury was someone else’s fault. Workers comp was adopted in California during the second decade of the 20^th century and is considered to be the nation’s oldest social insurance program.¹

Our extensive knowledge in dealing with Workers’ Comp settlements allows us to provide our clients with adequate annuities that may cover any current & future medical needs. This is vital to accurately preparing a Structured Settlement because many times things such as immediate cash or the funding of Medicare Set-Aside’s are left out, or undervalued, thus leaving the injured party liable for the difference.

At Vega Settlement Group, we will do our best to work with your attorney, the defense, the insurance company and anyone else involved to make sure this does not happen to you and your financial needs are adequately portrayed in the structure.

¹http://www.ssa.gov/history/history.html

There is a low minimum and no maximum amount for these types of settlements because the amount is dependent on various factors including: the nature of the injury, the amount of time the injury is expected to last, whose negligence led to the accident and the economic damages caused to the injured party. Economic damages may include, but are not limited to, lost wages, medical bills, and the opportunity costs of being healthy. General damages for such settlements include pain, suffering and distress.

Punitive damages are meant to not only punish, but also to deter the defendant and others from committing similar acts as those that formed the basis of the lawsuit. The Internal Revenue Code, Section 104(a)(2), underlying that any damages received as a result of personal physical injury or physical sickness would be income tax exempt, specifically excludes punitive damages. With punitive damages being taxable, the preparation of a Structured Settlement is very critical and should be conducted by professionals to avoid IRS penalties.

At Vega Settlement Group, we ensure that our financial consulting allows for the Personal Injury Structured Settlement to provide tax benefits as well as future income for our clients.

• Life With Period Certain – includes a death benefit that will guarantee payments for a fixed number of years. The number of years is based on the life expectancy of the annuitant (contract owner) and payments are made for the latter of the period, or for life. Should the annuitant pass away prior to the contract maturing, the designated beneficiaries would be paid only for the remaining fixed years.
• Period Certain – the annuitant chooses a specific time period for which he/she will receive payments. Once that time frame lapses, the annuitant will not receive anymore payments. In essence, it is possible to outlive your payments under this type of option. Advantages of period certain annuities are that they offer a higher payment than one would find in a Life with Period Certain annuity, for example.
• Temporary Life – payments are made for a designated number of years, contingent upon the annuitant living. There is no payment to a beneficiary should you pass away and, therefore, the annuity terminates upon death or at the end of the designated years of payment.
• Life Only – guarantees payments for life, with no beneficiary option.
• Joint Survivor – most commonly used for married couples, where payments will continue to surviving annuitant upon death of the primary. Payments continue at either the same rate or as a predetermined percentage of the original benefit.

At Vega Settlement Group, we make it our commitment to have these payments reflect the future obligations and goals of the client, thus protecting them from outliving their financial resources.