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Medical Malpractice

To establish medical negligence, there must be 4 elements proven by the plaintiff as follows:

  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.

Incredible Benefits

Tax-Free

IRS Code 104(a)(2) stipulates that periodic payments in the form of a structured settlement are 100% tax-free

Guaranteed Payments

The schedule of payments is determined at the front end of the transaction, resulting in a steady source of safe, reliable income for the claimant.

Rate of Return

With a locked-in rate of return, injured claimants can rest assured that market volatility will not affect their structured settlement payments.

The burden of proving these elements lies on the plaintiff in a malpractice lawsuit.

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.

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We specialize in offering our clients the confidence that only long-term planning can provide.

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Qualified Settlement Funds

Three requirements must be met before a Qualified Settlement Fund can be used in a settlement:

  1. The Qualified Settlement Fund must be any fund, bank account or trust that is determined to meet the criteria set forth by the court. If using a trust, the trust must fall under applicable state law.
  2. Assets to fund the trust must be separate of other assets held by the transferor.
  3. The claim must be eligible for a QSF (i.e. torts, damages, class action).

Incredible Benefits

Tax-Free

IRS Code 104(a)(2) stipulates that periodic payments in the form of a structured settlement are 100% tax-free

Guaranteed Payments

The schedule of payments is determined at the front end of the transaction, resulting in a steady source of safe, reliable income for the claimant.

Rate of Return

With a locked-in rate of return, injured claimants can rest assured that market volatility will not affect their structured settlement payments.

Defendants, usually insurance companies, are allowed to either pay their policy limits to plaintiffs or negotiate a future settlement, leaving them in litigation.

The person administering the QSF must make sure the account is funded for the amount previously agreed upon by all parties involved. Once the account is funded, the liability of paying for the claims is transferred from the defendant to the Qualified Settlement Fund, in what is known as a novation. A novation places the obligation of the original defendant to make periodic payments to the designated new party (the QSF).

Qualified Settlement Funds are usually established to meet short-term needs, as they are of short duration. Once the settlement funds are paid out from the QSF, the trust closes and the administrator will file a final tax return. Qualified assignment established by the QSF declares the settlement reward for the plaintiff as qualified; therefore making the disbursement tax-free once it is paid out to the plaintiff in accordance with the Internal Revenue Code.

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

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

Take the next step.

We specialize in offering our clients the confidence that only long-term planning can provide.