Paul Huber, a Delta Group of settlement companies settlement annuity broker in Orange County California was recently contacted by a plaintiff attorney to determine if his paraplegic client could obtain a structured settlement for her claim against several defendants. There were four other claimants and multiple defendants involved in the serious automobile accident. Unfortunately, by the time the Delta Group was contacted, some of the defendants had already interpled their policy limits into the registry of the court -- causing concern about the ability of the defendants to enter into a Qualified Assignment for the purpose of offering a structured settlement. Two of the defendants had structured settlement brokers who had advised their clients of the possible adverse tax ramifications of a structured settlement from a court registry in California.

Faced with a difficult situation, Huber contacted Delta Groups tax counsel, David Higgins of the Settlement Law Group in Los Angeles (www.settlementlaw.com). Higgins is the author of IRC 121 which was lobbied through congress in 1984 for IBAR Settlement Companies --a Delta group settlement annuity producer in Los Angeles -- to allow a Qualified Assignment of a settlement agreement offering periodic payments by a defendant. Higgins is universally considered the industries foremost authority on structured settlement tax law.

Higgins confirmed the defendants concern about some of the monies having already been interpled into the court. After some research, he determine that the court could order the funds already interpled to be re-characterized as a Qualified Settlement Fund under (QSF) IRC 468B. The court so ordered and a QSF was established. Once established, and after the remaining defendants had settled with the QSF, the QSF was able to enter into a structured settlement with his client. In addition, Huber's client also was able to structure a portion of his fees.                        Read More...

Delta group worked with both of the defendants brokers on this case and all three firms will share in the commissions generated on the sale of the settlement annuities. Huber's persistence in finding a way for his client to enjoy the benefits of a structured settlement and the cooperation of all of the brokers working together was what provided a structured settlement for this severely injured claimant. Paul Huber is a credit to his profession and his actions again prove the social good of both sides in the litigation process having a professional structured settlement representative.

Dave Snyder
President
Delta Group of Settlement Companies.