What Is Georgia Law For Insurance Settlements For A Minor Child. Does A Structured Settlement Have To Be Made?
Question by Lisa M | Posted in Law & Ethics
Once the rapprochement is agreed on. Is it law that the account has to be set up under a structured annunity account or can the parents set up a trust account at a bank for the boy.
The reason for the question is a family friend who is an attorney is Oklahoma handled the settlement for me. However, the law in OK is another and he is not sure how it is handled in GA. He said I may have to now hire an attorney in GA.
Answer: It all depends on how much the clearing is for. If the gross amount of the settlement is $15,000.00 or less, then the Court does not need to be involved. Code Detachment 29-3-1.
In that event, you can do what you want so long as you take care of your child. A structured settlement is usually a good design but is never legally required. Putting the money into an annuity or structured settlement will make things less of a hassle with the court.
Here are the panoramic rules
How Do I Find Out Information On My Son's Structured Insurance Settlement?
Question by Misti | Posted in Insurance
My son was injured a few years ago, Me and his architect had joint custody of him then. His father took care of the insurance settlement without my knowledge. I know it is structured and he is to draw his first payment at the age 18. I now have full custody of my son, and his father has been out of the picture for 3 years. I don't know where to begin to look for info on the structured settlement. I don't even know the amount, I do know they appeared in court but not sure what court. How do I find
Answer: You can do a clientele records search on the courts. (A private investigator could this in literally 10 seconds, and will raid a modest fee.)
After you find out the court and the document, you can obtain a copy of the court document from court.
How Much Should The Insurance Company Be Willing To Pay You In One Lump Sum Today?
Question by Cacia1707 | Posted in Insurance
1.You have been offered a “structured” clearing from an insurance company after being involved in an auto accident. Under the terms of the agreement, you will be paid the following amounts:
Today: $50,000
One year from today:$60,000
Two years from today:$70,000
Three years from today:$80,000
Four years from today:$90,000
You choose that you would rather receive the entire lump sum today. Using a 5% interest assumption, how much should
Answer: This isn't surely an insurance question, it's math homework.
Social Security Benefits And Structured Settlement Payments?
Question by iloveveggiesnstuff | Posted in Insurance
My sister is harmed and receives a social security benefit (SSDI) check each month. She also receives a verification monthly from an insurance company due to a car accident she was in a few years back. That is her only income. She qualifies for and uses Medicare.
She wants to get a carbuncle sum payment from her structured settlement payments and use that to pay off bills etc.
Will getting all that extra money automatically rule out her from getting Medicare and SSDI?
Answer: No. She gets Medicare, because she's on SSDI. SSDI is NOT based on your proceeds or assets. It won't affect the SSDI/Medicare benefits at all.
How To Get Appointed To An Estate To Recieve Payment On A Structured Settlement?
Question by EcKo1976 | Posted in Insurance
My innate had a structred settlement and is due 100,000 dollars on march 1st, sadly she past away and formerly larboard me and my father beneficiarys on the settlement, then he passed away and now the insurance company is telling me that his half will be givin to his property but no one was ever appointed to his estate, now what i wanna know is how to get appointed to his estate and how to go about it and how long that will take?
Answer: The executor of her property will have to handle this for you. His share, would still go to his estate, and after all his debts are paid off, then it would be divided among his heirs, just like all his other assets.
To be appointed, you have to go to a surmise, and get a bond. You'll have a bunch of paperwork you have to file. Since you have NO idea how to do it, you probably need to hire a probate/stratum attorney.
Jun 26, 2011 from Carita Jakubowski
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Structured settlement - Wikipedia, the free encyclopedia
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Prudential Insurance Company of America
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