Out firm prides itself on keeping you abreast of industry developments important to your personal and professional lives.
Toward that end, today we are pleased to provide you with the attached flyer describing a little known application of something that originally grew out of the traditional structured settlement arena:
Marital Property Transfers
(Click Orange Link to Open Brochure)
While "Structured Divorces" have been occurring for awhile on a limited basis, formal promotion of the concept is just now surfacing and we wanted to make sure you were aware of the availability of this unique approach to handling an often difficult and delicate matter.
Allstate Life, through Allstate International Assignments, Ltd., is the first to pro-actively target this particular application of the non-qualified assignment process with specific literature.
In addition to Allstate, Liberty Life Assurance Company of Boston, through BARCO Assignments, Ltd., is also quite active in the Non-Qualified Assignment field and also offers a similar option.
Additional options are also available through Treasury Funded Structured Settlements as well as several life markets which offer direct purchase annuities to satisfy the need for future cash flow when married couples go their separate ways.
Non-Qualified Assignments first emerged in the 1990s to address a growing need to provide structured settlement-like tax-treatment on claims settlements which fell outside the scope of Sections 104(a)(1) and (2) of the Internal Revenue Code.
Over time, applications for this safe, secure, tax-advantaged solution to financial and claims resolution challenges have grown to include:
Structured Attorney Fees
Certain Disability Claims
Non-Physical Injury Torts
Punitive Damages and Bad Faith
Breach of Contract
Structured Oil & Gas Lease Bonuses
Assorted Other Applications
We recently hosted a webinar of the process which you may be interested in reviewing. Like most webinars, it's a bit long but the content is invaluable for those matters you are involved in which can be successfully addressed with a Non-Qualified Assignment.
In case you missed it, here's a link to our last newsletter which will guide you right to the video on our YouTube Channel: Structured Taxable Damages.