Summit Structured Settlements
755 S.E. Frontier Suite 101
Waukee, Iowa 50263
Voice: 515.987.6888
Fax: 515.987.6999
Toll Free: 866.267.1177
info@summitsettlements.com
Disclaimer
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Qualified Assignments
Section 130(c) of the IRC sets forth specific conditions to be met in order for the liability assignment to retain its "qualified" or tax exempt status.
• Periodic payments must be fixed and determinable as to amount and time of payment;
• Such periodic payments cannot be accelerated, deferred, increased, or decreased by the recipient of such payments;
• The assignee does not provide to the recipient of such payments rights against the assignee which are greater than those of a general creditor;
• The assignee's obligation on account of the personal injuries or sickness is
no greater than the obligation of the person or company assigning the liability;
• Such periodic payments are eligible for exclusion from the gross income of the recipient under IRC Section 104(a)(2
Evaluation and assistance in life care planning
Knowing exactly what the future may hold for an individual, however simple planning can assist in seeing some future needs, and meeting these needs with a combination of cash and a structured settlement. This is the only time in a person’s life where they can elect to take a portion of payments set out over a length of time, with tax free benefits that were specifically created by the government to help injured parties. With a combination of evaluation tools, we can assist in assessing future medical needs ranging from medicine, wheel chairs, assisted living care, in home nursing, and other future costs, and plan directly for them, all while dealing with inflation and preparing for unknown costs. We can also assist in making sure a claimants beneficiaries are also taken care of.
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