January 29, 2013 –  Independent rating agency A. M. Best has revised its credit rating outlook of American General Life from “stable” to “positive” according to last week’s press release on the topic.

American General is one of the four domestic life/health subsidies impacted by this action taken on parent company American International Group, Inc.

A “positive” outlook, according to Best, “indicates that a company is experiencing favorable financial and market trends, relative to its current rating level. If these trends continue, the company has a good possibility of having its rating upgraded.” (Emphasis ours)

While still too early to call, expectations are high that American General, currently rated A (Excellent), will soon reclaim its A+ (Excellent) rating in the near future.

American General is a major provider of structured settlement annuities currently responsible for writing approximately 10% to 12% of the annual structured settlement business.  They could potentially double that market share with the return of an A+ rating based on prior year results.

This is yet another positive (pun intended) step in the right direction for the 160 year old company committed to the structured settlements industry.  We wish them continued success and congratulate them on this development.

January 27, 2013 – With the Superbowl only a week away, the future of the sport is coming into question because of the seriousness of the injuries some players have suffered.

Just this past week, the family of former San Diego Chargers star linebacker Tiaina Baul “Junior” Seau, Jr. filed a multi-count lawsuit against the National Football League and several other defendants after an autopsy revealed evidence of Chronic Traumatic Encephalopathy (CTE).

Seau, who also spent time with the Miami Dolphins and New England Patriots before retiring, committed suicide last May.

He is not the first pro football player to be diagnosed with CTE postmortem.

The President of the United States even weighed in on the seriousness of the concern in an interview released today. President Obama, a lifelong Chicago Bears fan, confessed he’d have to “think long and hard” before letting a son of his play football given this developing body of evidence.

Structured settlements are frequently used to resolve Traumatic Brain Injury (TBI) and wrongful death claims when damages are paid.

January 22, 2013 – The first trial in the nation involving the recalled ASR artificial hip implant devices, manufactured by DePuy Orthopaedics, is scheduled to begin this week in a California court room according to today’s Wall Street Journal.

Tomorrow’s Washington Post includes some interesting details about the pre-trial expert testimony on the case styled Kransky v. DePuy.

The Finn Financial Group has been closely monitoring this litigation for the past several years because of a personal connection we feel to the plaintiffs involved.

To learn more about the structured settlement option that could be available to plaintiffs depending on the outcome of the trial, please visit a special website we created to help potential clients understand this excellent settlement option.  Here you’ll learn more about why we feel so strongly about this matter:

ASRHipSettlement.com

For further information or for a personal consultation, please contact us so we can help you make an informed decision about your future.

We will continue to monitor this and all DePuy lawsuits with great interest.

Don’t Sweat the Big Stuff

January 21, 2013 – There are few golfers on tour more popular than Phil Michelson.

Movie star good looks.  Four major championships.  Second on the “all-time money” list of tournament prize money won.  Endorsements through the roof.

And apparently it’s the latter that’s finally catching up to Lefty.

According to Sports Illustrated, Phil Mickelson earned over $57 Million dollars in endorsements in 2011.  That figure accounts for about 94% of his entire earnings for that year.

Makes his 3.7$ Million in salary and winnings seem like chump change.

It now seems the new 2013 tax rates have put a burr under Phil’s saddle if you’ll pardon the out-of-context metaphor.  Fred Altvater, reporting in Bleacher Report, claims that the new rates have incensed the golfer so much that he’s pledging “drastic changes” because his “tax rate is “62-63%.“

Two quick bits of advice for the golf legend-in-the-making.

First, get a new accountant and financial planner because that just doesn’t sound right.

Second, take a good, hard look at Structured Celebrity Endorsements.

As Jerry Reed cautioned in his 1971 crossover hit, “When You’re Hot, You’re Hot,” winning streaks make life seem grand.  But when the tide turns, watch out!

Every “hot” celebrity should heed this caution because fame can be so fleeting.

One day you’re the lead singer of the most popular band in the world.  The next day, you’re just the bass player.

Celebrities who understand this dynamic can capitalize on their popularity and secure their future by spreading their endorsement earnings out over a number of years, even a lifetime, with a Structured Celebrity Endorsement – an offshoot of the structured settlement concept.

Choosing a Structured Celebrity Endorsement can help prevent the next tale of woe such as that which befell the likes of Jake LaMotta, Mike Tyson, Lance Armstrong or countless others whose star, and earnings potential, faded earlier than planned.

Give us a ring, Phil.  We’re here to help.  We want to keep you competing on the links in your native California.  Don’t pay all those taxes this year.  Spread it out and save yourself some money at  the same time.

Besides, I just can’t see you playing bass.

January 16, 2013 – Yesterday’s CNN/Money column “California Shale Boom Possible” was a timely article for us to remind our clients about a money-saving option available to those who lease their land for oil and gas exploration.

In August of 2011 we announced the availability of a new application of the structured settlement concept designed to help landowners defer taxes on the bonus payments they typically receive for leasing their land.

In addition to potential future royalties, landowners are commonly offered substantial up-front cash bonus payments as an inducement to leasing the land for prospecting.  Because this bonus payment is fully taxable, the Structured Oil & Gas Lease Bonus Option can help spread the tax burden out over a number of years saving the taxpayer money.

To learn more about this unique approach to saving money on oil & gas leases, visit our companion website at:

MyStructuredLeaseBonus.com

January 10, 2012 – The lawsuit against artificial hip manufacturer DePuy Orthopaedics (Moira Jackson v. DePuy Orthopaedics) scheduled for trial in Prince George’s County, Maryland this past week ended when the plaintiff dropped her lawsuit just after jury selection was concluded according to Bloomberg.

According to some web reports which have yet to be confirmed, she may refile to pursue remedy in federal court.

Later this month, a California lawsuit is expected to commence trial pending the results of a defense motion for summary judgment, filed last November, scheduled to be heard tomorrow.

Plaintiffs who may be anticipating settlements stemming from the DePuy litigation are encouraged to familiarize themselves with the concept structured settlements as an option for receiving any compensation they may be entitled to.

For further information, please visit:

ASRHipSettlement.com

We welcome the opportunity to be of service and urge all clients pursuing legal remedy to educate themselves on the income tax-free benefits of structured settlements for their injury claims.

Tax Deal Could Bring Unwelcome Surprises

January 7, 2013 – While those earning less than $400,000 ($450,000 for married couples) may be breathing a collective sigh of relief because Congress made their tax brackets “permanent” on New Year’s Day, a little digging reveals that maybe they shouldn’t sigh too deeply.

Not just yet anyway.

According to today’s Fortune article published in CNNMoney, there is good reason to be a little more concerned about your taxable income than first meets the eye.

For starters, the Alternative Minimum Tax (AMT) phaseout included in the recent tax deal potentially increases some taxpayers’ income by several  percentage points even though their brackets remained intact.

Don’t worry if you’re not completely sure what AMT is all about.  Your accountant surely does.

The article cautions that those making between $150,000 and $473,200 might want to start doing some early tax planning for 2013 because they could be impacted.

Fortunately for contingency fee plaintiff attorneys and individuals anticipating a settlement from a personal, non-physical (i.e. taxable) injury lawsuit, we offer a solution.

Anticipating something like this might happen, a few months ago we published a webinar entitled Structuring Your Taxable Settlements to demonstrate the value of tax deferral for those who qualify.  We even created a special website designed to highlight the problem and to help you make a more informed decision about your financial future.  Be sure to visit:

MyTaxableSettlement.com

It’s not always easy and it’s rarely fun.  But investing the time to plan for saving money is always time well spent.

January 4, 2013 – According to various sources, the first state trial in the United States involving the much maligned DePuy ASR artificial hip is scheduled to go out on Monday, January 7, 2013 in Prince George County, Maryland.

While industry insiders will be watching this state trial with great interest, more interest will likely be paid to the first federal trials stemming from the lawsuits consolidated in the Ohio multidistrict litigation against DePuy directly.

Two trials are tentatively scheduled for May 6, 2013 and July 8, 2013.

Those involved in any litigation stemming from the DePuy ASR litigation are invited to visit our firm’s companion site, ASRHipSettlement.com, to learn more about how they may benefit from choosing a structured settlement for all or part of any post-settlement proceeds they may be awarded.

December 20, 2012 – While car safety has generally improved in recent years, a new, more specific, crash test designed and administered by the Insurance Institute for Highway Safety (IIHS), revealed that eight of eleven luxury and near luxury cars weren’t up to the challenge.

They flunked the test.

This new test, which replicates certain front end collisions, was created in part to help stave off the 10,000 plus deaths which still occur every year despite the auto industry’s ongoing efforts to improve vehicle safety.

When automobile accidents result in serious injury or death, we are typically called upon to assist the survivors with structured settlement choices designed to help them put their lives back in order where injury compensation proceeds are concerned.

While we pride ourselves on our ability to help clients with their post-accident settlement planning, we hope you never require our services because of an auto accident you or your loved ones are involved in.

And if you are in the market for a new car, it may be worth your time to review these crash results before making your selection.

Wishing you an accident-free holiday season and safe driving in 2013 and beyond!

88% of $7.1 Million Award Attributed to Punitive Damages

November 3, 2012 – Defense contractor KBR was recently found negligent by an Oregon jury for “knowingly” exposing National Guard soldiers to toxic chemicals while they were serving their country in Iraq according to CNN.

Each plaintiff was awarded $850,000 in non-economic damages and $6.25 Million in punitive damages in the $85 Million judgment.

Practice Pointer:  Although a defense appeal is planned, the plaintiff soldiers are urged to consider the tax implications of this settlement NOW in the event a post-judgment settlement is negotiated. 

Because the punitive component is fully taxable, utilizing a Non-Physical Injury Structured Settlement for this portion of the settlement holds tremendous potential to help mitigate the tax impact of such an award.

Our firm recently hosted a webinar on this very topic which explains the impact in detail.

To increase the chances for long-term financial security with a structured settlement following ANY judgment, clients are urged to analyze the tax consequences before accepting their verdict.  Proper planning can have a positive impact on the ultimate recovery and help plaintiffs keep as much of their award as possible.