January 01, 2013 Tax Law

Contingency Fees and Structured Settlement Annuities

Gerald R. Nowotny

Structured settlement annuities (SSAs) have been recognized by federal law since 1983. The original use of these arrangements was for physical injury cases. The typical arrangement for cases involving physical injury and sickness as defined under Section 104 provides for the defendant to make a “qualified assignment” of the periodic payment obligation as prescribed under the settlement agreement between the plaintiff and defendant to a qualified assignment company.

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