Day: March 2, 2019

Disclosure Notice; Compliance with in re Structured Settlement TransfersOriginally Posted on December 12, 2014, last updated on December 15, 2015 and reposted on March 2, 2019

A brief article on disclosure notice as it pertains to structured settlement transfers

  • 10136.  Disclosure Notice; Compliance with § 10138

 

Section 10136 has eighteen subdivisions, and is all about the disclosure notices, and their contents.  Let’s take it one subdivision, and disclosure notice at a time.

 

(a) No direct or indirect transfer of structured settlement payment rights by a payee to which this article applies shall be effective, and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to a transferee, unless all of the provisions of this section are satisfied.

What does this mean?

 

Transfers are split into two categories:  direct and indirect. 

Direct means no liquidation of assets takes place during the transfer.  Indirect means the assets are liquidated during the transfer.

 

Either way, the transfer won’t be good unless it matches all of the requirements listed in the eighteen (18) little sections or subdivisions in 10136, which we will go over one at a time.

 

The “structured settlement obligor” is the party that has the obligation to make the continuing periodic payments to the holder of the original structured settlement.

 

The “annuity issuer” is the party that originally drafted the “monetary” documents that generated the structured settlement in the first place, otherwise known as an annuity.

 

10136(a) simply states that nothing can happen unless everything and everybody plays by the rules stated in the eighteen (18) little sections or subdivisions!

 

This is the opening of section 10136–10136(a).  We show you the disclosure statements and we also explain the other subdivisions of 10136; read on…

lmea2

Originally posted 2014-12-12 23:03:17. Republished by Blog Post Promoter

The post Disclosure Notice; Compliance with in re Structured Settlement Transfers<span class="entry-meta">Originally Posted on December 12, 2014, last updated on December 15, 2015 and reposted on March 2, 2019</span> appeared first on Structured Settlement Expert.

Structured Settlement ExpertOriginally Posted on March 9, 2015, last updated on March 9, 2015 and reposted on March 2, 2019

Structured Settlement Expert

Judge Pro-tems, and Your Case:  Does it Matter?

Independent professional advisers are here to help. Did you know there are 5 types of judges, with different names?  Which type of judge will oversee your case, and why does it matter?  If the regular judge that normally adjudicates transfers of structured settlement cases is out sick, and a judge pro tempore (defined below) is filling in, the temporary judge might not be as wise, or knowledgeable with the law governing transfers of structured settlements.

That’s not to say the judge pro-tem won’t do the best job they can, but it is usually to your benefit to have the regular judge; the behavior is predictable, and they specialize in transfer of structured settlement law.  Having a judge pro-tem can be a wild card.

Your independent professional adviser will be aware of who is adjudicating your case.

Judge – is an official of the judicial branch of government, elected or appointed by the Governor and employed by the State, who has been admitted to practice law in California for at least 10 years, with authority to decide lawsuits brought before the courts.

Commissioner is an attorney admitted to practice law in California for at least 10 years, elected by the judges of the Court and is an employee of the Court, given the power to hear and make decisions in certain kinds of legal cases including misdemeanors, felonies through the preliminary hearing stage, family law and juvenile cases.

Referee – is a person appointed by and an employee of the Court (generally an attorney) to hear and make decisions on limited legal matters, such as juvenile and traffic offenses.

In California, the term Justice is used to identify members of the Courts of Appeal and the State Supreme Court.

A “pro-tem” (judge pro tempore) is a commissioner or referee temporarily replacing a judge.

Definitions ONLY, courtesy of Los Angeles Superior Court

Not only will your Independent professional advisor be aware of what judge will be hearing your case, but as a structured settlement expert they will also most likely or should know what each judge requires.

Lets take orange county for instance, all the cases in orange go through one judge, and that one judge has a very specific outline of what he believes the price range should be, and what he believes are acceptable reasons for approval.

Now if an independent professional advisor walks in and has not taken these specifics into account,then the judge will continue or deny that transfer.

But on the same hand if a structured settlement expert acting as an independent professional advisor walks into that same court, knowing what we know about that judge they will not only have addressed the issues and either corrected them or have an explanation, reason, and a plan for getting the presiding judge to see it as the payee sees it for their best interest.

http://structuredsettlementatty.com

Structured Settlement IPA, selling you structured settlement

Originally posted 2015-03-09 20:11:55. Republished by Blog Post Promoter

The post Structured Settlement Expert<span class="entry-meta">Originally Posted on March 9, 2015, last updated on March 9, 2015 and reposted on March 2, 2019</span> appeared first on Structured Settlement Expert.