Law Times

March 24, 2014

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Page 20 March 24, 2014 • Law TiMes www.lawtimesnews.com Baxter, president of Baxter Structures, refers to one situation in which a parent was a very experienced investor. But the court dismissed his request for a lump sum that he would then invest and ordered a structured settlement in- stead. " e payments are outlined upfront so the family can plan the future care around the guaranteed payment stream," says Baxter. "Should something happen to the parents, the funds are still available, guaranteed to pro- vide for the future care of the compromised child. " ere is simply too much uncertainty in the outside investment market. ese par- ticular claimants require the security and guarantees only the structured settlement can provide." Parties le with severe in- juries and a disability are en- couraged to structure their settlements, says Barry Cho- botar of Henderson Structured Settlements LP. He points to two pieces of legislation that mandate structures in specifi c situations where the damages exceed a certain amount. In medical malpractice cases where an individual sustains a severe injury with future- car e costs exceeding $250,000, the Courts of Justice Act, at s. 116.1, mandates a structured settlement for those damages. ere's a similar clause in s. 6 of the Insurance Act that sets out criteria wherein a court shall order a structured settlement in automobile-related accidents. "What it does is it legally shi s the burden of proof to the plain- tiff to prove that a structured settlement is not in their best in- terests," said Chobotar. LT Structures encouraged in cases with severe injuries What do your clients need? The means to move on. Guaranteed. ™ Baxter Structures customizes personal injury settlements into tax-free annuities that can help your clients be secure for life. » Pre- and post- settlement consultation and support » Caring professionalism for over 30 years » No fee to you or your clients Need more information? Contact us at 1 800 387 1686 or baxterstructures.com Kyla A. Baxter, CSSC PRESIDENT, BAXTER STRUCTURES Baxter_LT_Oct7_13.indd 1 13-10-01 4:03 PM Continued from page 19 In cases of severe and catastrophic injuries, the courts and legislation will in some situations mandate a structured settlement. Photo: Belovodchenko Anton/Shutterstock BRIEF: STRUCTURED SETTLEMENTS

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