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
