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I am often asked what is Independent Professional Advice? You have probably been told that you need to get Independent Professional Advice if you want to sell your right to receive payments due to you under a structured settlement. A structured settlement is a way to settle a lawsuit, typically a personal injury claim, without giving all of the money to the plaintiff – call the annuitant in the structured settlement – at once.  Typically, a structured settlement says that an annuitant will receive certain amounts on a monthly basis, or in a certain year. For example, a structured settlement might call for the annuitant to receive monthly monthly payments of X dollars and annual payments of Y dollars, and lump-sum payments of Z dollars every five years until the total amount of the settlement is paid in full.

Under Minnesota law, and annuitant has the right to sell payments due to the annuitant under the structured settlement, but a judge must the annuitant's request to sell all or a portion of their structured settlement. In addition to satisfying a number of other requirements, the annuitant must obtain Independent Professional Advice – or IPA, for short. IPA is advice that the annuitant receives from a an independent professional advisor (usually an attorney, accountant, or financial advisor) about the legal, tax, financial, and other implications of the sale of your right to receive structured settlement payments.

Tim provides Independent Professional Advice and has several contacts at different factoring companies that purchase the right to receive payments due under a structured settlement.  As such, Tim encourages anyone who needs Independent Professional Advice or would like to sell payments due under a structured settlement to contact him directly at 763-450-9494. If you need independent professional advice or want to sell all or a portion of your structured settlement, please call..


WARNING: The information contained in this blog post does not constitute legal advice and may not be applicable to your situation.  Tim is licensed to practice law only in Minnesota, and the information contained in this blog post may not apply to jurisdictions outside of Minnesota.  Further, reading this blog post does not create an attorney-client relationship between you and Baland Law Office, P.L.L.C.  You should always discuss your situation with an attorney before taking any action based on what you may read in this blog.  To that end, please call (763) 450-9494 to set up an appointment to discuss your situation.

 


Comments

12/27/2016 5:51am

Nice work for them for taking such a great tips, however they missed some pieces of advise but still its great thanks for sharing with us guys.

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