Required Reading
- Disadvantages Of Keeping a Structured Settlement
- Get Cash For Structured Settlements
- FAQ's On Structured Settlements
- Structured Settlement Present Value
- Settlement Phrases To Know
Structured News
Structured Settlement Federal Tax Info Links
- IRS Structured Settlement Factoring Article
- IRS Tax Reported on: For transactions that do not meet the conditions for exemption
Did You Know?
Money in the future is worth less than money today.
To think of it in simple terms, if you loaned a person $1000 today and they said they would return the $1000 in 10 years. You lose all the value of today's money and future interest if you invested the $1000 in your savings account over the same 10 years. Also inflation and prices of almost everything increases in 10 years. There is also the risk if the person will pay it back and on time.
So you would not be able to buy as much with that $1000 that would be returned in 10 years. So $25,000 paid in 50 payments of $500 per month for next 4 years, may be worth today $18,506.44 +- or less. There is also the un measurable factor of "Needing a large amount of money now". To get super technical if your up for it you can read an economics presentation outline from the University of Wisconsin with examples of present value and the value of money. Read More >
Do you have a structured settlement? Are you set to receive future payments for a lawsuit settlement? If so, you may be able to sell your future payments and get a large amount of cash for the payments. Get started >
Sell Your Future Settlement Payments For CASH
< Go Back Structured Settlement Guide For DelawareBelow is local Delaware information related to courts, and structured settlement topics. You may have to visit or phone call a local Delaware courthouse when working with your structured settlement.
Delaware Settlement News
Delaware City Court PagesClick to go to Site: Delaware Main Court Pages
Court of Chancery New Castle County Court of Chancery
Structured Settlement Delaware State LawsTITLE 10 Courts and Judicial Procedure Special Proceedings CHAPTER 66. STRUCTURED SETTLEMENTS § 6601. Conditions to transfers of structured settlement payment rights. No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been authorized in advance in a final order of a court of competent jurisdiction or responsible administrative authority, based on express findings by such court or responsible administrative authority that: (1) The transfer complies with the requirements of this chapter and will not contravene other applicable law; (2) Not less than 10 days prior to the date on which the payee first incurred any obligation with respect to the transfer, the transferee has provided to the payee a disclosure statement in bold type, no smaller than 14 points, setting forth: a. The amounts and due dates of the structured settlement payments to be transferred; b. The aggregate amount of such payments; c. The discounted present value of such payments, together with the discount rate used in determining such discounted present value; d. The gross amount payable to the payee in exchange for such payments; e. An itemized listing of all brokers' commissions, service charges, application fees, processing fees, closing costs, filing fees, administrative fees, legal fees, notary fees and other commissions, fees, costs, expenses and charges payable by the payee or deductible from the gross amount otherwise payable to the payee; f. The net amount payable to the payee after deduction of all commissions, fees, costs, expenses and charges described in paragraph (2)e. of this section; g. The quotient (expressed as a percentage) obtained by dividing the net payment amount by the discounted present value of the payments; and h. The amount of any penalty and the aggregate amount of any liquidated damages (inclusive of penalties) payable by the payee in the event of any breach of the transfer agreement by the payee; (3) The transfer is fair and reasonable and in the best interests of the payee and the payee's dependents; (4) The payee has received independent professional advice regarding the legal, tax and financial implications of the transfer; (5) If the transfer would contravene the terms of the structured settlement: a. The transfer has been expressly approved in writing by: 1. Each interested party; provided, however, that the approval of the annuity issuer and the structured settlement obligor shall not be required if all other interested parties approve the transfer and waive any and all rights to require that the transferred payments be made to the payee in accordance with the terms of the structured settlement; and 2. Any court or government authority, other than the court or responsible administrative authority from which authorization of the transfer is sought under this chapter, which previously approved the structured settlement; and... * See more and actual structured settlement statutes at Delaware State government law site pages
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