Case Examples

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Compassionate and Objective Service.

Our team has over thirty years of experience working with injured victims.  We have seen how traumatic and life-changing accidents can be for families.  It is never easy; but because of the heart break we see, we are passionate about what we do and the service we provide to our clients.  Below are a few case examples outlining how we work as a team with financial advisors and attorneys to assist claimants and their families.

 


Wrongful Death

It was a day like any other. Wake up, get the kids ready for school and prepare Jack’s lunch and coffee thermos before he rushes out the door to the work site. After the morning rush, it’s time to begin her day filled with chores. Around 10 a.m., she receives an urgent call from the foreman about an accident and Jack. Her heart races and she calls him back. He starts with “I’m very sorry” and the rest is a blur in her memory. Her life is forever changed.

She is now a widow raising three young children. Mr. B, the widow’s father, has been a long-standing client of his trusted Advisor. Since the accident, the family and their attorney went through settlement negotiations with the construction company. Near the end of the settlement, the family’s attorney suggested looking into a structured settlement for a portion of the settlement proceeds. Mr. B contacted his Advisor and asked if he could assist his family regarding the structured settlement since he has been their valued advisor.

The Advisor called the AVITAS Sales Desk and explained the situation to the Millennium representative. The Advisor and Millennium representative worked with the family’s attorney to help finalize the settlement plan. Due to the young family’s various needs they agreed that the Advisor should manage $500,000.00 of the settlement proceeds and structured settlements would benefit the widow with tax-free lifetime monthly income and education funds for each of the three children.

 


Age Discrimination

Imagine working your entire career, devoted to one company. Ms. A was that employee; working diligently and looking forward to retirement in several years. Unfortunately, it became clear to Ms. A that she was not being considered for development opportunities within the company. After some time, she decided to take the appropriate action within the company and when that was unsuccessful, she hired an attorney. After a long year of settlement negotiations, her attorney was able to convince the company to settle in favor of Ms. A.

Thankfully, Ms. A has been a long-standing client of her trusted CPA. When it became clear that her case was close to settlement, Ms. A  contacted her CPA to discuss the tax consequences of her settlement. Her CPA explained that employment litigation cases are fully taxable, so he suggested that she contact his trusted Financial Advisor to discuss her options. The Financial Advisor suggested a structured settlement for a portion of the settlement proceeds in order to help defer the taxes. Using a structured settlement to amortize taxes over a 20 year period would save Ms. A over a third of the settlement proceeds, which would have been lost to taxes.

Working as a team, the Advisor, CPA and the Millennium representative worked with Ms. A to first develop a tax-efficient financial plan to meet her various needs. Next, the Advisor and the Millennium representative worked with Ms. A’s attorney to help finalize the settlement plan, draft settlement documents and present the concept to the defense attorney. At first, defense counsel was reluctant to accept the concept of a structured settlement for a portion of Ms. A’s settlement.

Because of Millennium’s expertise, the Millennium representative and plaintiff’s counsel were able to convince the defendant to agree. By working with a Financial Advisor, CPA and a Millennium  Representative, Ms. A can now retire confidently, with a comprehensive financial plan.

 


Overcoming Obstacles: Child

It was a day like any other: classes, one history test to worry about and then wrestling practice after that. There was a big wrestling meet soon so he really needed to focus on practice that afternoon. He talked with the coach and started to dual with his teammate. Then, in one tragic moment, his whole life changed forever. The diagnosis: a spinal cord injury which left him paralyzed from the shoulders down.

Mr. B, the student’s Uncle, has been a long-standing client of his Financial Advisor. Since the accident, the family and their attorney went through settlement negotiations with the school district. Near the end of the settlement, the family’s attorney suggested looking into a structured settlement for a portion of the settlement proceeds. Mr. B contacted his Advisor and asked if he could assist his family regarding the structured settlement since he has been their trusted advisor for so many years.

The Financial Advisor called the AVITAS Sales Desk and explained  the situation to the Millennium representative. Due to the young  man’s various needs they agreed a trust with conservative investments would assist his need to remain eligible for Medicaid or any other needs-based benefits and a structured settlement annuity would benefit the young man for his future medical needs. 

Consultant and Attorney worked to develop a comprehensive plan utilizing a combination of a structured settlement and a Special Needs Trust to accommodate and anticipate the wide variety of financial and medical needs the young man might encounter throughout his life.