Sandra Jones of Faegre Drinker Biddle & Reath. Courtesy photo Recent Class Action Lawsuit Alleges Misappropriation of Special Needs Trust Funds
SNTs are usually for the most vulnerable of structured settlement payees as a trusted means of asset protection. SNTs will receive the periodic payments directly from the annuity issuer, and the SNT trustees have a fiduciary duty to spend the trust situs for the benefit of each beneficiary.
March 18, 2024 at 09:31 AM
8 minute read
2023 marked one of the largest and most successful years for the structured settlement industry. See NSSTA Announces Record-Breaking $8.623 Billion Industry Milestone in 2023 | National Structured Settlements Trade Association. According to the National Structured Settlement Trade Association (NSSTA), of which this author is co-chair of the Legal Committee, a staggering 29,810 people—all of whom victims of injury or survivors of wrongful death victims—received the benefit of a structured settlement. This author has written on the benefits of structured settlement annuities previously, and those benefits are bountiful. Structured settlements provide customized, stable, and most times tax free income to payees. Often, the periodic payments available under a structured settlement annuity will be payable for as long as the payee shall live, providing a protected and steady income stream.
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