Qualified Settlement Funds - Everything You Need to Know
Tuesday, November 11, 2008 at 01:02AM
The Tax Law Channel in Structured settlements, Tax issues, Taxable damages, Video Podcasts

Everything You Always Wanted to Know about Qualified Settlement Funds, But Were Afraid to Ask....Part 1 of 2

Qualified Settlement Funds, aka QSFs, 468B Funds, or 468B Trusts, are key tools in dispute resolution and claims administration. Once upon a time, they were strictly the province of large class actions, designed to receive monies from defendants (so defendants could take their tax deduction and obtain a binding court-approved release), with the QSF thereafter dealing with claims administration and payouts to plaintiffs. Today, though, these flexible court-approved settlement funds are used in numerous non-class actions, even those involving a mere handful of clients and lawyers. Although a controversy simmers about QSFs involving only one claimant, there's no controversy whatsoever about the vast bulk of QSFs, or their enormous tax and nontax benefits.

So, whether you are a plaintiff's lawyer, defense lawyer, structured settlement broker, mediator, judge, insurance company representative—or even if you're a plaintiff or defendant in a case—this is information you need. Rob Wood of Wood & Porter in San Francisco, host of the Tax Law Channel, is interviewed by our own Scott Drake, in this not to be missed podcast.

Article originally appeared on The Tax Law Channel (http://taxlawchannel.com/).
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