Colonial pays cash for structured settlements!
Federal & State Statutes regarding structured settlements.
The passage of state and federal legislation beginning in 1997 has given all parties participating in the transfer of structured settlement payments a better financial transaction. The seller of annuity payments has gained a court overview and approval to assure a level of Consumer Protection. The purchaser of the cash flow payment stream has the appropriate court jurisdiction validate the transaction which protects the underwriting risk. The annuity issuer can accept the transfer and feel confident that the annuitant, as well as the insurance company, is protected.
Please click the map, or use the links below, for details on each of the appropriate jurisdictions which govern structured settlement transfers, followed by the year of adoption.
Any state that is not on this list or does not have a qualified Structured Settlement Transfer Act may not qualify under Federal statute to allow sale of the payments without incurring the excise tax of H.B. 2884. Someone living in non-court ordered states may still qualify by doing the order in the domiciled state of the issuing insurance company.
The information provided on these pages is believed to be reliable and timely. However, Colonial makes no representation as to the accuracy or current legal status of transactions in any state concerning the transfer, sale, or purchasing of structured settlement annuity payments. Please consult an attorney for any interpretation of the legal aspects of selling annuity payments.
All the comments and references contained on these pages are believed to be accurate, but Colonial Settlement Partners, L.P. does not offer legal or tax advice. Each individual should rely on their own consultants for advice concerning the transfer of Structured Settlement Annuity Payments.