Minnesota Independent Professional Advice

  • -
Structured Settlement Advisor

Minnesota Independent Professional Advice

Minnesota Residents:  You must receive independent professional advice

If you reside in Minnesota and are interested in selling your structured settlement payment rights, you must obtain the advice from an independent professional adviser.

AFG Logo small

Below we cite the code that defines independent professional advice, and we cite the code that REQUIRES you to obtain independent professional advice:

 

  • 549.30 Subd. 6. [INDEPENDENT PROFESSIONAL ADVICE.] “Independent professional advice” means advice of an attorney, certified public accountant, actuary, or other professional adviser:

(1) who is engaged by a payee to render advice concerning the legal, tax, and financial implications of a transfer of structured settlement payment rights;

(2)  who is not in any manner affiliated with or compensated by the transferee of the transfer; and

(3) whose compensation for providing the advice is not affected by whether a transfer occurs or does not occur.

 

  • 549.31(d) the payee has received independent professional advice regarding the legal, tax, and financial implications of the transfer.

 

We are a nation-wide independent professional adviser, we can help.  Call today for  a free consultation.

Minnesota Independent Professional Advice

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.


  • -
Structured Settlement Advisor

Maryland Independent Professional Advice

Maryland Residents:  You must have independent professional advice

 Structured Settlement Advisor

If you are a Maryland resident and you are interested in selling your structured settlement payment rights, you must obtain independent professional advice.  Below we cite how Maryland defines independent professional advice, and then we cite the code that REQUIRES you to have independent professional advice.

 

  • 5-1101(c) Independent professional advice.–“Independent professional advice means advice of an attorney, certified public accountant, actuary, or other licensed professional adviser:

(1) Who is engaged by a payee to render advice concerning the legal, tax, and financial implications of a transfer structured settlement payment rights;

(2) Who is not affiliated with or compensated by the transferee of the transfer; and

(3) Whose compensation is not affected by whether a transfer occurs.

 

The Maryland code that REQUIRES you to have independent professional advice is:

  • 5-1102(b)(3) The payee received independent professional advice regarding the legal, tax, and financial implications of the transfer.

 

We have nation-wide independent professional advisers.  Call today for a free consultation.

Maryland Independent Professional Advice

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.


  • -

Example of a Violation that Could Deny Your Transfer of Structured Settlement Payment Rights

Example of a Violation that Could Deny

Your Transfer of Structured Settlement Payment Rights

Part I

 

Reminder:  This is Why You Want an Independent Professional Adviser… 

Structured Settlement Protection Act Experts

Structured Settlement Protection Act Experts

…to avoid snags,  delays,and a Violation that Could Deny Your Transfer of Structured Settlement Payment Rights.  The following example is a real life snag:

Example One:  The transfer company gave you, the payee, the disclosure statement 9 days before you executed the transfer agreement, not “ten or more days before the payee executes a transfer agreement.”[1]  In other words, when the hearing takes place, the judge will find out when you were given the statutory disclosures, or when you were given the rules to the game by the transfer company.

 

The law states that the transfer company is supposed to give you the “rules to the game” or the disclosure statement 10 or more days before you enter into agreement.

 

Why Does the Judge Want to Know This?

They want to make sure that you have had more than enough time to contact an independent professional adviser with your busy schedule.  That you are told about the financial implications of what you are about to do.  The court believes that less than 10 days is not enough time.  If this is violated, the transfer cannot happen.  It would be against the law.

 

What Happens Now?

The court could give you a chance to amend your petition to fix the problem and provide correct information so that the transaction could be better assessed, if you desire.

 

[1] INS. CODE 10136 (b).

 

Contact:

AFG LLC
(8555)313-3327
afg@earlycash4u.com
 

Structured Settlement Attorney Eugene Ahtirski

 
These are just examples of what could happen in your case, and should not be considered as legal advice. As each transfer case is unique and should be evaluated on it’s own merits, to warrant true and precise  Independent Professional Advice. The Law Offices of Eugene Ahtirski and  AFG LLC, ( a wholly owned and operated entity of the law offices of Eugene Ahtirski) can evaluate your case to find and explain the unique aspects of Your Transfer of Structured Settlement Payment.

  • -

Must Have IPA , independent professional advisor; States

Must Have IPA , independent professional advisor ; States

Alaska Eff.
Date: 08/12/2003
Alaska Code § 09.60.200 & § .09.60.23 Disclosure of Key Terms to payee required. [ 1 ] Payee must receive independent professional advice regarding implications of the transfer
Delaware Eff.
Date: 07/26/2000
Delaware Code, title 10, § 6601 & § 6602 Payee must receive independent financial advice.
Florida Eff.
Date: 10/01/2001
Florida Statute § 626.99296 Payee must receive independent financial advice. Cannot factor structured settlements of claims for workers comp. benefits.
Maine Eff.
Date: 09/18/1999
Maine Rev. Statute Ann. Title 24A § 2241 to § 2246 Payee required to receive independent professional advice. Interested parties must consent to transfer if settlement documents bar assignment of payments
Maryland Eff.
Date: 10/01/2000
Maryland Courts and Judicial § 5-1101-5-1105 Payee must receive independent professional advice. Cannot factor structured settlements of claims for workers comp. benefits.
Massachusetts
Eff. Date:
01/12/2001
Massachusetts Ann. Laws chapter 231C § 2 Payee must receive independent professional advice.
Michigan Eff. Date: 01/14/2001 Michigan Comp. Laws § 691.1191 to § 691.1197 Payee must receive independent professional advice. Interested parties must consent to transfer if settlement documents bar assignment of payments. Discount/interest cannot exceed 25% per year. Cannot factor structured settlements of claims for workers comp. benefits.
Minnesota Eff.
Date: 08/01/1999
Minnesota Statute § 549.31 to § 549-34 Payee must receive independent professional advice. Cannot factor structured settlements of claims for workers comp. benefits.
North Carolina
Eff. Date: 10/01/1999
North Carolina General Statute § 44B-1-543.10 to § 44B-1-543.15 Payee must receive professional advice. Discount/interest rate cannot exceed prime + 5%; fees cannot exceed 2% of net amount payable to payee. Cannot factor structured settlements of claims for workers comp. benefits.
Ohio Eff.
Date: 10/27/2000
Ohio Rev. Code Ann. § 2323.58.1 to § 2323.58.7 Payee must receive professional advice. Cannot factor structured settlements of claims for workers comp. benefits.

 

This comes straight from the IRS, it is a compilation of excerpts from the various structured settlement protection acts, in regards to IPA’s.  In these state you are required to have a IPA, unlike other states were it is only required to be advised of your rights to have an IPA.

To speak to an Independent Professional Advisor today Call Us (855) 313 – 3327 Toll Free

Structured Settlement Attorney Eugene Ahtirski

Structured Settlement Transfer Experts

Structured Settlement Transfer Experts