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FCE
jayne Wrote:Sweet tooths MSA is set up to where if she dies it goes to her family...it can be done it just takes a bit more work by your lawyer and as they dont get % of it they dont always wanna do it....but it can be done

After furthur studying, Its"possible" if your state has a applicable state law that provides for other arrangements, such as a beneficiary designation. I will check my state to see if this provision is possible. Learn something new again!

It would be a "hard sell" to the opposing WC IC who wants the unused money back. Thats why they buy a Annuity in hopes of recovering there loses. I could see where this would stall any claim.

In all honesty, The IW should not have a MSA funded if he is not using it. There is a 2 year seed money that gets the MSA started and every year a certain amount is added according to the settlement amount. The settlement amount is based on your future medical and prescription drug needs only.
Most will have a short fall of funds and go to Medicare before death due to inflation etc.

http://www.cms.hhs.gov/workerscompagency...taside.asp
 
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jayne Wrote:Sweet tooths MSA is set up to where if she dies it goes to her family...it can be done it just takes a bit more work by your lawyer and as they dont get % of it they dont always wanna do it....but it can be done


This statement is false. They cannot take it away from the MSA BUT the Attorney can take the MSA Recovery off the front end lump sum settlement.
I admit that would be "crappy" but they can recover it off the front end. Ask your Attorney; They have loop holes bigtime.

Your total recovery could be $200k; $100k lump sum; $100k MSA
In my state the Attorney is capped at 20% of all recovered. He would take his $20k from the front end settlement and another $20K off the front end settlement for the MSA leaving the IW A net lump sum of $60K. The MSA remains at $100k because he took the $20k off the front end where he is allowed to if he is a A-hole.

I actually have ran into this situation head on 4 months ago.
I was floored and told my Attorney the day of Mediation my Front end settlement amount would have to be this much "dollar higher" to compensate for this part of the Attorney's fees.
My MSA will be double my lump sum settlement amount.
We agreed in writing that very same day he would not charge for the recovery of the MSA amount off the front end. Be careful here IW's; Attorney's have loop holes bigtime.
 
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ahhhhhhhhhh again depends on your lawyer...
........I love cats, I just cant eat a whole one by myself......







 
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Bad Boy Bad Boy Wrote:Freebird, yes please share in a new thread about the MSA. And no I don't think this is what is stalling my settlement, as they have done nothing as far as coming up with an amount. It's beeb said, they just might contact CMS stating the will pay for and medical. In Illinois for many years open medical was un-heard of, but the last couple of years it's been coming to life more due to MSA fundings.

Okay, I have a thread about MSA and I would like your thoughts on this subject. Why you want this thread to die is beyond me. It is so educational at least thats my opinion.
 
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because once it gets beyond the title it is no longer serving its purpose...some need to learn about MSA not FCEs when looking the title will tell them.....
........I love cats, I just cant eat a whole one by myself......







 
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jayne Wrote:ahhhhhhhhhh again depends on your lawyer...

ahhhhhhhhhhh this is true but you did not say that originally

jayne Wrote:
Sweet tooths MSA is set up to where if she dies it goes to her family...it can be done it just takes a bit more work by your lawyer and as they dont get % of it they dont always wanna do it[u]....but it can be done
 
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you are right I didnt say it...
........I love cats, I just cant eat a whole one by myself......







 
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