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aggregate trust fund
#11
ok i talked to the wcb and the award stated in the letter is mine as of the date stated. from what i was told it wont be appealed and that is that. so i have to find out if on that date is this finally the end of the road.
 
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#12
good news Blake
........I love cats, I just cant eat a whole one by myself......







 
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#13
thank you jayne yeah i would say some good news,finally after 7 years. from what i have read this is nys way of making them settle so they stop dragging their feet. now i did read they have 30 days from the decision from this letter to appeal and knowing them they will. in 7 years i havent lost one yet its just them doing it because they can i guess.
 
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#14
gonna be a good christmas this year knowing you are done with WC...
........I love cats, I just cant eat a whole one by myself......







 
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#15
yes it is though i do hope this is the end. but from the sounds of what this is that this will be the end
 
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#16
now does anyone know if the wcb issued the aggregate trust fund deposit is my lawyer to get a % of it? its not like they worked for a settlement this was issued by the judge.
 
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#17
well im very confused and bummed now. when i called the wcb they told me the award money as stated in the letter that was to be put in to an aggregate trust fund would be mine on the date that is in feb. now my lawyer called me back today and said that money isnt mine and never will be. im confused as to why the wcb said it will be mine as of that date yet my lawyer said its never gonna be mine. has anyone ever recived a decision letter like this or have gone through this aggregate trust fund? if the judge says that award is to be placed in an aggreate trust fund then where does the moneygo and who's is it? does it just sit in a trust fund forever? this isnt what i saw coming. im so very confused now. lawyer said that the ins comp will have to put the money in the trust fund but not mine????
 
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#18
trusts are often used in disputes to act as a third party.
that way the carrier doesn't earn interest or otherwise get to use the disputed amount.
it still stays in the trust until the dispute is resolved just like before.
without the trust involved the carrier had an incentive to delay any resolution. using a trust may get the dispute resolved sooner.

this is just a total guess on my part as no other states to my knowledge use trust accounts like this.
Reminder :
........Each state has their own comp system; POST YOUR STATE to get accurate information. Use the search feature to find information from similar questions.
THANKS FOR POSTING.
 
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#19
so what your saying is the money the wcb has ordered the ins comp to deposit into the atf is mine and i wont be getting this money on the date stated in the letter of decision? what i dont get is why did my lawyer say its not my money nor a settlement,whos money is it?
 
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#20
The ATF dates back to the 1930’s and was seen as necessary to protect against potentially insolvent carriers. Carriers are required to make deposits for the full present day value of of cases involving permanent partial disability, permanent total disability, the loss of major members (limbs or eyes) and fatal injuries.

From what I have been able to find, the ATF makes your biweekly payments from that deposit. It does not mean that you are entitled to the full amount. Just that they collect it to make sure that they have enough to pay you if the insurance company should go belly up.
 
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