When settling a case for a minor it is extremely important that the money is going to actually be there for the minor. Seems pretty obvious. In Wisconsin, courts must usually be involved in approving a settlement for a minor. It’s the governments way of protecting a minor from him or herself, the parents and unscrupulous attorneys.
If I settle a case for a 10 year old what happens 8 years from now, 10 years from now 15 years from now? What happens to the money in the eight years before the kid turns 18. Look what happened last year. If the money was put in the stock market the child may not have as much as awarded in the initial settlement or verdict.
It is the gaurdian ad litem’s (the attorney responsible for advising a Judge as to the appropriateness of a settlement for a minor or “incompetent” victim) job to make sure a victim’s compensation is an appropriate amount and is secure at the outset so it doesn’t get squandered. The gaurdian ad litem recommends certain terms to the court for approval. But, attorneys can’t know everything about the financial world. I certainly don’t.
That is where a structured settlement expert comes into the picture. This article is about Chuck Derenne of Wisconsin. I’ve worked with Chuck a lot over the past 9 years. He is a valuable asset for attorneys who help victims. If you’d like more information about Chuck give me a call and I can put you in touch with him.
If you have questions about a structured settlements in Wisconsin feel free to contact me. I’d be happy to discuss your situation.