Services Offered by Millennium
We have assembled a variety of services that make Millennium an invaluable resource throughout the entire litigation process. By providing the following services, Millennium will become an invaluable asset to your legal team of experts.
Annuity Cost Evaluations
Millennium will analyze Settlement proposals to determine the amount of premium required by the Defendant to fund the illustrated benefits. Understanding the exact cost is crucial in determining the adequacy of a Settlement.
Present Value Calculations
Present value calculations are oftentimes prepared at various discounted rates to illustrate the difference between “cost” and present value. Our calculation of both annuity cost and present value helps all parties eliminate guesswork. In addition, Internal Rates of Return are easily calculated on all Structured Settlement proposals.
Life Care Plan Analysis
Millennium will analyze available life care plans to help match the desired benefits with the anticipated needs of the client. We will help develop counter proposals that allows for the inclusion of a Structured Settlement rather than a lump sum cash award.
Access to the Highest-Rated Life Isurance Companies
Millennium, represents only the highest-rated life insurance companies participating in the Structured Settlement industry. We provide in-depth information concerning the financial condition and ratings of all life insurance companies proposed. In addition, Millennium provides information on “Secured Creditor”, “Guarantee Letters”, or surety bonds offered by the various insurance markets.
Special Needs Trust Advisement
Millennium retains leading experts in this field to assist when necessary in the creation and implementation of Special Needs Trusts. We will assist in identifying cases where Special Needs Trusts should be considered and will help counsel avoid the legal malpractice pitfalls concerning the Special Needs Trust issue.
468(B) Designated Settlement Funds
Millennium is an industry leader in the education and implementation of Designated Settlement Funds, otherwise known as “Plaintiff Driven Structured Settlements.” Any case involving multiple claimants could be a candidate for 468(b) treatment. Simply described, it allows the plaintiff attorney to settle a case for cash while still preserving the claimant’s rights to receive tax-free treatment on future benefits. The Designated Settlement Fund takes the place of the Defendant and allows the individual claimant to decide what portion of the settlement to receive in cash and what portion to structure without violating the Constructive Receipt Doctrine.
Damage and Wage Loss Analysis
Millennium draws upon a variety of resources and experts to assist in preparing and analyzing damage and wage loss figures. We retain national experts in the field of economics to assist in this process at no cost to either party.
Jury Assessment and Analysis
Millennium utilizes personal injury litigation and settlement software that provides a quick, easy and reliable valuation based on the specific facts of each case. The program maintains a database of over 90,000 cases that will allow for accurate statistical analysis and research to precisely identify the value of each personal injury claim. Millennium provides clients unlimited and free access to this database.
Complete Document Preparation and Thorough Review
Millennium will review the Settlement Agreement and Release to help ensure that the necessary language protecting the claimant’s tax-free interests are preserved. We will prepare all assignment forms in the event that the Defendant chooses to make a Qualified Assignment pursuant to Section 130 of the Internal Revenue Code.
Access to Reinsurance and Treasury Bond Markets
U.S. Treasury Bond Trusts are often used in place of, or in conjunction with, Structured Settlement annuities to diversify larger cases. Millennium utilizes Reinsurance products primarily in Workers’ Compensation settlements.
Attorney Fee Structuring
The Eleventh Circuit Court recently opened the door with respect to attorney fee structuring. When implemented properly, plaintiff counsel has the ability to defer any portion of their fee. Structured attorney’s fees allow for levelized income and tax payment only when income is received. Millennium will help advise plaintiff counsel when attorney fee structuring might be considered.