A Settlement Planner is a professional educated and trained to advise plaintiffs and their attorneys, as well as judges, mediators and guardians, regarding settlement planning issues and solutions. A Settlement Planner is one member of the Settlement Planning Team that advises the plaintiff and his/her attorney and may serve on the plaintiff’s post-settlement Advisory Committee.
The subject matter expertise of a Settlement Planner should include the ability to:
1. Identify information and analyses, as well as other subject matter experts (SMEs), needed to develop an accurate and reliable Settlement Plan;
2. Diagnose a claimant’s settlement planning needs based upon such information, analyses and SME reports – or based upon whatever information is available.
3. Design and recommend a settlement plan that:
i. Considers the recommendations of other SMEs;
ii. Evaluates those recommendations in the context of the plaintiff’s:
(a) Personal and Family needs, objectives and resources;
(b) Responsibilities and obligations to others;
(c) Rights to private and/or governmental benefits;
(d) Net settlement proceeds;
(e) Identifies and cost-justifies the need for additional settlement planning information, analyses or SMEs;
(f) Recommends products, services and strategies to accomplish objectives identified in the settlement plan.
4. Implement recommendations included in the settlement plan;
5. Monitor and report on developments relating to the Settlement Plan including recommendations for changes in the Settlement Plan.
For additional information, see “Structured Settlement Definition”, “Introduction to Annuities” and “Settlement Trusts”. as well as "Structured Settlements and Periodic Payment Judgments".
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