For centuries, the parent-child immunity doctrine in tort has never had a consistent standard in the common law and American courts. The immunity prevents a child from suing a parent in the absence of wanton or negligent conduct in the exercise of parental authority or discretion. It bars a parent-child tort claim on public policy considerations and the need to foster the harmony of the family, the microcosm of the society. Erosion of the doctrine may impair the exercise of parental authority, discipline and act as a fertile ground for fraudulent claims. The courts invoke the doctrine as a disincentive to family litigation which may drive the wedge between parents and their children. On the contrary, the courts have narrowed the doctrine where it’s repugnant to public policy, for instance, where a child sustains injuries due to willful or wanton misconduct of a parent.
On June 8, 2000, James Stone, aged three years sustained severe injuries when traveling in a car driven by his dad. During the accident, his father was relishing in visitation privileges vested in non-custodial parents. Stone’s mother instituted a negligence lawsuit seeking compensation for physical and psychiatric injuries, medical expenses, and money expended to rehabilitate him. The court refused to follow the parent-child immunity doctrine ascribing liability to his father. In this case, the court held that where the duty of care breached was owed to the general public, the doctrine could not suffice as an insuperable bar to a claim. The attorney negotiated a structured settlement compensation scheme carving out a stream of income cashable once he turned 18 years. Stone who has a flair for entrepreneurship knows the business world is not a lottery; he capitalized on his structured settlements to launch a start-up.
The Process of Selling Settlement Payments
Pre-Contractual Statutory Safeguards
Stone picked out one of the structured settlement companies from the plethora TV ads he encountered every day. The company had to adhere to the structured settlement protection laws. They conveyed a disclosure statement ten days before he signed the transfer agreement. He received the disclosure statement and other documents via first class mail.
Frame Cogent Grounds In Your Affidavit to Sway the Court to Approve
Stone stated in the affidavit disclosing his grounds for the petition he needed the money to start a landscaping business to eke out a living from his career. He argued the rare job opportunities behooved him to raise a substantial amount of money for self-employment. He disclosed his alternative sources of income, attached business overtures to the petition and certificate of incorporation for his incubated company.
What Factors Does the Court Consider to Find the Sale is in my “Best Interest” & Approve the Deal?
The principal objectives of the IRC 5891 and state-based structured settlement transfer acts are to deter a tort claimant from frittering away compensatory damages in a single payout. Judges will only approve a transfer to structured settlement funding companies where the sale passes muster of the “best interests” standard. The court considers the seller’s age, intelligence, and physical ability, ability to fend for yourself without periodical payments, maturity level, and how you will use the proceeds of the sale.
Lump Sum Payment Helped Him Get Off To a Flying Start
Stone received his lump sum payment shortly after the court entered a qualifying order approving the transaction. He needed the money to incept an app development company. When he received the lump sum, he poured the quick bucks into a business that has grown and expanded beyond the US. Thus, mighty oaks from little acorns grow.
Top Three Structured Settlement Funding Companies
J.G Wentworth will pay you a premium price for your structured settlement offer as the company’s great assets allow them to scale back transactional fees. They deploy a court representative to ventilate your petition before the county court judge for approval of your transfer agreement.
Peachtree Financial Solutions knows your income stream under structured settlements is worth a fortune, as a habituated buyer of annuities; the company cuts the red tape and snap up a fraction or the entire future cash flows.
Fairfield Funding knows you have seen better days with periodical payments; the company offers a whack of money to structured settlement recipients seeking to strike it rich when short on cash.