by Structured Settlement Watchdog
Eagle Settlement’s major flop on structured settlement basics is nearly as embarrassing as its CEO’s disastrous performance in the 2016 Palm Beach County judicial elections.
In a YouTube video (cue the dramatic screenshot), Eagle Settlement boldly claims that inheriting a structured settlement makes you the proud legal owner of the annuity. Spoiler alert: that’s completely wrong. The original annuitant gets to choose a beneficiary, and if they kick the bucket with payments still on the table, those payments go to the named beneficiary (not the estate), unless no beneficiary was named at all, dodging probate and its notorious snail pace. Moral of the story: choose your beneficiary wisely, and don’t believe everything you see on YouTube.
The beneficiary is not the legal owner of the structured settlement annuity that is used as a “qualified funding asset”. The beneficiary only has the right to receive payments in accordance with the schedule agreed when the structured settlement was established or in a commuted lump sum if such commutation provision was elected at the time of settlement.
Lawyer Robert Ostrov’s involvement in Eagle Settlements LP, was clear. Download LL003162 Eagle Settlements Ostrov quite clearly was partner 2013-2015. Court records in Palm Beach County 50-2014-CA-012924 show that Ostrov sued his former partners at the end of that relationship on October 22, 2014, but the matter was voluntarily dismissed shortly thereafter in March 2015. Here is the BBB report for Eagle Settlements where Robert Ostrov is listed as the Principal and Chrissy Eynon is right there with him. Download Eagle Settlements LLP Business Review in Altamonte Springs, FL – Central Florida BBB
The lack of licensure requirements for structured settlement secondary market companies helps foment the lack of basic knowledge on show by Eagle Settlement and the rest of the uninformed elements of the structured settlement factoring market segment.
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