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Can some other entity besides the defendant or their assignee purchase the tax-exempt settlement annuity?

April 26, 2017Annuity defendant entity purchase tax-exempt

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Can some other entity besides the defendant or their assignee purchase the tax-exempt settlement annuity?

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Yes, under certain circumstances. If conditions exist pursuant to IRC Section 468B, a Qualified Settlement Fund could step in the shoes of the defendant and as a “party to the suit or agreement” arrange for the purchase of the settlement annuity and comply with the tax codes, including Section 130.