Divorce is rarely a happy event but a successful divorce settlement that can bring tax advantages and greater security to both sides of the transaction is going to be great news for many divorce attorney's and their clients across the country.
Today Allstate Financial has continued it's tradition for innovation and expansion in the structured settlement marketplace by announcing to brokers nationally that Marital Property Transfers, ie Divorce settlements, are now eligible to be structured using their Allstate International Assignments, Ltd, facility and Allstate Life Insurance Company as the funding mechanism.
This one area of structured settlements has been for the settlement planners who specialize in structured settlements in taxable damage situations, sort of the holy grail, as it is an area of the legal profession where there is a lot of activity and financial planning stress due to the nature of the situation involved. Now with the ability to use a structure to bridge the negotiation gap between parties, the potential exists to provides real value to both sides of the transaction in money saved and security added.
Mark Wahlstrom, the host of The Settlement Channel will be doing a commentary on the entire process later this week on Settlement Expert TV, and at that time will provide a more detailed tutorial on how structured divorce settlements work, the tax implications and advantages for both parties if they elect to structure a divorce settlement and who might be most interested in pushing funds into future years and securing cash flows.
Obviously the initial benefit of a marital property transfer being funded through a structured divorce settlement is the payer gets a full tax deduction for the amount funded, while the beneficiary of the payments has a secured cash flow from a AA+ rated credit and only pays taxes on the funds in the years in which they receive them. Mark will discuss the creative application of this powerful tool in his commentary later this week. Until then to learn more about the Allstate Financial divorce structured settlement program, keep checking back to our web site and contact Mark Wahlstrom for more details.