How Good Does Your Independent Professional Adviser Have To Be?
What if you found an independent professional adviser that was an attorney with years of experience in the arena of structured settlement law, with a financial background? We exist.
Did you know it’s up to the superior court judge to determine whether adequate independent professional advice has been provided to you?
Some superior court judges can postpone your case if they believe your independent professional adviser is not competent, or worse: if your independent professional adviser was a “nonattorney”, and broke the law by giving you legal advice.
In order for you to wrap your head around the rest of this article, we have to state the law, which can be pretty dry, so bear with us:
“The Structured Settlement Transfer Act (SSTA)(Ins. Code, Sect. 10136 et seq.) provides that independent professional advice means advice of an attorney, CPA, actuary, or other licensed professional adviser concerning the legal, tax, or financial implications of a structured settlement or a transfer of structured settlement payment rights (Ins. Code, section 10134(f))”
If the independent professional adviser fails to provide the required advice your case could be postponed. The “required advice” interpretation depends on the superior court judge.
Some judges interpret the SSTA language “legal, tax, OR financial implications” of an “attorney, CPA, actuary, OR other licensed professional” to mean all 3 “legal, tax and financial implication” qualifiers, or just a couple of them, while other superior court judges might not require any of the qualifiers at all.
Some superior court judges might want your independent professional adviser to have a higher standard of competency depending on your level of competency.
The only way to be confident with your independent professional adviser is to connect with an independent professional adviser that has experience in the field, with a true competency in the industry.
Call today for a consultation.
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