Questions that the Judge Might Ask You

A Guide to everything you should know about selling.

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Chapter 5

 

Selling your structured insurance settlement: Questions that the judge might ask you

Getting approval of your structured insurance settlement sale will require your appearing in court in 47 states. Most likely, the judge will ask you some questions. These should be relatively easy, all things that you readily know. You should answer the judge honestly and openly, and be courteous at all times.

General Questions

First, the judge is likely to begin with some basic questions about your structured insurance settlement and the sale of payments. He or she may ask your name, address, job title, and living situation (alone, with spouse, etc.). They may ask you about the history of your payments – why you received them – and if you still need them for medical bills or living expenses. They will want to ensure that you understand the cost of the sale, can live without your payments, and in general are certain that this is the best decision for you.

Eleven Specific Questions

In addition to these background, preliminary questions, the judge may ask you many other questions, including the following:

  1. What do you plan to do with this money?
  2. Have you ever sold payments before? If so, what did you do with that money?
  3. Do you know what fees the buyer of structured settlement payments is charging you and do you understand the structured settlement buyout rates?
  4. What do you plan to do with this money?
  5. Have you ever sold payments before? If so, what did you do with that money?
  6. Do you know what fees the buyer of structured settlement payments is charging you and do you understand the structured settlement buyout rates?
  7. Have you discussed this matter with an attorney or a financial advisor?
  8. Will you be able to live without this money or do you need these structured settlements for retirement or living expenses?
  9. Do you realize that if I approve this sale you cannot come back later and change your mind or get your payments back?
  10. Do you understand that your payments are currently worth $X but that you will only receive $X if I approve this sale today?
  11. Considering all that I have asked you today, do you want to have additional time to think about this sale before we proceed?

Ask questions before the hearing!

While the judge may ask you a number of questions the court hearing is not really the time for you to be asking questions. If you have any questions about procedures or your settlement sale ask your Strategic Capital representative before the court hearing so that you can go into the hearing with a good understanding of what is going on and without any questions.

Being Prepared

The most important thing when you want to sell structured insurance settlement payments is that you be prepared. Answer the questions that the judge asks honestly, completely and clearly. You want to show the judge that you understand the situation, that you have thought this through, and that this sale is what you want. If you are worried about appearing in court call Strategic Capital. Your representative will give you some insight into what to expect in your state.