The document discusses post-settlement pitfalls attorneys may face if they fail to fully inform clients of settlement options and properly advise them. Three examples are provided where attorneys failed to disclose structured settlement benefits, advise on impacts to public benefits eligibility, or ensure the best annuity rates, resulting in potential liability. The document stresses that attorneys have a duty to fully explain settlement ramifications to avoid these pitfalls.
Home Inspector's Insurance & Risk Management - July 19, 2013Gerald Brunker
Home Inspector professional liability, general liability and other applicable insurances for home inspectors. Risk management tips and hints and home inspector claim information.
Ellett Law Offices, P.C., is dedicated to providing quality representation to clients with bankruptcy issues in Phoenix, Arizona, and surrounding areas. As founding attorney of the law firm, Ronald J. Ellett is committed to effectively resolving cases for clients involving Chapter 7 bankruptcy, Chapter 13 bankruptcy, Chapter 11 bankruptcy, credit card debt, foreclosures and other bankruptcy issues.
Bankruptcy of the person or organization who has insolvency law, was not paying the debts to creditors. In most jurisdictions, often lead to contraction.
Home Inspector's Insurance & Risk Management - July 19, 2013Gerald Brunker
Home Inspector professional liability, general liability and other applicable insurances for home inspectors. Risk management tips and hints and home inspector claim information.
Ellett Law Offices, P.C., is dedicated to providing quality representation to clients with bankruptcy issues in Phoenix, Arizona, and surrounding areas. As founding attorney of the law firm, Ronald J. Ellett is committed to effectively resolving cases for clients involving Chapter 7 bankruptcy, Chapter 13 bankruptcy, Chapter 11 bankruptcy, credit card debt, foreclosures and other bankruptcy issues.
Bankruptcy of the person or organization who has insolvency law, was not paying the debts to creditors. In most jurisdictions, often lead to contraction.
Dealing With Clients In Financial DistressArthur Howe
This presentation identifies issues that law firms and lawyers should consider when dealing with clients in financial distress. It is focused on Illinois law.
This presentation does not create an attorney-client relationship or provide legal advice. It may be deemed to be “Advertising Material.”
How to Decide if 7 or 11 is the Right Bankruptcy ChoiceSuzzanne Uhland
Deciding on filing for Chapter 7 or Chapter 11 bankruptcy depends on what future the majority shareholders and or creditors see for the company but many entrepreneurs and experienced business tycoons have found in bankruptcy motivation to keep going and get back on the horse.
Are you concerned when asked “does your daily work ticket provide the right contractual risk transfer language?” The answer is often “yes” because to answer the question will probably cost you billable hours with an attorney. NBIS has successfully defended its clients in claim situations using contract language, even upper tier contracts & MSA’s. During this session, Mr. Smith and Mr. Silva will present basic protocols on why contractual risk transfer is so important and how to position your operation properly. You will learn how IRMI spreads the ‘Top Down Risk Transfer’ message to large construction companies and ways to defend your operation in the event of a claim. Lean on the team of experts from NBIS to ensure your daily work ticket leverages the most defensible terms available.
Speakers: Bill Smith, EVP Claims & Risk Management, NBIS (NationsBuilders Insurance Services, Inc.) Tyrone Silva, Risk Manager, NBIS (NationsBuilders Insurance Services, Inc.)
Do you want to transfer all your hard earned assets to your loved ones? Have you worked whole your life and you want to be secure for the future of your family? For more information visit: http://margarianlaw.com/
Marc Rovner is an East Rockaway, New York, attorney who is active with BETA Abstract, LLC, where he provides real estate title insurance legal services. Attorney Marc Rovner has extensive knowledge of title insurance requirements in his home state and has taught on the subject in college settings.
A title indemnity policy comes into play when a property is being leased out or sold and the prospective tenant or purchaser seeks confirmation that the seller has the legal right to transfer the property title. In addition, the buyer seeks to establish that no title defects exist that would impact their ownership interests. The same principle applies to lenders that take security on a property with the aim of selling in the future.
Common title defects include not having building regulations’ consent or planning permission for the type of development on the property. Another common issue involves lack of easements, or rights that benefit the property. This may include restrictions against using utilities or entering third-party-owned land to repair utilities for a structure on the property.
Title indemnity policies do not repair or cure the defect, but rather offer financial compensation in cases where the defect results in actual loss (up to stated limits). In most cases, the title indemnity limit is equal to the property value or the gross development value of a site to be developed. In addition, it may be equivalent to the mortgage amount obtained on the property.
Help, My Business is in Trouble! (Series: Restructuring, Insolvency & Trouble...Financial Poise
When a business becomes financially troubled, the business owner often experiences denial, paralysis, or both. Lenders commonly lose confidence and then trust in the business, as communications tend to break down, deadlines are missed, and promises are broken. Small business owners commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually has some options, and even some leverage. This webinar explains what a business owner should- and should not- consider and do when dealing with financial trouble. Specific topics include discussion of bankruptcy (Chapters 7 and 11); assignments for the benefit of creditors; and friendly foreclosures. This webinar provides the business owner and her advisors with an overview of various restructuring and liquidation methods, a framework for how to decide between them, and practical tips for traversing the difficult environment that is financial distress.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/help-my-business-is-in-trouble-2020/
This study was based on the approach laid for future study by the project Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train. In brief, Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train dealt with the ergonomic evaluation of Indian style toilet in Duronto train. The purpose of Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train project was to do a preliminary ergonomic evaluation so as to suggest probable solutions to reduce the dissatisfaction of a person after using the toilet and to lay an approach for future ergonomic study. Readers were encouraged to read Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train beforehand so as to get a comprehensive understanding of this project.
This project carried on further by suggesting a design for the interiors of Indian style toilet in Duronto train by keeping in mind the main activities performed inside a toilet. These activities were studied in Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train. A suggestive design solution was made for the interior of the train toilet based on ergonomic design principles and anthropometric data of Indian population.
Dealing With Clients In Financial DistressArthur Howe
This presentation identifies issues that law firms and lawyers should consider when dealing with clients in financial distress. It is focused on Illinois law.
This presentation does not create an attorney-client relationship or provide legal advice. It may be deemed to be “Advertising Material.”
How to Decide if 7 or 11 is the Right Bankruptcy ChoiceSuzzanne Uhland
Deciding on filing for Chapter 7 or Chapter 11 bankruptcy depends on what future the majority shareholders and or creditors see for the company but many entrepreneurs and experienced business tycoons have found in bankruptcy motivation to keep going and get back on the horse.
Are you concerned when asked “does your daily work ticket provide the right contractual risk transfer language?” The answer is often “yes” because to answer the question will probably cost you billable hours with an attorney. NBIS has successfully defended its clients in claim situations using contract language, even upper tier contracts & MSA’s. During this session, Mr. Smith and Mr. Silva will present basic protocols on why contractual risk transfer is so important and how to position your operation properly. You will learn how IRMI spreads the ‘Top Down Risk Transfer’ message to large construction companies and ways to defend your operation in the event of a claim. Lean on the team of experts from NBIS to ensure your daily work ticket leverages the most defensible terms available.
Speakers: Bill Smith, EVP Claims & Risk Management, NBIS (NationsBuilders Insurance Services, Inc.) Tyrone Silva, Risk Manager, NBIS (NationsBuilders Insurance Services, Inc.)
Do you want to transfer all your hard earned assets to your loved ones? Have you worked whole your life and you want to be secure for the future of your family? For more information visit: http://margarianlaw.com/
Marc Rovner is an East Rockaway, New York, attorney who is active with BETA Abstract, LLC, where he provides real estate title insurance legal services. Attorney Marc Rovner has extensive knowledge of title insurance requirements in his home state and has taught on the subject in college settings.
A title indemnity policy comes into play when a property is being leased out or sold and the prospective tenant or purchaser seeks confirmation that the seller has the legal right to transfer the property title. In addition, the buyer seeks to establish that no title defects exist that would impact their ownership interests. The same principle applies to lenders that take security on a property with the aim of selling in the future.
Common title defects include not having building regulations’ consent or planning permission for the type of development on the property. Another common issue involves lack of easements, or rights that benefit the property. This may include restrictions against using utilities or entering third-party-owned land to repair utilities for a structure on the property.
Title indemnity policies do not repair or cure the defect, but rather offer financial compensation in cases where the defect results in actual loss (up to stated limits). In most cases, the title indemnity limit is equal to the property value or the gross development value of a site to be developed. In addition, it may be equivalent to the mortgage amount obtained on the property.
Help, My Business is in Trouble! (Series: Restructuring, Insolvency & Trouble...Financial Poise
When a business becomes financially troubled, the business owner often experiences denial, paralysis, or both. Lenders commonly lose confidence and then trust in the business, as communications tend to break down, deadlines are missed, and promises are broken. Small business owners commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually has some options, and even some leverage. This webinar explains what a business owner should- and should not- consider and do when dealing with financial trouble. Specific topics include discussion of bankruptcy (Chapters 7 and 11); assignments for the benefit of creditors; and friendly foreclosures. This webinar provides the business owner and her advisors with an overview of various restructuring and liquidation methods, a framework for how to decide between them, and practical tips for traversing the difficult environment that is financial distress.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/help-my-business-is-in-trouble-2020/
This study was based on the approach laid for future study by the project Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train. In brief, Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train dealt with the ergonomic evaluation of Indian style toilet in Duronto train. The purpose of Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train project was to do a preliminary ergonomic evaluation so as to suggest probable solutions to reduce the dissatisfaction of a person after using the toilet and to lay an approach for future ergonomic study. Readers were encouraged to read Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train beforehand so as to get a comprehensive understanding of this project.
This project carried on further by suggesting a design for the interiors of Indian style toilet in Duronto train by keeping in mind the main activities performed inside a toilet. These activities were studied in Ergonomic Evaluation of Indian Style Toilet in Indian Railways’ Duronto Train. A suggestive design solution was made for the interior of the train toilet based on ergonomic design principles and anthropometric data of Indian population.
Show 62 | 3 Reasons Web Sites Fail | Edge of the Web RadioErin Sparks
Consider this: There are about 700 million websites. But to most of us, only a tiny fraction of those sites exist because we jump from bookmark to bookmark, scanning our favorite homepages and refreshing our feeds. Marketers everywhere are asking, "Why do so many websites fall short?"
We're giving you the Three Deadly Reasons Most Websites Fail
HOM INtro #5: What\'s a Hardship Package Anyway?MildredWilkins
Don’t you hate it when there is something you have to do and you have no idea how to get started? You would be willing to provide what is being asked for—if you better understood what that was? Providing a hardship package is a requirement for almost all lenders/servicers in order to get any kind of workout. Yet, seldom do consumers feel they have a clear understanding of what is needed, why it is needed or how to put together the information so critical to their housing mess. You’ll be prepared to get the job done once you have reviewed this INtro. Isn’t it worth 15 minutes of your time to get the details you need to do a better job of giving your lender what they need—to give you what you want? We thought you’d agree...
Feedback for 5-2 Milestone Two Case Study TwoSubmission Feedbacalisondakintxt
Feedback for 5-2 Milestone Two: Case Study Two
Submission Feedback
Hi China:
Case Study Two: There are four elements of a contract that make it legally binding. Without all four of these elements the contract will not stand in a court of law. The first element is the offer. The offer has a clearly defined time limit and a clear offer. The next element to a contract is acceptance. The offer must be accepted without conditions. The third element of a contract is intention of legal consequences. The final element of a contract is consideration. This means the offer is accepted and something is done in return.
Some contracts must be in writing. Here Is a great link to a website that will help you reinforce the elements of a contract.
http://jec.unm.edu/education/online-training/contract-law-tutorial/contract-fundamentals-part-2
Prof. McCool
Case Study Two: Quasi-Contract:
A quasi contract can be difficult to understand. A quasi-contract might seem like a contract existed but it really didn't. Courts do not want individuals to benefit when they really don't deserve it. Because a quasi contract is not a true contract, mutual assent is not necessary, and a court may impose an obligation without regard to the intent of the parties. The remedy is usually restitution. Liability is determined on a case-by-case basis. Here is very interesting link to Cornell Law providing a great example of a quasi contract. https://www.law.cornell.edu/wex/example/%5Bfield_short_title-raw%5D_121
Prof. McCool
Case Study Two: Rights and Obligations:
Case Study Two: Landlord/ tenant law is studied for a whole semester in law school! The rights and obligations of both the landlord and tenant depend upon the term of their contract. Such a contract may be verbal or in writing under the standard residential lease agreement. Some facts that may support that Sam is in a breach of that contract are that his use of the premises has created a nuisance for surrounding tenants by using his barking dog invention. Also if Sam and his landlord had a previous agreement that his apartment would be used only as a residence and not as a business location then he would be in breach of his contract and could be evicted
Case Study Two: Grounds to Evict
Sam’s landlord may have grounds to evict because Sam is may be causing a disruption to his fellow neighbors in the apartment building with his barking dog invention. This might be a violation of the covenant to quiet enjoyment. Here is the link that should be very helpful in understanding the right to quiet enjoyment.
https://www.landlordology.com/implied-covenant-quiet-enjoyment/
Prof. McCool
Case Study Two: Defenses:
Defenses are very important if any of these issues come to trial. Some defenses Sam might raise if his landlord tries to evict him include if they had already reached an agreement on him running a business from his apartment. Also when a landlord interferes with a tenant’s use and ...
Feedback for 5-2 Milestone Two Case Study TwoSubmission Feedbac.docxlmelaine
Feedback for 5-2 Milestone Two: Case Study Two
Submission Feedback
Hi China:
Case Study Two: There are four elements of a contract that make it legally binding. Without all four of these elements the contract will not stand in a court of law. The first element is the offer. The offer has a clearly defined time limit and a clear offer. The next element to a contract is acceptance. The offer must be accepted without conditions. The third element of a contract is intention of legal consequences. The final element of a contract is consideration. This means the offer is accepted and something is done in return.
Some contracts must be in writing. Here Is a great link to a website that will help you reinforce the elements of a contract.
http://jec.unm.edu/education/online-training/contract-law-tutorial/contract-fundamentals-part-2
Prof. McCool
Case Study Two: Quasi-Contract:
A quasi contract can be difficult to understand. A quasi-contract might seem like a contract existed but it really didn't. Courts do not want individuals to benefit when they really don't deserve it. Because a quasi contract is not a true contract, mutual assent is not necessary, and a court may impose an obligation without regard to the intent of the parties. The remedy is usually restitution. Liability is determined on a case-by-case basis. Here is very interesting link to Cornell Law providing a great example of a quasi contract. https://www.law.cornell.edu/wex/example/%5Bfield_short_title-raw%5D_121
Prof. McCool
Case Study Two: Rights and Obligations:
Case Study Two: Landlord/ tenant law is studied for a whole semester in law school! The rights and obligations of both the landlord and tenant depend upon the term of their contract. Such a contract may be verbal or in writing under the standard residential lease agreement. Some facts that may support that Sam is in a breach of that contract are that his use of the premises has created a nuisance for surrounding tenants by using his barking dog invention. Also if Sam and his landlord had a previous agreement that his apartment would be used only as a residence and not as a business location then he would be in breach of his contract and could be evicted
Case Study Two: Grounds to Evict
Sam’s landlord may have grounds to evict because Sam is may be causing a disruption to his fellow neighbors in the apartment building with his barking dog invention. This might be a violation of the covenant to quiet enjoyment. Here is the link that should be very helpful in understanding the right to quiet enjoyment.
https://www.landlordology.com/implied-covenant-quiet-enjoyment/
Prof. McCool
Case Study Two: Defenses:
Defenses are very important if any of these issues come to trial. Some defenses Sam might raise if his landlord tries to evict him include if they had already reached an agreement on him running a business from his apartment. Also when a landlord interferes with a tenant’s use and ...
Show me the money! Debtors in Chapter 11 cases cannot survive without money to continue operations, pay vendors and professionals, and work to restructure debt and/or sell assets. Where do those necessary funds come from? There are really only two sources – cash the debtor has or can generate (in either case, generally the collateral of the secured lender) or new money coming into estate in the form of a post-petition debtor-in-possession (DIP) loan. At the very outset of the case, a debtor must obtain a court order allowing it to use its cash when that cash is the collateral of a third party or must obtain authority from the court to borrow funds. In either case, what the debtor is permitted or not permitted to do can seal the fate of a case from the outset. As a result, the battles over the terms of the use of cash collateral or DIP financing are some of the most hotly contested in the Chapter 11 process. This webinar examines the issue involved and how the various constituencies fight about them.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/cash-collateral-dip-loan-contests-2019/
Stewart Strawbridge has been investing in commercial real estate over the last 8 years. This article explores the 10 biggest mistakes in real estate. These 10 scenarios should be considered before you invest in any real estate deal.
If you are behind on your mortgage and you’ve tried to reach someone at the bank to discuss your situation, then I am sure you are familiar with the run-around you get when you try to discuss your situation. It almost seems like they don’t want to help—one department doesn’t seem to have a clue what the other does or what is required. You can talk to 5 different people on five days in one week and get five different responses –to the same questions.
It’s enough to make you want to hurt somebody.
Instead of resorting to violence, may we suggest you call the GUARANTOR who insures your loan for some back up? Since they stand to lose the most if there is a foreclosure they have a vested interest in trying to facilitate a workout –if you have reasonable chance of being able to make the payment.
Additionally, if you’re trying to get a short sale approved and the lender/servicer is being unreasonable about the amount which is needed or has set some unrealistic stipulations for a closing, you could get support from this—YOUR SILENT PARTNER—in getting a resolution.
Vol. 04: PALM—Practical Applications of Loss MitigationMildredWilkins
It’s hard to make a choice about what to do if you don’t clearly know what your choices are. We want help by providing you with some basic information on the possibilities.
This one hour webinar is designed to give you clarity on the options you might consider if you are in default. Options for retention will be discussed as well the options if you are no longer able to afford your home and need to transition into other housing.
This webinar gives an overview of the most common options. For more details once you think you know which route you wish o take, we suggest you view one of the Intros about that specific option.
HOM INtro #75: Your Mortgage Documents...Filled with SurprisesMildredWilkins
Surprises usually make up happy but the potential surprises hidden in your mortgage documents could lead to anything from a mild headache to a full blown heart arrest. Imagine your surprise when you discover that yes, you can sell the house you bought 1 ½ years ago but there will be a $5,000 penalty for doing so if you hold the mortgage for less than 3 years. Imagine your surprise that after you notified the bank that you were moving out since you could not afford to catch up the payments you come home and discover that the locks have been changed and you are locked out of your home.
Surprises—unpleasant surprises—frequently prescribed by your mortgage documents—in language you never understood—but agreed to at closing.
Take a look now—so you can anticipate and make plans to offset the negative impact of potential surprises.
HOM INtro #28: Demand Your Note: A Foreclosure Intervention StrategyMildredWilkins
Show me the NOTE
One of the more successful strategies to avert foreclosure has emerged and is being used around the country by both attorneys who are representing clients facing foreclosure and individual consumers who are defending themselves is demanding that the lender/servicer provide the NOTE which demonstrates the party suing for foreclosure has the legal authority to do so.
So simplistic and yet overwhelmingly successful in case after case when it is has been used. Across the country consumers and attorneys (and the courts where foreclosures are processed) are becoming aware that all too often the foreclosing party has NO legal standing—NO right to foreclose.
Securitization has created scenarios where mortgages have been sliced and diced and sold in pieces so frequently NOBODY has clear, RECORDED, unequivocal ownership of your specific mortgage.
Do the research on MERS and the lawsuits and decisions recently on their right to foreclose. Check carefully your paperwork to see if the person who is threatening foreclosure is, in fact, the note holder of record in the recorder office.
In any case, demand the note. A “QUALIFIED WRITTEN REQUEST” is your most effective way to present this demand. Do independent research or get a copy of Webinar Vol. 13 for details on how to proceed.
2. Whether to settle or not, is the client’s decision. But… As their attorney you have a duty to inform. ABA Annotated Rules of Professional Conduct 11/2/2009 2 wbfazio@aol.com
3. A lawyer must tell the client enough about the “circumstances” of the settlement offer so that the client may consider alternatives including retaining other counsel or deciding not to settle. “Duty to inform” client of what? 11/2/2009 3 wbfazio@aol.com
4. 1. The client’s decision 2. The duty to inform 3. The circumstances Three post-settlement pitfalls 11/2/2009 4 wbfazio@aol.com
5. Are they aware of all options (cash, structured settlement, trust)? Do they understand them? Do you have it in writing? The client’s decision 11/2/2009 5 wbfazio@aol.com
6. Do you understand all of your client’s options? Do they need to be protected, is there a gal, what about public benefits? Are the technical issues (rated age, underwriter ratings, etc.) clear to you and your client? The duty to inform 11/2/2009 6 wbfazio@aol.com
8. Under what “circumstances” would you have failed in your duty to inform? A catch-all pitfall 11/2/2009 8 wbfazio@aol.com
9. A wealthy client who had been badly injured in an auto accident settles their case for $3 million dollars. Their attorney rejects structures as the client is sophisticated and can manage their own money. The client never sees any structure proposals. Ask yourself, was there a failure? 11/2/2009 9 wbfazio@aol.com
10. The defendant offers a structured settlement to a minor’s attorney and gal. the injured minor is on public aid. the parents reject the defense structure and petition the court to accept a cash settlement. Was there a failure? 11/2/2009 10 wbfazio@aol.com
11. Was there a failure? A minor plaintiff, with a family member appointed as guardian, is offered a structured settlement. The plaintiff attorney is directed to accept the offer, which they do and settle the case. 11/2/2009 11 wbfazio@aol.com
12. YES! In all three examples! The answer: 11/2/2009 12 wbfazio@aol.com
13. The client was not informed of the income tax and asset protection benefits provided by structured settlements. Despite the client’s financial savvy the attorney had a duty to inform. Wealthy Client. 11/2/2009 13 wbfazio@aol.com
14. By accepting a cash settlement the parents have eliminated their child’s eligibility for public aid. The attorney and gal failed to advise on this and offer a plan of their own that would have preserved the public benefits. Public Aid. 11/2/2009 14 wbfazio@aol.com
15. The attorneys failed in their due diligence to ensure that their client is receiving the best possible rate of return from the highest rated underwriter. Accepted Offer. 11/2/2009 15 wbfazio@aol.com
16. A lawyer must fully explain all ramifications of any offer of settlement. ----- ABA Center for professional responsibility: annotated rules of professional conduct. Looks like you’d better. Do you know it all? 11/2/2009 wbfazio@aol.com 16
17. They’re Real. Wealthy Client: liability on funds lost to taxes. Public Aid: liability on value of future medical care Accepted offer: liability on reduced annuity cost. 11/2/2009 wbfazio@aol.com 17
18. $ Measure of damages: Wealthy client: hundreds of thousands. public aid: more than four million. Accepted offer: more than fifty thousand. They’re Serious. 11/2/2009 wbfazio@aol.com 18
19. Use a settlement consultant. Put them to work with your other experts (life care planner, financial advisor, etc.). Have your consultant work directly with your client and provide written research, design criteria and proposals. They’re easily avoided. 11/2/2009 wbfazio@aol.com 19