THE BURBANK GROUP
(MOST OF THESE PROGRAMS ARE DRIVEN BY NEW YORK 50A AND 50B VALUATIONS, AND IN THOSE CASES, VALUATION FILES ARE THE INPUT.)
Valuation and Structuring Tools under New York 50A and New York 50B
1.) New York ANNUITY BUYOUT CALCULATOR. Under the provisions of The Structured Settlement Protection Act, any party seeking to sell all or a part of an annuity, must first obtain an independent evaluation before obtaining any required Court approval. The evaluation systems will take the element input update it for payments made calculate the total amount to be sold and calculate an Internal Rate of Return based on that total amount and the amount to be received.
If our systems were employed to develop the Award and/or value it, we would have a data file from which the elements of future loss could be extracted and sale could be evaluated. We use the case identifier and access the case file, if the user has the file, he/she can employ 'Clear' then 'Input' and use the case identifier, and then Choose the Award scenario then 'Sale of Payments'. A list of elements of future loss will appear. Selection from the list will fill out the element detail. Upon selecting the element, selection/entry of proposed sale or sales, and the addition of expense items to produce a net to plaintiff.
A new user can contact us for an Identifier that will permit the opening of the sale of payments section. Then the user can Click on 'Clear', Click on 'Input' enter the Identifier and Click 'Input' Again. The result will be the appearance of a 'Sale of Payments' which, when clicked will produce a frame that has room for entry of future Award element data, selection/entry of proposed sale or sales, and the addition of expense items to produce a net to plaintiff.
2.) Evaluation of Annuities. The system will take offered annuities or generate a theoretical annuity cost, and compare them to Net Values or generate Net values using statutory inflation and discount rates. Total payments will be calculated, gains will be determined, and taxes will be calculated. The purpose will be to determine the value of any tax benefits of annuities and any values sacrificed in acquiring annuities.
3.) New York Period Certain or Period and Life Annuity Costs. This system takes a schedule of periodic payments and calculates a discounted vsalue, a theoretical annuity cost, calculates a theoretical annuity cost or uses a provided cost. The system calculates a tax benefit, and performs comparisons of value, cost, payments and tax benefits. If the future payment is declared permanent, the system will calculate life expectancy, and calculate a period certain and life annuity before performing the comparisons.
4.) Use of a Taxable Trust to Structure This system uses the total net valuation, from which any or all of the components can be selected. They are then incorporated into a taxable trust proposal that earnings based on AAA and BAA historical rates or averages, provides for taxes, administrative fees and tax preparation. A detailed annual schedule shows balances earnings, costs and payemtns.
[As the programs are Activex.vbd, they are temporarily downloaded to operate on the user's computer. In this way, none of the case information is passed to the internet, and the security level is the same as that provided by the user's computer. In addition, the programs are signed to assure their integrity. The security certificate is issued by COMODO. To access any of the programs, adjust security for all to either enable or prompt the various Activex options except unsigned. The user can choose to apply these adjustments to trusted sites or across the board. When first accessing a program, the system will advise the user that downloading can pose risks. 'Click' to continue and to 'Install'. This may result in a top banner, continuing the warning. 'Click' through that item, and a blue form will appear. Click 'Clear' and continue on. ] ]
Copyright � 1997-2010 The Burbank Group
Last modified: February6, 2008