1. St James Assignment Corporation www.stjames.bb
St James Assignment Corporation Structured Settlements Assignment Program
Assignment obligations are backed by Annuities from St. James Assurance Corporation, a Barbados QIC
Copyright 2010
St James Assignment Corporation

2. Structured Settlements Assignment Program Overview
Step 1
QSF/Defendant/Insurer assigns obligation for periodic payments due to Attorney/plaintiff, to the Assignment Company.
Step 2
Assignment Company accepts assignment for future periodic payments obligation and purchases a funding asset (annuity) to match obligation.
Step 3
Asset provider (Annuity company) provides funding asset and makes payments when due to either the Assignment company that owns the asset or, on direction of the Assignment Co, makes payment directly to the Attorney.
Step 5
Attorney/Plaintiff receives periodic payments when due from either:
the Assignment Company or;
the asset provider on the direction of the assignment company.
Tax reporting for the amounts received on IRC 1099 MISC follows annually from remitter, asset provider or the assignment company.
Step 4
Asset provider invests in desired risk portfolio instruments as set out in the Settlement Agreement and Assignment Agreement governing the fees and assignment.
Copyright 2010
St James Assignment Corporation

3. Types of Cases Accepted
Discrimination
Contract Disputes
Non-Physical Injuries
Punitive Damage
Sexual Harassment
Civil Rights Violation
Environmental Litigation
Legal Malpractice
Construction Defects
Divorce (Child Support & Property Division)
Property Disputes
Attorney Fees on IRC S104 qualified cases
Note: The underlying criteria for accepting a case is the evidence of a dispute. If you have a case that falls outside of those above, please call us to discuss.
Copyright 2010
St James Assignment Corporation

4. St James Assignment Corporation www.stjames.bb
Annuity Underwriting
Choice of Fixed Income or Variable Annuity
Minimum Premium is $2M
Maximum annuity term – 25 years
Minimum deferral – 5 years
Earliest 1st payment – year 6
Only annual lump sums
Special language required in Settlement Agreement for fixed or variable annuity payouts
Beneficiary Designation allowed
Copyright 2010
St James Assignment Corporation

5. St James Assignment Corporation www.stjames.bb
Annuity Investing
St James can arrange suitable investments through a leading investment bank and full service investment firm which is familiar with the proposed arrangement, or, if preferred, through a suitable investment firm with whom the attorney has an existing relationship.
Variable Annuity
– customized to suit the risk tolerance of the client, using mixes of low risk and equities instruments determined by settlement agreement and risk profile of payee.
Fixed Income Annuity
– can be customized also.
Copyright 2010
St James Assignment Corporation

6. Security of Investment
Premiums are invested by a leading investment bank and full service investment firm in the US.
Funds never leave the US.
Premium is deposited into SJ Assignment’s account with the investment bank, then transferred to SJ Assurance’s account, also with the investment bank. In both Assignment and Assurance the transactions are maintained in separate accounts specific to that case and policy, as per the assignment and annuity contracts.
Investments are designated by the investment bank as St. James Assurance for the benefit of each specific policy or account.
Payouts are made directly from investment bank to annuitant.
All funds or investment assets are protected and preserved at all times by separate account legislation that governs both Assignment and Assurance.
Assurance is regulated by the Supervisor of Insurance of Barbados.
Copyright 2010
St James Assignment Corporation

7. ‘Separate Account’ Legislation
The Barbados Companies Act provides for companies to be formed and registered as ‘separate account’ companies, whereby the assets and liabilities of each account are segregated one from the other, and from the assets and liabilities of the core company.
As a result, investments held by separate account companies in separate accounts for designated individual annuity/insurance contracts are protected from general creditors of the company, as well as from claims against another account.
Both St James Assignment Corporation and St James Assurance Corporation are separate account companies.
St James Assurance Corporation is also a Qualified Insurance Company (QIC) and files audited Financial Statements with the Supervisor of Insurance annually.
Copyright 2010
St James Assignment Corporation

8. Document Requirements
Assignment and Release Agreement
Settlement Agreement
IRS W-9
Hold Harmless Agreement (for Attorney Fees)
Trust Agreement (if applicable)
Court Order (if applicable)
Copyright 2010
St James Assignment Corporation

9. St James Assignment Corporation www.stjames.bb
Tax Reporting
The full amount of all benefit payments will be reported via an IRS 1099MISC annually to the annuitant, as they are made for all cases except Divorce - Property Division and Child Support.
For Divorce Cases – Property Division and Child Support, only the interest / gain above the premium invested will be reported annually via an IRS 1099MISC, when the payments are made to the payee.
Copyright 2010
St James Assignment Corporation

10. Benefits of the Program
Investment of pre-taxed dollars
Tax deferral until payments are received
Flexibility
Asset protection
Copyright 2010
St James Assignment Corporation

11. St James Assignment Corporation www.stjames.bb
Dollars and Sense
Copyright 2010
St James Assignment Corporation

12. St James Assignment Corporation www.stjames.bb
Power of Deferral
Copyright 2010
St James Assignment Corporation