Hon. Larry G. Axelrood, (Ret.), senior mediator and arbitrator at ADR Systems, will present on Court Approval of Structured Settlements at the National Structured Settlement Trade Association’s (NSSTA) 2019 Fall Educational Conference on Oct. 16th in Chicago.
“I’m excited to share this information with more lawyers because I believe it will help them better understand opportunities for structured settlements in complex cases,” said Judge Axelrood.
Judge Axelrood will present alongside Hon. Christopher E. Lawler and Hon. Karen L. O’Malley, both of the Circuit Court of Cook County.
“I hope judges and lawyers will look to the protection of the plaintiff by utilizing the benefits of a structured settlement,” said Judge Axelrood. “Judges should be mindful of the option to place some of a settlement’s proceeds into a structured account to ensure that the proceeds of the litigation benefit the plaintiff long term.”
Structured settlements provide plaintiffs with several assurances, according to the NSSTA website. They are assured of a secure and reliable income, income tax exemptions on settlement payments for many claims and flexibility in the design of payment plans.
Payment plan flexibility additionally offers advantages to the defense. Namely when a structured settlement would cost less than a lump sum, and when a structured settlement enables a case to be settled in a way that would not be possible through a lump sum because of issues of liability and the settlement’s size, according to James C. Moore in Structured Settlements: Considerations for Defense Counsel.
Judge Axelrood has extensive experience with medical malpractice, nursing home, railroad, legal malpractice, premises liability, construction and personal injury matters. Having served on the Evanston Police Pension Board and the Illinois Judges Association Pension and Benefits Committee, Judge Axelrood also has in-depth experience with pensions and their impact on various types of cases.