In 2005, the New York State legislature amended EPTL 5-4.6 to create a mechanism pursuant to which plaintiff’s counsel in a wrongful death case is able to have the settlement sum paid into escrow after “settlement” has been reached in the trial court, but prior to the Surrogate having reviewed the settlement or the proposed allocation (between personal injury and wrongful death) and proposed distribution. Avoiding a Legal Malpractice Trap Created by a Legislative Oversight, discusses how the statute creates a potential legal malpractice trap when a structured settlement has been agreed upon between the parties in Supreme Court (or where a structure is in the best interests of the infant distributees of the plaintiff estate). Authored by Creative Capital's VP & General Counsel, Martin Jacobson, Esq., Avoiding a Legal Malpractice Trap Created by a Legislative Oversight, was recently featured in the Fall 2007 NYSTLI Bill Of Particulars.
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About the Author:
Martin Jacobson, Esq. is Vice President and General Counsel at Creative Capital - Structured Settlements. Marty is also a licensed attorney in New York and New Jersey with extensive trial experience in both the state and federal courts. Marty is a renowned lecturer on structured settlements and periodic judgments and regularly presents seminars to the bench, bar association groups and law firms.