Joe Schmoe
Member
What is the name of your state? Texas
I am asking this on behalf of my step-mother, Debbie.
3 years ago Debbie was hit in rear by a truck belonging to our local Coca-Cola company and driven by a company driver. She sustained back injuries and has had 2 back surgeries in the past 3 years. Friday they have finally came to a settlement agreement in the amount of $425,000.00. Her lawyer has advised her to accept this.
She has right at $100,000 in medical bills that she will have to pay back. Also, after her lawyer takes his share, she will receive approximately $175,000. This is our question:
***The settlement amount includes $100,000 of this money to be put in an annuity, either 20 yrs or lifetime (her choice), but the annuity will be under the control of Coca Cola Co. I have personally never heard of this practice and we are wondering if this is common, and if so, what is the purpose?
Thanks in advance for your replies.
I am asking this on behalf of my step-mother, Debbie.
3 years ago Debbie was hit in rear by a truck belonging to our local Coca-Cola company and driven by a company driver. She sustained back injuries and has had 2 back surgeries in the past 3 years. Friday they have finally came to a settlement agreement in the amount of $425,000.00. Her lawyer has advised her to accept this.
She has right at $100,000 in medical bills that she will have to pay back. Also, after her lawyer takes his share, she will receive approximately $175,000. This is our question:
***The settlement amount includes $100,000 of this money to be put in an annuity, either 20 yrs or lifetime (her choice), but the annuity will be under the control of Coca Cola Co. I have personally never heard of this practice and we are wondering if this is common, and if so, what is the purpose?
Thanks in advance for your replies.