Proper Rule 11 language will allow your client some breathing room after mediation to develop a personalized settlement plan, and permit them to choose which annuity companies or trust companies, if any, will be used to fund their future payments.
By not including appropriate conditions of settlement you may unknowingly be relinquishing control of the settlement planning process to the defense, which may limit your client’s choice of companies and products. The following is an example of such language:
The parties agree to settle this matter (or, “Plaintiff agrees to release Defendant”) for cash, and future periodic payments, if any, with details of same to follow within 14 days. All of the above to cost Defendant $_______, and will be paid in full by Defendant within 30 days of receiving payment instructions from Plaintiff. If future periodic payments are desired for either the Plaintiff or his/her attorney, Defendant and/or defendant insurer will fund such future payments with a structured settlement annuity(ies), and agree as follows: The structured settlement will be designed by plaintiff and plaintiff’s settlement planner. The funding vehicle(s) and company(ies) used to fund any future payments will be of plaintiff’s choosing; plaintiff’s settlement planner will handle the placement of any premium to fund any future payments; and, Defendant and/or defendant insurer will cooperate fully in executing the documents necessary to implement the structured settlement.
