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Securing the Financial Needs of Injury Victims and Their Families www.settlementplanners.org.

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Presentation on theme: "Securing the Financial Needs of Injury Victims and Their Families www.settlementplanners.org."— Presentation transcript:

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7 Securing the Financial Needs of Injury Victims and Their Families

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13 RSP DESIGNATION: The Registered Settlement Planner (RSP) designation is a professional certification awarded by the Registry of Settlement Planners (the Registry). The designation is awarded to those settlement planners who meet the high standards required of professional settlement planners and agree to abide by the ethical standards adopted by the Registry.

14 RSP CURRICULUM: The Settlement Planning curriculum is the product of collaboration between the RSP Board and the Personal Financial Planning Division at Texas Tech University. Although these classes do not carry degree credit, the rigor and quality of the coursework is intended to be at the master level and meant to challenge professionals with settlement planning experience.

15 PREREQUISITE, ENROLLMENT AND INSTRUCTION: Current employment as a settlement planner or closely associated field with settlement planning. Enrollment and instruction are through Texas Tech University, all by way of the Internet. No campus visits are required.

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28 RSP EDUCATION REQUIREMENT: The program consists of two courses. Each course is offered on a continuous basis and may be completed at the pace of the student. Successful completion of these two courses will meet the education requirement of the RSP designation.

29 FINANCIAL PLANNING AND LAW FOR SETTLEMENT PLANNERS: This course explores the theoretical and practical environmental framework of settlement planning. The most relevant parts of the legal and financial planning environment to settlement planning are discussed.

30 FINANCIAL PLANNING AND LAW FOR SETTLEMENT PLANNERS: Topics include: principles of financial planning, financial institutions, time value of money, trial procedure, property law, alternative dispute resolution, torts, wills and trusts, planning for incapacity, income and estate tax systems, investment principles, life insurance, annuities, and estate planning.

31 SETTLEMENT PLANNING SEMINAR: This course explores the emerging profession of settlement planning. Settlement planning is personal financial planning for a recipient of a legal settlement.

32 COMPREHENSIVE SETTLEMENT PLAN: Following completion of the two academic courses through Texas Tech University, the RSP candidate must prepare a comprehensive settlement plan, which is reviewed by a panel of peers. Upon successful completion of this requirement, including acceptance by the review panel, the candidate is awarded the Registered Settlement Planner (RSP) designation.

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38 We can help. Securing the Financial Needs of Injury Victims and Their Families www. plaintiffbroker.com When someone in your family is injured, you need financial help from someone who is… on your side.

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44 THE MISSION OF THE REGISTRY: To train, educate and certify settlement planning professionals who are uniquely qualified to competently and ethically assist injury victims, claimants and attorneys in resolving their legal financial claims. To further this mission the RSP Board will seek to promote recognition and awareness of the mark and to establish standards of competence and practice for the Registry.

45 GOALS OF THE REGISTRY: 1. Prepare settlement planners to provide competent, timely advice to clients. 2. Present attorneys with assurance that their selected advisor is competent and abides by a code of professional conduct. 3.Provide a measure of accountability to settlement planning practitioners. 4.Promote reliable standards of practice to enable clients and attorneys to know what to expect from a relationship with a settlement planner.

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57 SETTLEMENT PLANNING: Settlement planners help clients use their settlement proceeds to attain their financial goals. The settlement planner guides clients through financial decisions that they need to make at settlement. Settlement planning often involves helping clients avoid loss of government entitlements while protecting their recovery from dissipation risk, taxes, liens, and other hazards.

58 SETTLEMENT PLANNING: The settlement planner coordinates these efforts with other professionals including the plaintiffs legal team, special needs trust attorneys, trust officers, CPAs, and others. Settlement planning most often occurs within a unique and pressure-packed planning environment where clients must make decisions likely to impact the rest of their lives.

59 SETTLEMENT PLANNING: This environment places a premium on the ability of the planner to focus on the clients goals and needs, make the correct recommendations, and help the client implement the plan.

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65 The Standards of Professional Conduct for Settlement Planners are rules of reason and are intended to impose high standards of conduct on professional settlement planners who are providing settlement planning services to a claimant or obligor, or to an attorney acting on the claimant or obligors behalf.

66 They are, however, also intended to provide guidance to other professionals as they seek to ascertain their responsibilities when, in connection with the practice of their profession, they participate in the settlement planning process.

67 The Standards of Professional Conduct for Settlement Planners are subscribed to by members of the Society of Settlement Planners as a condition of joining and maintaining good standing in this organization.

68 Non-members who provide settlement planning services are not required to subscribe to the Society of Settlement Planners mission statement or to these standards, but they are encouraged to do so.

69 Compliance with these Rules depends upon voluntary adherence and, secondarily, upon reinforcement by peer and public opinion. A settlement planner is also guided by personal conscience.

70 Membership in this organization, including display of its logo on a members letterhead and business cards, is intended to convey to others that the member is committed to the high standards of conduct specified in these Rules.

71 Securing the Financial Needs of Injury Victims and Their Families

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77 BENEFITS OF MEMBERSHIP: Professionals with the RSP mark have set themselves apart from competitors with their educational attainment and commitment to the stringent ethical and professional standards of conduct set forth by the RSP Board. These practitioners demonstrate their commitment to furthering this profession. Members are encouraged to seek one another out and share resources and knowledge.

78 BENEFITS OF MEMBERSHIP: Completing the education requirement helps settlement planners develop and sharpen their skills and provides a firm foundation in the basic knowledge required to practice planning competently.

79 BENEFITS OF MEMBERSHIP: Professionals with the RSP mark have set themselves apart from competitors with their educational attainment and commitment to the stringent ethical and professional standards of conduct set forth by the RSP Board. These practitioners demonstrate their commitment to furthering this profession. Members are encouraged to seek one another out and share resources and knowledge.


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