It's My Money and I Want It Now – But Should You Do It?
March 16, 2011 | John T. BuchmanThere have been many t.v. ads from J. G. Wentworth and others urging people with structured settlements to convert them to cash now. These ads feature comments like, “It’s my money and I want it now.” For some it may be a good decision, particularly if they are in financial distress without any other options. A structured settlement is one that pays an injured person over a period of time rather than a one-time payment upon conclusion of a settlement. I have represented many people who have suffered injuries from car crashes in the Coon Rapids/Blaine area as well as in greater Anoka County, who have opted to explore a structured settlement. I also represented a client who suffered a brain injury at a construction site accident in Blaine, for which it worked out very well to purchase a structured settlement. Such settlements are common in cases involving injuries to minors as well as people with serious or catastrophic injuries. The advantage of these was that they can provide prudent financial counseling for young people, who may not otherwise make the best decisions about having a significant sum of money when they turn 18, or for those whose injuries have impacted their ability to earn a living and this becomes an income substitute….
Read MoreBGS Attorney William F. Huefner a 2011 Five Star Wealth Manager
March 1, 2011 | Barna, Guzy & Steffen, Ltd.Congratulations to BGS Attorney William Huefner who was named a 2011 Five Star Wealth Manager by Crescendo Business Services in January’s Mlps-St. Paul Magazine and Twin Cities Business. Bill is a shareholder in the firm’s Estate & Tax Planning/Probate & Trust areas of law. He has professional experience as a former IRS Agent and as a Certified Public Accountant (inactive). This experience assists him in understanding the issues of today’s clients and helping them plan for the future of their estates. Crescendo Business Services chose the 2011 Five Star Wealth Managers based on a random survey of over 96,000 high-net-worth households and all identified FINRA registered representatives within the Twin Cities area. Before finalizing the list, wealth managers were reviewed by a blue ribbon panel of individuals from within the financial services industry. The honor of being named a 2011 Five Star Wealth Manager then goes to an elite group, representing less than 5{a0c01d20c42349884e67ff80c137866b0a9fe47aaae8f8a86a605a369ae487c3} of the existing wealth managers in the Twin Cities area.
Read MoreLawyers and Advertising
February 16, 2011 | Jon P. EricksonAll Minnesota lawyers are required to conduct their professional activities consistent with the MN Rules of Professional Conduct. These are often referred to as the “Canon’ of Ethics.” These rules/canons cover a wide range of activities including advertising, and direct communication to the public about legal services. The rules on advertising and direct communication can be found in Rules 7.1–7.5 of the MN Rules of Professional Conduct. Rule 7.3 sets out the restrictions on how a lawyer or law firm may have direct contact with a potential new client to solicit a case or legal representation. Some lawyers send out letters and brochures to injured people whose name they get from a public list. This written communication must identify itself as “advertising material.” A lawyer can contact a potential new client directly if that lawyer has a “family, close personal or professional relationship” with that person. Lawyers at BGS tell staff, family, neighbors and friends because of our personal and professional relationships with them, to let us know if they or someone they know has been in an accident and injured in some way. If they know someone injured, we then would ask our staff, family or friend to contact the injured person to get permission for one of our personal injury lawyers…
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