What are "No-Fault Benefits"?
March 29, 2011 | Adriel B. VillarrealIf you have been injured in a motor vehicle accident you are entitled to benefits through your insurance company. These benefits are called “No-Fault Benefits” or “Personal Injury Protection Benefits.” As the insured of your policy you may be entitled to them regardless of who was at fault in the automobile accident. Minnesota Statutes provide that all motor vehicle owners must have no-fault coverage for any vehicles operated in Minnesota. These no-fault benefits are available to the insured even if the accident occurs in a state other than Minnesota. Basic No-Fault Benefits consist of the following: $20,000.00 in medical benefits. Medical benefits may include doctor’s examinations/treatment, mileage reimbursement due to medical visits, interpretation services, prescription reimbursement, etc. $20,000.00 in income loss, replacement services, funeral expenses, and survivor’s losses. Replacement services may be claimed if your doctor recommends that you do not perform household duties due to your injuries. As no-fault benefits are available due to an injury, the insurance company can decide to investigate if the insured is entitled to any or additional benefits. This process will begin with the scheduling of a medical examination by an independent medical provider, hired by your insurance company. According to the doctor’s opinion the insurance company may deny payment of additional or past medical bills or…
Read MoreIt'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.
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