In April 2016 the U.S. Supreme Court upheld a 2012 law passed by Congress making it easier for the families of those killed in terrorist attacks to obtain compensation. This historic decision has paved the way for families who lost loved ones through acts of terrorism to recover against the sponsors of such violence.
One such event occurred on October 23, 1983, when two trucks laden with explosives were driven into the midst of the U.S. Marine barracks in Beirut, Lebanon. Terrorist drivers then detonated the mobile bombs, taking the lives of 241 U.S. servicemen and injuring another 138 Americans in the blast, making it the deadliest single terrorist act against U.S. citizens prior to the September 11th attacks.
In 2001 the families of those killed, in conjunction with some of the survivors, filed civil suits against Iran for wrongful deaths due to state-sponsored terrorism. Battled out in court for years, a 2012 ruling declared that Iran would be held responsible for more than $813 billion in damages to those hurt by the event. How the plaintiffs would recover such funds was unclear, until recent events.
In a landmark decision, the U.S. Supreme Court declared that nearly 2 billion dollars in Iranian frozen assets would be available for disbursements.
News & Developments
One has to realize the Beirut bombing is a wound yet to heal for hundreds of families. For the majority of three decades, these families and survivors have doggedly pursued litigation against the perpetrators of this act, only recently realizing the potential of reparation.
Here you will find key information detailing the ongoing struggle as these people have sought justice within the United States court system.
With the potential for large sum awards going to families who lost loved ones, now is the time to consider how best to manage these payouts. A structured settlement is ideal in such a situation, as there are inherent tax benefits and investment potential that can offer fixed financial earnings for some time to come.
Milestone Consulting is proud to offer pro bono structured settlements* to any and all families of these fallen Marines and other servicemen. We invite you to use this website as a resource for both information and planning. Just remember that Milestone is always here to help, whether it’s assistance with a settlement solution now, or with your family’s financial security moving forward.
Choose the Settlement Structure that Best Benefits You
Structured settlements are more than simply structuring a payout; they’re about planning for the future. Plaintiffs should realize the value of both a structured settlement and the relationship they have with their settlement planner. From current to future medical bills, to education, security, retirement, or other desires, Milestone Consulting can help secure what matters most.
By taking the guesswork out of settlement planning and guiding you through this difficult transition, we can help ensure a lifetime of financial security for you and your loved ones. Make sure your journey through life is covered by the life of your settlement — take your first step by contacting Milestone.
The Peterson fund was established pursuant to the 2013 court order by Judge Forest of the Southern District of NY. The fund is a trust under New York law, and all of its assets remain under the jurisdiction of the court which established it.
All government benefits should be carefully considered prior to receiving any money. Medicaid, SSI or Social Security Income, Food stamps and housing benefits are common benefits that will be affected.
This is the form that you will receive and must return in order to receive your distribution. You will be asked to elect a cash payment, payment to a special needs trust, or that you are electing a structured settlement.
Each family and surviving Marine should consult with who they feel most comfortable with, and who has a track record for working with trial attorneys and military families. Milestone is appointed with USAA, Metropolitan Life, Prudential Life, New York Life, Liberty Mutual, Pacific Life, Mutual of Omaha and MassMutual Life.
Generally, awards and settlements from injury or death are tax exempt.** If properly arranged, a structured settlement will pay both principal and interest tax free to the payees.
Robert W. Wood, one of the most widely published and recognized tax authorities in the United States, has written an informative article on the unique intricacies of terrorism litigation against a foreign state:
A graduate of United States Military Academy at West Point, John Bair served as an AH-64 attack helicopter pilot in the U.S. Army as well as a Captain in the 142nd Aviation Regiment of the National Guard. A natural leader, John has also led the settlement planning industry since leaving the military.
John’s desire to help those in need has led to representing family members of those lost in the crash of Continental Flight 3407 as well as offering pro bono services to the families of victims of 9/11. In addition, his passion for consumer protection has helped drive the creation of state and federal legislation that led to the Structured Settlement Claimants Rights Act of 2012 — the first-ever consumer protection bill for plaintiffs.
Committed to providing each client with the best possible representation while safeguarding their legal, financial and emotional well-being, John has worked in the settlement management industry since 1999 — guiding thousands of families through the transition from litigation to future financial benefits.