An Act relative to structured settlement payment protections

HD 3829 strengthens protections for individuals receiving structured settlement payments (like injury compensation paid over time), particularly affecting minors under 18 and people with cognitive impairments such as dementia or intellectual disabilities. The bill requires court approval before any transfer of these payments can occur, mandating detailed financial disclosures to payees about fees, discount rates, and net payments. It also requires transferees (companies buying payments) to provide written notices and ensure payees receive independent professional advice before agreeing to transfers. These provisions aim to prevent exploitation by requiring transparency and judicial oversight for all such transactions.