If the plaintiff negotiates in terms of how much the defendant will spend, in present-value dollars, is there constructive receipt?
No. There are two private rulings on this: “[D]isclosure by defendant of the existence, cost, or present value of the annuity will not cause you to be in constructive receipt of the present value of the amount invested in the annuity.” [Priv. Rul. 83-33035.] “[K]nowledge of the existence, cost, and present value of the annuity contract used to fund the settlement offer…will not cause the family to be in constructive receipt of the amount payable under the annuity contract or the amount invested in the annuity contract.” [Priv. Rul. 90-17011.
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