In re the Estate of Green
This proceeding involves an uncontested application for leave to settle and compromise a wrongful death action stemming from a fire on December 4, 1980, which resulted in the death of the decedent, survived by a spouse and three children. The proposed structured settlement totals $5,650,000, comprising a cash payment and annuities purchased through Metropolitan Life Insurance Company, designed to provide guaranteed periodic payments of $37,674,000. The court addresses several issues, including the propriety of attorney's fees, the allocation of annuity costs among beneficiaries based on the Kaiser formula, and potential modifications to equalize shares among the children. The court found the proposed allocation unacceptable as it granted the widow significantly more than her Kaiser share and penalized the children, and also identified drawbacks in the guardian ad litem's suggestion due to its impact on the youngest child from inflation and a substantial reduction in their Kaiser entitlement. The decision concludes by proposing modifications to the guardian's plan, including increasing annual support and adjusting shares between the middle and youngest child, and ultimately remands the matter for reconsideration due to the changes affecting the parties and the widow's annuity.