219. As a Claimant, will my award be issued to my lawyer or directly to me?
If you are represented by a lawyer and entitled to an award, the Trust will issue your payment to your law firm. Your law firm will then pay funds to you according to whatever representation agreement you have in place.
If you are not represented by a lawyer, the Trust will issue your payment directly to you, in accordance with the payment instructions you provided on your Payment Election Form.
224. What is Zelle®?
Zelle is a payment app that allows you to send and receive money from your mobile device. You may access Zelle through your bank’s website and mobile app (if offered) or through the Zelle app linked to your debit card. To set up a Zelle account, contact your bank or financial institution. If you select the Zelle payment option, you agree to be bound by the Zelle Network® User Service Agreement. If you select payment by Zelle, you must sign up for Zelle via the Zelle app or website before the Fire Victim Trust issues the payment. Check with your bank or financial institution for any payment or credit limitations that may prevent the Zelle payment from being sent to you successfully.
228. Will the Trust issue a Form 1099 to me for payments that I receive from the Trust?
If you are represented by an attorney, the Trust will issue a Form 1099 to your law firm for your total award amount, regardless of which Claim Types your award represents, for all Preliminary Payments and pro rata payments upon Final Determinations made within the given tax year. If you are not represented by an attorney, the Trust will issue the Form 1099 directly to you to the extent the underlying award(s) are potentially subject to IRS reporting requirements. It is your responsibility to make appropriate disclosures when and where necessary to the IRS and/or state taxing authorities. If you have questions about your potential tax obligations, you should consult with your tax advisor, CPA, or tax preparer.
229. Does the Trust have a procedure in place for an individual law firm to establish and receive payments through a qualified settlement fund (QSF)?
Yes. If an individual law firm determines it would like to establish a qualified settlement fund on an individual firm basis for Fire Victim Claimants, some of whom may be minors or adult persons with a disability, that law firm must follow the procedures outlined in Special Master Order No. 1: Procedure for Filing Qualified Settlement Fund Motions. The Procedure for Filing Qualified Settlement Fund Motions provides guidance and detail on this subject.