Opinion
ROBERT R. POWELL, ESQ., DENNIS R. INGOLS, ESQ., BRETT O. TERRY, ESQ., LAW OFFICES OF ROBERT R. POWELL, San Jose, California, Attorneys for Plaintiffs.
[PROPOSED] JUDGMENT
VIRGINIA A. PHILLIPS, District Judge.
Plaintiffs herein, by and through their counsel, submitted a Request for Judgment ("Request") on May 24, 2015, setting forth a proposed distribution of the $1,000,000 default judgment the Court recently awarded to Plaintiffs as against Defendant Joshua Foster Family Agency.
Upon review of the file and consideration of the Request, the Declaration of Plaintiffs' counsel and supporting documentation submitted therewith, and noting the opposition and/or non-opposition of any Defendant, the Court does hereby find and order as follows:
GOOD CAUSE APPEARING,
1. The minor Plaintiffs' claims against Defendant Joshua Foster Family Agency have been decided by default, in the amount of $1,000,000.00, as set forth in the Order Granting Application for Default Judgment. (Docket #69)
2. Proceeds from the judgment are to be distributed as follows:
a. Plaintiffs' attorneys' are awarded $775.00 for litigation costs.
b. Plaintiffs' attorneys are awarded attorneys' fees equal to one-third of the net proceeds of the judgment (($1,000,000 - $775) * 1/3 = $333,075)).
c. Plaintiffs shall divide the remaining $666,150 as follows:
i. A.F. (m) shall receive $400,000.00, to be divided equally between The A___ F___ Special Needs Trust and an annuity. The proceeds of this Judgment payable to A.F. (m), including the initial lump sum payment of $200,000, and the future structured annuity payments (as described in the Request and accompanying documents), are irrevocably assigned to The A___ F___ Special Needs Trust.
ii. A.F. (f) and B.F. shall receive a combined $266,150.00, to be placed into matching annuities, such that the future payouts will be equal, and payable on their respective 30th, 35th, and 40th birthdays, as described in the Request and accompanying documents.
IT IS SO ORDERED.