Posted Jun 7, 2018

Valdez Team at Ringler - Structured Settlements in Las Vegas

Want to make the best out of your Attorney Fees? Then you’re in the right place. Below we will go over 3 key considerations you must keep in mind before moving forward with Structuring your Attorney Fees. 1- Make sure that the attorney elects to defer his/her fees before settlement. By doing this, the attorney will avoid any constructive receipt issues – and in doing so, will have a peace of mind regarding any tax concerns. As the attorney, if you are thinking about structuring your fees on a case – you should stay ahead of settlement and make sure you bring this up. Tip: A great way to be proactive in this regard is to simply have, within your fee agreement, something of the nature saying that the attorney may receive his/her fee in cash or as periodic payments. 2- Pay special attention to how the attorney’s firm is arranged. It is usually the case that structuring the attorney fees for solo practitioners is relatively simple. However, depending on if the attorney is a partner or not, if the firm is an S-Corp, LLP, etc. – there are further legal & tax matters to address. 3- Consider the choice that an attorney has in the vehicle that they decide to go with when structuring their attorney fees. Traditionally, an Attorney Fee Structured Deferral would be placed via a fixed annuity product through a Life Insurance Company. However, with different products and providers out there – there is a market for alternative. For more visit our blog, link below