The new year presents an excellent opportunity to reassess your financial strategy. Plaintiff attorneys have unique financial and tax-efficient options available to them. Here are some strategies to consider this year.
Tip #1: Establish your safety net
With favorable fixed annuity rates, now is the perfect time to create your financial safety net. A structured settlement annuity offers a guaranteed1 rate of return and tax-deferred payments. These payments can serve as supplemental income now or even into retirement. Utilizing structured settlement annuities for attorney fees is an effective way to protect yourself from economic instability.
Tip #2: Diversify your deferral
Plaintiff attorneys can also use contingency fees to fund a market-based structured settlement. This allows attorneys to benefit from potential gains tied to the stock market's performance.
Market-based structured settlements can help you achieve your investment goals by offering a range of model portfolio options managed by a financial institution experienced in settlement-related matters. Alternatively, you can have your financial advisor manage your market-based structured settlement investments.
Much like fixed annuity-funded fee deferrals, your market-based fee deferral provides tax-deferred payments.
Tip #3: Preserve your options
If you want to defer your fees, ensure that the final release includes language permitting you to do so. Even if your client does not use a structured settlement, you can still defer your fees if the appropriate language is included in the release.
Make Your Attorney Fee Deferral Plan Today
Sage’s settlement consultants have extensive experience establishing attorney fee deferrals using structured settlement annuities and market-based structured settlements. Before finalizing your next case, contact your Sage consultant for options tailored to your financial goals.
1 Guarantees are subject to the claims-paying abilities of the issuing insurance company.