Are you a Personal Injury Attorney?
Through LPL's relationship with AVITAS, a division of Millennium Settlement Consulting, we are uniquely positioned to provide innovative products and services to your practice. In a nutshell, there are two areas we can help.
ATTORNEY FEE DEFERRAL SERVICES
An attorney fee structure is a valuable method of deferring income and taxation on the current year's earned fees, while simultaneously guaranteeing future income for retirement, children's education, or other anticipated needs such as office space rent. An attorney may elect to structure his/her fees even if the personal injury victim does not structure a portion of their settlement.
The tax advantages when utilizing our attorney fee structure services can be tremendous with proper planning. By structuring your fees, you are deferring your current earned income and the taxes on that income. This can be very beneficial if you spread that fee over many years versus taking a big hit up front. In addition, you are deferring the taxation on any interest earned on the deferred income, again taking advantage of the power of tax deferral. This tax deferral strategy will greatly enhance the taxable equivalent return.
Once deferred, you will have the option on how to invest these funds. This is one of the many ways that set us apart. Some firms only show you one way that your deferred fees can be invested. We will be able to offer more investment options such as a conservative, secure fixed option or a portfolio of securities invested in the market if you prefer. We can discuss these investment options more in detail once we have an idea of your wishes.
STRUCTURED SETTLEMENTS
Together, we'll develop a plan designed to meet your clients' specific needs and to maximize the transactions while minimizing their tax impact. Some areas where we can help:
- The design and delivery of settlement proposals within 24 hours.
- Overall case assessment and help with technical issues that arise.
- Participation in mediations, arbitrations, and/or settlement conferences either live or via teleconference.
- The drafting and coordination of necessary settlement documents.
- Coordination with the life insurance carrier for policy issuance.
We are a fee-based, needs-based investment firm. We, therefore, have many settlement plan options available for your client:
- Up Front Cash
- Structured Settlement Annuity
- Life Insurance
- Long Term Care Insurance
- Securities
- Trust
By offering the financial planning piece to your settlement clients, you are setting yourself apart by showing that you care about your clients even after the settlement. By working with us, you're setting up your clients for a brighter future.
If you are currently working on a case, contact us today and we can run some complimentary hypotheticals to show you the potential impact of working with us!