What is a qualified settlement fund?

A qualified settlement fund is a trust or account that holds proceeds from a mass tort litigation settlement in escrow. Escrow is an arrangement by which a third party receives, holds, and distributes money based on a contract. This way, the settlement administration stays organized, and the attorney has more time to counsel their client…  Read more

Taxation of structured settlements

When a plaintiff sues a defendant for a personal injury, wrongful death, or illness, the defendant often offers the plaintiff a settlement to avoid going to trial. Structured settlements are an option that many plaintiffs choose in order to better manage their money and avoid extra taxation. Structured settlements are most beneficial for large settlements.…  Read more

Job half done: Challenging the status quo for trial lawyers

Trial lawyers are not pilots – at least, not usually. However, most of them do fly for work, and often. I flew AH64 Apache helicopters for the U.S. Cavalry in the 1990s. Every one of my flight instructors – many of whom were Vietnam veterans – reminded us that taking off is optional, but landing…  Read more

From the outside looking in: A ‘non-lawyer’ perspective of Trial Lawyers Care

The American Association for Justice’s (AAJ) Annual Convention is often hosted in a place where you would want to vacation: Maui, Los Angeles, Montreal, San Francisco, and this year, San Diego. Lawyers and vendors fly into these cities for a whirlwind of a weekend. AAJ members attend CLEs, seminars and receptions, meet with committees to…  Read more

Which special needs trust is the right fit?

People with special needs have a variety of financial planning tools available to help them protect their government benefits eligibility and their income. One of these tools is a special needs trust, which allows those who are classified as disabled to access the proceeds of a settlement they may have while keeping needs-based government benefits…  Read more

What a qualified settlement fund can do for defendants

Last week, we discussed the benefits of a qualified settlement fund for attorneys, particularly those who represent people in personal injury cases. We noted that they’re also useful for mass tort lawyers and those who work on cases involving issues like sexual harassment, employment discrimination, wrongful death, and others. But it’s not just attorneys who…  Read more

Is an ABLE account a special needs trust?

As financial experts, we have to say it: Every person should do their due diligence to plan for a successful financial future. Planning is even more critical for those with special needs; we see the importance every day in our work at Milestone. In addition to providing financial security, proper planning ensures lifelong care and…  Read more

Benefits of qualified settlement funds for personal injury lawyers

If you’re a trial lawyer representing injured plaintiffs, no one needs to tell you that catastrophic injury litigation is complex — from the initial consultation to long after a case settles. After representing a client, often for years, reaching resolution is not the end of the task. To continue protecting a client’s future as settlement…  Read more