Structured settlements vs. lump sum payouts

In cases of personal injury, when the resolution occurs, there are several options for the settlement. Two of these options include a structured settlement or a lump sum payout. Both options have advantages and disadvantages, and the right choice entirely depends on the plaintiff’s specific circumstances and their confidence in their money management abilities. Learn…  Read more

How Michigan fell short in protecting sex abuse survivors

This year, we saw unprecedented efforts to help protect survivors of sexual abuse. In New York, the Child Victims Act now allows people who were victimized as minors to seek justice against their abusers until age 55 in civil cases and age 28 for criminal cases. A new California law gives survivors until age 40…  Read more

Seeking closure after a sex abuse lawsuit settlement

Through the years, our firm has helped many people plan for settlement in sexual abuse cases, including those involving the Boston Archdiocese and Boy Scouts of America, as well as the more recent Michigan sex abuse scandal. By guiding these plaintiffs as they plan their financial futures, we hope to provide just a little positivity…  Read more

Year-end Planning for Attorneys

As most mass tort lawyers know, there is a significant advantage to having clients’ settlement monies and their fees in a qualified settlement fund (QSF). For strategic settlement planning, most lawyers who refer their mass tort cases, or those who have solely a single-event tort practice, would benefit from knowing the inner-workings of QSFs and…  Read more

Reasons to open a special needs trust

A special needs trust is a valuable financial option for certain individuals and families, but the details can seem daunting. Special needs trusts are established to work with need-based programs—they’re intended to help pay for necessities that government benefits don’t cover. These trusts can be established in certain scenarios for any person with special needs…  Read more

Plan for future wealth by deferring fees

Cash flow is not always opportune for attorneys who work on a contingency basis. Income can arrive sporadically, even when a law firm is seeing consistent success. To top it off, a large incoming fee can put a lawyer into a higher tax bracket. This roller coaster of a financial situation can be nerve wracking…  Read more

Keeping benefits with a special needs trust

For many injured plaintiffs and their families, a personal injury lawsuit is their first experience in the legal world. Upon hiring an attorney, it’s a deep-dive into the world of litigation: depositions, negotiations, maybe a jury trial. Settlement talks make it seem like a welcome reprieve is on the horizon (finally, it’s almost over!), but…  Read more

What is a structured settlement?

When an injured party wins a settlement as the result of a lawsuit, it doesn’t necessarily mean their struggles are over. How to responsibly budget and spend their new settlement monies poses a challenge, but—depending on the type of case and the plaintiff’s individual circumstances—a structured settlement may be the answer. What is a structured settlement? In…  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