Reasons to open a special needs trust

November 19, 2019

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

November 15, 2019

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

November 8, 2019

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?

October 31, 2019

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

October 11, 2019

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

August 29, 2019

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

August 12, 2019

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?

July 22, 2019

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

June 3, 2019

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?

May 28, 2019

This blog gives you a breakdown of the difference between an ABLE account and a special needs trust.  Read more