Must-have Planning Tools for the Roundup Settlement
Planning for the Roundup settlement
If you’re part of the multibillion-dollar Roundup settlement, the time is now to consider smart planning options. As with any large mass tort litigation, managing many plaintiffs and moving parts is complex, especially come settlement time. The tools below can help you stay organized with your case inventory and ensure your clients receive the due diligence necessary to secure their financial future with this settlement.
Settlement planning tools for your individual Roundup clients
There are many options when planning for a plaintiff’s future financial security. Depending on the individual’s unique challenges, needs, and goals, one or a combination of the following may be beneficial:
- A structured plan, such as an investment-backed structure or traditional annuity
- Government benefits compliance through a special needs trust or ABLE account
- A Medicare set-aside, if necessary, for Medicare beneficiaries
Milestone has the knowledge and experience to ensure your client’s settlement is as meaningful as possible both now and in the future. Contact us today to learn more about our services.
Utilizing the planning power of a qualified settlement fund in the Roundup litigation
A qualified settlement fund (QSF) gives both plaintiffs and trial lawyers time to thoughtfully address the important decisions regarding settlement. After the QSF is established, the defendant can pay into the fund and be released from the litigation. Attorneys and their clients can then plan for the influx of income they are both anticipating: the settlement and the attorney’s fee(s).
Your QSF administrator
Milestone can establish your qualified settlement fund as well as:
- Provide QSF petitions, orders, and/or escrow agreements for review and approval.
- File petitions for court approval.
- Partner with top nationally- and internationally-accredited banking institutions.
- Provide your firm with an accounting of assets upon request.
- Obtain a Tax Identification Number from the IRS.
- Issue 1099 forms for attorney disbursements.
- Perform ongoing settlement fund accounting and reconciliation.
- Distribute firm fees and expenses and claimant settlement funds per written firm payment instructions.
By working with Milestone, you can ensure that your clients receive proper guidance and education before their settlement money arrives, so they can plan how they will manage their funds upon receipt. Simultaneously, you can strategically plan for how and when you want to receive your fees.
Selecting a QSF co-administrator in the Roundup litigation
As a Roundup mass tort lawyer, you are not required to use the global administrator that is appointed through the Master Settlement Agreement (MSA) in the Roundup litigation. Rather, you have the ability to select a co-administrator for certain specific administrative functions at settlement.
The MSA will outline a global administrator to take care of multiple functions like revenue generation on the deposit, lien resolution, data intake and management, records retrieval, claims processing, client disbursements, fee and expense disbursements, accounting, and more. While all of these functions are critical, some specifically demand specialists if you want to guarantee proper performance. Many mass tort attorneys hire Milestone to co-administer parts of this complicated process, and by doing so, they put their clients first while making the settlement process easier for the entire plaintiffs’ team.
Fee deferral strategies for Roundup attorneys
If you are an attorney set to recover significantly in the Roundup litigation, it’s critical to consider fee deferral for wealth management. Leveraging pre-tax investing and tax spreading can significantly reduce or eliminate the taxation of the fees associated with Roundup.
A fee deferral is an investment strategy that allows an attorney to decide how and when they receive their fee. This strategy involves an obligation set forth in a release to a qualified settlement fund trustee or defendant. It gives an attorney the opportunity to invest and receive their money over time, with tax advantages and income control.