Settlement Planning Tips for Personal Injury Attorneys

Using a settlement protection trust is common for cases involving minors. However, it can also be an effective planning tool for adults as well. In this episode, Greg Maxwell shares when a settlement protection trust may be a good idea for an adult client. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Rev...

In a first-party special needs trust, where does the money go if the client passes away and there are funds left in the trust? In this episode, Greg Maxwell discusses the mandatory Medicaid Payback Provision found in first-party special needs trusts. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review th...

If you are a personal injury attorney looking to efficiently plan for retirement, you have access to a unique planning opportunity. In this episode, Greg Maxwell shares how investing pre-tax and tax-deferred (using a deferred compensation plan) can help you significantly increase your retirement nest egg. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any quest...

Settlements can be quite tricky whenever you have a client that’s on Medicaid, and it’s a topic that personal injury attorneys often ask our firm about. In this episode, Greg Maxwell discusses the two most common types of Medicaid and what you can do to avoid getting your client kicked off of Medicaid after settlement. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you...

Plaintiff attorneys sometimes ask us, “I really want to defer my fees, but I’m not a partner in the firm — what now?” In this episode, Greg Maxwell reveals how you can still defer your legal fees — even if you're not a partner in your firm. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast...

Setting up a special needs trust is a common option to preserve your client’s Medicaid or SSI benefits.  In this episode, Greg Maxwell discusses what steps you need to take in order to correctly set up a special needs trust for your client. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast...

“If I send my client a settlement check, how will that affect their Medicare benefits?” In this episode, Greg Maxwell shares what will happen if you send a settlement check to a client who is on Medicare.  Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— https://amicus.llc/review ⁠— Joi...

“How do distributions work for deferred compensation plans?” In this episode, Greg Maxwell gives a detailed overview of how the payout period works if you choose to defer your contingent legal fees to future tax years using a deferred compensation plan.  Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Revie...

Do you have a client who won't return your calls? This might be the reason...  In this episode, Greg Maxwell shares one of the common reasons clients may not be returning your calls. (Hint: it has to do with their government benefits.) Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— ht...

If you have a client who is on Medicare (or will soon be entitled to Medicare), it’s important to determine if you should set up a Medicare Set Aside account for them. In this episode, Greg Maxwell sheds some light on whether an MSA is required and what it means to consider Medicare's future interest. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions...

Deferred compensation plans are a tax planning tool that over 90% of Fortune 500 companies use for their executives. Did you know that attorneys use this tool as well? In this episode, Greg Maxwell discusses how deferred compensation plans can used by contingency fee-based attorneys to minimize income taxes (just like the Fortune 500 CEOs). Contact Greg Maxwell at (801) 683-7362 or at Maxwell@Amic...

Clients receiving SSI benefits can lose those benefits when you send them their settlement check. In this episode, Greg Maxwell discusses how SSI is affected by receiving settlement — plus, Greg discusses a quick tip to help you determine if your clients are receiving SSDI or SSI. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast e...

Contingency fee-based practices often have uncertain cash flows from year to year. In this episode, Greg Maxwell discusses how attorney fee deferrals can normalize your firm's cash flows and avoid the financial roller coaster of a contingency fee-based practice. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate &am...

One common question we get from attorneys is: "Who is eligible for special needs trust and when should I consider it for my client?" In this episode, Greg Maxwell discusses the eligibility requirements and use cases of special needs trusts. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast...

Can receiving settlement affect a client's SSDI eligibility? In this episode, Greg Maxwell talks about the difference between SSDI and SSI — and which is jeopardized by a legal settlement. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— https://amicus.llc/review ⁠— Join the Personal In...

Did you know that you can use deferred legal fees to incentivize key associates to stay with your firm?  In this episode, Greg Maxwell talks about using attorney fee deferrals instead of company equity as golden handcuffs. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— https://amicus....

If you don't enjoy doing lien resolution on your cases, is it ethical to outsource it? In this episode, Greg Maxwell discusses the ethics of outsourcing lien resolution. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— https://amicus.llc/review ⁠— Join the Personal Injury Attorney Faceb...

One common question we get from personal injury attorneys is: "Do we still need to involve a settlement planner if the client is not receiving any government benefits?" In this episode, Greg Maxwell explains why it is in the client's best interest to have a settlement planner explore the financial planning options for a client's settlement funds. Contact Greg Maxwell at (801) 683-7362 or at Maxwel...

If you are having second thoughts about deferring your legal fees because of how involved the defense has to be in the process, here's some good news: there's a fee deferral option that requires ZERO defense involvement. In this episode, Greg Maxwell discusses the privacy advantages of a private, deferred compensation plan to defer your legal fees. Contact Greg Maxwell at (801) 683-7362 or at Maxw...

It's time for some real talk. It seems like anyone who sells structured settlement annuity calls themselves a "settlement planner." In this episode, Greg Maxwell explains the difference between a structured annuity broker and a professional settlement planner. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate &...

"How can you maximize the value of your client’s settlement, especially in catastrophic injury cases?" In this episode, Greg Maxwell talks about a case study that illustrates the importance of truly comprehensive settlement planning.  Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— htt...

Protecting a client’s SNAP benefits can be tricky in certain settlement situations. In this episode, Greg Maxwell talks about how receiving a settlement can affect a client's SNAP benefits (better known as food stamps).  Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— https://amicus.ll...

"Why Did You Become a Settlement Planner?" Other attorneys often ask us how we ended up doing settlement planning. In this episode, Greg Maxwell shares his path to settlement planning — and why he's so passionate about it. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— https://amicus....

If you are planning to defer your contingent legal fees, did you know that you don't have to use an annuity?  In this episode, Greg Maxwell discusses how to setup your own, private deferred compensation plan. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Podcast ⁠— https://amicus.llc/review ⁠—...

One question we commonly get from attorneys is: "My client is on Medicaid and SSI. Can I just send the settlement check to a family member instead of the client so they can keep their Medicaid and SSI benefits?" In this episode, Greg Maxwell explains why sending settlement funds to a family member is almost always a very bad idea. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners...