Settlement Planning Tips for Personal Injury Attorneys

This episode shares when it may make sense for plaintiff attorneys to use a Qualified Settlement Fund (QSF). A QSF can be an excellent settlement tool that benefits all parties involved in the case: the plaintiff attorneys, the defendants, and the clients. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Rev...

One concern we hear from plaintiff attorneys who place funds into a private deferred compensation plan is this: "What if I need access to funds more quickly than the deferred compensation plan allows?" In this episode, Greg Maxwell outlines the ability to establish a line of credit with the deferred compensation program administrator to fund immediate cash flow needs. Contact Greg Maxwell at (801)...

Settling a case for a client who receives Medicare presents particular challenges and potential pitfalls. In this episode, Greg Maxwell discusses navigating Medicare's past and future interests in a client's 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...

In personal injury settlement, structured settlement annuities are one of the most commonly used settlement planning tools.  However, there are annuities — other than structured settlement annuities — that are available to settling clients.  In some situations, using a fixed indexed annuity or equity-indexed annuities may make more sense (particularly in our historically low interest-rate environm...

A common question that we receive about attorney deferred compensation plans is: "What happens to the funds in my plan when I pass away?" In this episode, Greg Maxwell explores the different planning opportunities that deferred compensation plans allow at the time of your death, including the ability to use your plan as a wealth transfer tool. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@A...

Placing settlement funds into a structured settlement annuity when the client is a competent adult may not make sense in some situations. In this episode, Greg Maxwell outlines why we often prefer to set up a settlement trust instead of using a structured settlement annuity for cases involving competent adults. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any...

In this episode, Greg Maxwell discusses issues that need to be considered before terminating a first-party special needs trust. In particular, Greg shares how to make sure that most of the funds in the trust benefit the 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 ⁠— https://am...

If you're an attorney and you may be interested in deferring contingent legal fees to save on your income tax, it's best practice to add some specific language to your retainer agreement. 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 Inj...

In this episode, Greg Maxwell discusses why the Affordable Care Act is a significant benefit for plaintiffs. Greg also shares when it may make sense for your client to purchase a healthcare policy on the Marketplace and forgo using a special needs trust to preserve Medicaid eligibility. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this pod...

In this episode, Greg Maxwell shares the mechanics of setting up a settlement trust for a client — and he outlines how the process compares to situations when your client places funds into a structured settlement annuity. 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.l...

Many of the plaintiff attorneys that we speak with are surprised to learn about the option to defer their legal fees using deferred compensation plans — mostly because they had no idea this approach was even an option. In this episode, Greg Maxwell shares why most attorneys have not heard about deferred compensation plans — and why nearly every attorney tells us, "I wish I had known about this opt...

Settlement proceeds planning essentially boils down to allocating a plaintiff's settlement into one of four different buckets. This episode discusses what the "Four-Bucket" approach is and the advantages and disadvantages of each bucket. 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 ⁠—...

Did you know that your clients can save significantly on their tax bill when settling a taxable damages case (a case that is NOT based on a physical personal injury)? In this episode, Greg Maxwell talks about how using a non-qualified structured settlement annuity can help plaintiffs in taxable damages cases reduce the total amount of taxes they must pay. Contact Greg Maxwell at (801) 683-7362 or...

One common question we hear about deferring contingent legal fees is: " Can I still defer my fees on a particular case — or is it too late? " In this episode, Greg Maxwell answers this question and explains when it's too late to defer the attorneys fee on a case. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate &a...

Without careful planning, a client's personal injury settlement could create unintended estate planning issues. In this episode, Greg Maxwell shares examples of when your client may need to address estate planning concerns when settling a case.  Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Review the Pod...

Structured settlement annuities offer many different payout options and designs.  In this episode, Greg Maxwell talks about the payout options available to a client when establishing a structured settlement annuity — and why we compare annuities to concrete. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & R...

The two most common options for deferring contingent legal fees are structured settlement annuities and deferred compensation plans. Both have advantages and disadvantages depending on the goals and preferences of the attorney. In this episode, Greg Maxwell shares situations when each option may make sense. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any que...

Plaintiff attorneys and their clients have unique needs and need specialized expertise — and Amicus Settlement Planners was built to handle these unique issues. Amicus helps attorneys minimize their own income taxes through strategies available only to contingency fee-based attorneys. Amicus helps clients develop a plan for their settlement proceeds that encompasses their legal and financial issue...

In a minor's settlement case, most attorneys will use a structured settlement annuity. But there are more options for the minor client depending on their needs. In this episode, Greg Maxwell talks about the different options to maximize flexibility and liquidity in minor's cases. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast ep...

Many CPAs give the same tax planning strategies to plaintiff attorneys as they do to doctors, dentists, and business owners. In this episode, Greg Maxwell shares a story of an attorney who applied a tax planning strategy available only to plaintiff attorneys. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate &...

One common question we get from clients and personal injury attorneys is, "How much does setting up a Special Needs Trust cost?" In this episode, Greg Maxwell outlines the process and the possible costs involved when a Special Needs Trust is established. Contact Greg Maxwell at (801) 683-7362 or at Maxwell@AmicusPlanners.com if you have any questions about this podcast episode. ⁠— Rate & Revie...

In this episode, Greg Maxwell discusses the differences between a first-party and third-party Special Needs Trust — and which trust type usually applies in personal injury settlements. 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...

"Can a settlement trust pay a parent for being the caregiver of the injured child?" In this episode, Greg Maxwell answers this question and discusses some things you need to consider when exploring this option. 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 ⁠...

In this episode, Greg Maxwell answers a common question that we hear from settlement clients and their attorneys: “Can a client own a home and still be eligible for Medicaid and SSI?" 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...

A common question we often hear from attorneys is: "Most of my cases are small. Can I still defer my legal fees?" In this episode, Greg Maxwell discusses if there's a minimum amount required to defer contingent legal fees. 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....