In the complex world of legal settlements, a plaintiff settlement consultant is a necessity to ensure your client’s best interests are represented and prioritized.
Here are the answers to frequently asked questions about settlement consultants:
What is the difference between a structured settlement broker and a settlement consultant?
A structured settlement broker is a professional licensed to broker fixed annuities (i.e., structured settlement annuities). A settlement consultant expands upon that role, offering a more thorough approach to planning. For instance, while one claimant may want to replace lost income, another may have extensive medical needs. A settlement consultant can customize a plan based on the individual claimant’s needs and goals.
If the defense provides a structured settlement broker, can the plaintiff attorney still choose their own settlement consultant?
Yes! Plaintiff attorneys have the right to enlist their own settlement consultants. In addition to presenting settlement options, your consultant will provide the release language that properly preserves the right to structure settlement funds and attorney contingency fees.
Why should a plaintiff attorney use their own structured settlement broker instead of the defense broker?
Relying solely on defense brokers leaves claimants vulnerable to signing agreements that don’t fully meet their needs. Settlement consultants are adept at identifying and resolving settlement roadblocks, educating claimants on their options, and creating plans that align with claimants’ needs.
When should I reach out to a settlement consultant on a case?
Consider bringing in a settlement consultant as soon as you open a case. That way, the consultant has time to clearly identify issues that could disrupt the settlement process. The extra time also allows the consultant to thoroughly review settlement disbursement and attorney fee deferral options. Additionally, the decision to structure the settlement or attorney fees must be made before the final settlement agreement and release is signed.
What types of products and services does a settlement consultant provide?
In addition to brokering structured settlement annuities, Sage also helps with market-based structured settlements, government benefit preservation (e.g., Medicaid, SSI, SNAP), Medicare Set-Asides, special needs trusts and minors’ trusts, lien resolution, attorney fee deferrals, and more.
Does it cost money to work with a settlement consultant?
There is no upfront cost to engaging a settlement consultant. Instead, settlement consultants receive commissions from the life insurance companies that issue structured settlement annuities.
Are there risks to collaborating with a plaintiff settlement consultant?
A plaintiff settlement consultant is there to help mitigate risk, not create it. A consultant provides unbiased education on structured settlements, navigates complex benefit preservation, and tailors financial solutions to specific needs.
Contact Your Sage Consultant Today
By transitioning your client to an experienced settlement professional, you set yourself and your client up for financial security. For more information, contact the nation’s largest plaintiff-oriented settlement planning firm today.