As the end of the year approaches, many plaintiff attorneys are managing an uptick in case activity and settlement discussions. The fourth quarter brings the drive to resolve legal matters before year-end, and partnering with a settlement consultant can provide critical support.
Maximize Value Through Structured Settlements
For claimants, a structured settlement offers a customized financial plan that provides long-term security. Rather than risk depleting a lump sum, a structured settlement allows funds to grow income tax-free and be distributed over time according to the claimant’s needs.
Settlement consultants work closely with claimants to design tailored payment schedules, whether for ongoing medical expenses, education, or retirement planning, which align with the claimant’s financial goals. In Q4, when many cases are finalized, this expertise helps ensure that settlements are not just resolved but optimized.
Create a Fee Deferral Plan for Financial Flexibility and Tax Efficiency
End-of-year settlements do not just impact claimants. Their attorneys also have important financial decisions to make. By electing to defer attorney contingency fees, plaintiff attorneys can spread out taxable income and improve cash flow management. Attorney fee deferrals can also help fund retirement, business expenses, or future investments.
A settlement consultant can assist in setting up these arrangements correctly and in compliance with IRS regulations. By planning ahead before the settlement is finalized, attorneys can take advantage of tax-deferred growth and long-term financial stability, benefits that are especially valuable during Q4 financial planning.
Collaborate for Smoother Case Closures
The fourth quarter can be hectic, with claimants eager for closure and insurers motivated to finalize payouts. Settlement consultants serve as valuable partners in coordinating logistics, explaining settlement options to clients, and ensuring all documentation is completed accurately and on time. This collaboration helps reduce stress for attorneys and enhances the claimant’s overall experience.
Additionally, consultants bring an objective perspective to negotiations, helping bridge gaps between demand and offer. Their expertise can make the difference between a rushed year-end settlement and one that fully supports the claimant’s needs.
Plan Strategically with Sage
From maximizing client recoveries to optimizing attorney fee strategies, a settlement consultant offers the guidance and expertise needed to close cases efficiently and strategically.
As you navigate the busy final months of the year, consider the added value a settlement consultant brings. For more information, contact our team today.