SETTLEMENT PLANNING CHECKLIST #6

The Advantages of Structured Attorney Fees

by Rick Bishop
Principal, Settlement Planners

As a personal injury attorney, you are already familiar with the benefits that a structured settlement provides your clients. Periodic payments under a qualified structured settlement ensure that money your client needs to meet ongoing expenses is available when it's needed.But did you know that structured settlements may offer you a similar advantage?

Create a supplemental retirement income stream by structuring a portion of your attorney fees under a qualified structured settlement, you may be able to defer income until a predetermined future time. Not only can this reduce your current taxable income, it also offers a secure way to set aside income for your future needs, such as those you'll have in retirement. By using a structured settlement you can:

Defer all or any part of your fee derived from a qualified
structured settlement; there's no limit.
Choose when your payments will start at the time of
settlement; there's no need to wait until age 59½ for
payments to begin.
Set up lump sum payments to cover known future needs
such as a college education for children.
Your payments will be entirely predictable — unaffected by future
market performance.
Potentially reduce your taxes by spreading out income
over time.