Andrew Knopf; Paul Knopf Bigger https://www.pkblawfirm.com/
William Ruffier; Dellecker, Wilson, King, McKenna, Ruffier & Sos, LLP https://www.dwklaw.com/attorneys/william-e-ruffier/
Lisa Finaldi Simmons; Orlando Trial Attorney, P.A. https://orlandotrial.com/
Jeremy Markman, King & Markman, P.A. http://www.kingmarkman.com/
ATTORNEY FEE STRUCTURES
While clients can use Structured Settlements to receive their compensation into the future, attorney’s can also establish fee structures to receive their fee in the future. While Cantrell Consulting primarily creates attorney fee structures for personal injury attorneys, this is an excellent option for many different types of attorneys like commercial litigation attorneys or employment law attorneys.
Within your attorney fee structures, there are many different options to consider. These contingency fees are not tax-free, but tax-deferred. That means you can take your fee and your tax liability on the attorney’s fee over time. You’ll still receive tax-deferral benefits without having to create a complex Qualified Plan. Having your fees spread over several years can lead to tax savings and additional investment capital.
By negotiating an attorney fee structure during the negotiation process of the case, we can avoid many of the obstacles that come along with waiting until after an agreement has been reached between the plaintiff/claimant and defendant or insurance carrier.
Fee Structure Plus (FSP)
Cantrell Consulting was at the forefront of the creation of Fee Structure Plus or FSP. This allows attorneys to use their fee towards an investment in order to establish a greater rate of return. This fee does not need to be invested in a traditional annuity or US Treasuries. The main benefit of FSP is that it gives attorneys ability to have their fee structure invested in the market and allow their funds to be managed by a financial advisor or company.
Fixed Annuity Structure
By deferring their attorney fees over several years, they can defer taxes as well. These payments are fixed and are determined during the establishment of the settlement. Paying smaller sums over a larger span of time may put you in a lower tax bracket, thus saving money you would have otherwise paid to the government.
Qualified Settlement Fund (QSF)
A Qualified Settlement Fund is an option if there are multiple claimants in a settlement. Under a Qualified Settlement Fund, the government allows this fund to act in place of the defendant or insurance carrier when it comes to structuring a fee for the attorney or claimant.
Are you considering an attorney fee structure for your practice? Talk to an expert at Cantrell Consulting today to discuss the best option for your practice.