Learn the Benefits
Structuring Your Attorney’s Fees
Fee structuring allows you to maximize the value of your fee and provides you with guaranteed future income, which can be very comforting in the roller coaster worlds of contingency fee income and the stock market. As with a plaintiff’s structured settlement annuity, if you choose a lifetime payment stream, you cannot outlive the benefits, and it jointly protects you and your beneficiaries.
Create Customized Payment Streams
Attorney fee structures can be used to create customized payment streams to help you meet your personal needs and goals.
Craft monthly payments to assist with your home mortgage.
Supplement or create your retirement plan with a guaranteed element.
Have deferred payments made to your firm, guaranteeing income to help meet your payroll and office expenses.
Fund educational costs for your children.
Deferred-Taxation for Attorneys
A tailored fee structure can help attorneys lower their tax obligation each year. Regardless of whether a plaintiff chooses to use a structured settlement option for their case proceeds, an attorney can still opt to defer their fees if it is included in the settlement agreement.
Deferring fees can not only help you to cushion your retirement plan but can also be used as a fixed income annuity. This means that you would only report the income on years when payments are received, ideally during times when you have less revenue coming in from your practice. Deferred taxation strategies are flexible and can be personalized to meet your specific financial needs, now and in the future.
How We Can Help
Paramount is not only a nationally recognized advocate for plaintiffs; we can also be an essential resource for you and your law firm. Structuring attorney fees has several advantages but should be done by a licensed financial advisor who understands the tax implications and can help to limit your liability. Our knowledgeable team members have extensive experience working with attorneys to develop a fee structure that benefits them throughout their lifetime.
Learn more about how structuring attorney fees can:
- Help you to avoid being moved into a higher tax bracket during a given year.
- Provide flexibility based on your individual needs and goals.
- Establish a secure financial future for you and your family.
- Create stability and help you to manage fluctuations in your income.
- Keep more money in your pocket long after a case settles.
Funding Your Future
Paramount was created to not only help plaintiffs protect and preserve their settlement to provide a lifetime of stability, but also to help attorneys use their settlements to fund retirement, mitigate risk by funding firm expenses, and defer tax liability. Through strategic, tailored attorney fee deferral, we can help attorneys maximize the contingent fees they receive from a case.
Planning is Paramount
Let’s talk about your needs and goals. Call us at (716) 712-0127 or submit the form and one of our advisors will contact you soon.
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