Valdez Team - Structuring Your Attorney Fees
There are many advantages to structuring some or all of your attorney fees from a settled case. Below, we present six key advantages:
Advantages of Structuring Your Attorney Fees
What are the advantages of Structuring Your Attorney Fees?
Let's start by learning about Attorney Fee Structured Deferrals; what are they and how can you benefit? Attorney Fee Structured Deferrals are a valuable tax-planning & investment strategy for any attorney that is paid through contingency fees.
The Valdez Team at Ringler offers several different options for attorneys to structure their fees
Below are six key advantages & benefits of structuring your attorney fees:
Always Seek Experienced Professionals & Guidance on Requirements
You must carefully follow all of the rules concerning attorney fee structures in order to avoid any tax issues. Therefore, we highly recommend you consult with a Certified Structured Settlement Consultant (CSSC) and your tax advisor when considering to structure your attorneys fees. Also keep in mind the following:
- The option to structure your attorneys fees must be arranged prior to, or concurrent with, the plaintiff’s original settlement (normally in the contingent fee agreement).
- Very specific documentation and wording is required in the settlement documents by the life company, and to avoid potential problems with the IRS.
- Most life companies require a hold harmless agreement and IRS forms such as a W-9 or W-4 with the structure agreement.
Call us or contact us today to find out more!