How to Reap Long-Term Financial Benefits in a Taxable Damages Case: The Latest Options for Settlements Outside of the Realm of Physical Injury, Physical Sickness, or Wrongful Death

Most attorneys know that when it comes to physical injury settlements, traditional financial vehicles such as structured settlements are available to help preserve a client’s recovery.  What about non-physical injury settlements when the proceeds are taxable? There are several financial products that offer a variety of benefits for non-physical injury settlements and attorney fee deferrals,…

Qualified vs. Non-Qualified Assignments: What Do They Mean for Settlement Proceeds?

When it comes to placing settlement proceeds or attorney fees in an annuity, claimants and attorneys may find themselves confused about the tax implications associated with the annuity payments. They may hear the words “qualified” and “non-qualified” discussed—but how do those terms relate to settlement proceeds? Structured Annuities: How They Work If a claimant decides…

Is it Wise to Structure Non-Injury Settlements?

Structured settlements are typically associated with personal injury, wrongful death, and workers’ compensation settlements. The federal tax code permits income tax exclusion for structured settlements used in injury cases, but when it comes to non-injury settlements, are structures still a favorable option? Qualified Assignments vs. Non-Qualified Assignments When a claimant elects to place settlement proceeds…