Lawsuits & Settlements

Navigating the issues.

For nearly two decades, we’ve worked with many clients who have received their sudden wealth through a lawsuit or settlement. Although each situation was different, what is common to nearly all of them is that they or someone close to them were harmed. While there are many significant legal, tax, and financial issues that need addressed, sometimes the biggest hurdle is handling the “emotional rollercoaster” as one client described it. Part of the frustration is the often slow legal system and the seemingly invasive procedures necessary to get a successful verdict. And just below the surface for many clients, is the pain they have experienced that they are fighting for justice.

State with the highest number of lawyers? New York – 86 per 10,000 residents¹

My work over the years with clients who have received a lawsuit judgment or settlement has humbled me. Often they are the underdog—fighting for what is right and taking on seemingly impossible odds. And when justice does prevail, many view their “win” as bittersweet. Their “windfall” is not because they won the lottery or have sold their company, it is compensation for an injury, for pain, or from a loss they endured. And sometimes the wrong can never be made right even if they “win” or regardless of the amount of money they receive.

Tort cases declined by 25 percent between 1999 and 2008²

It is a great honor and responsibility to guide these clients – to help them navigate the countless legal, tax, and financial decisions they and their attorneys have to make before and after they are awarded a settlement. If you’re in the process of receiving a legal settlement or have already received one and have a question about how we work or about your personal situation, contact us and we’ll respond to you today.

Average compensation payout for injury lawsuits is $60,000³

A few of the most common questions we help our clients answer are:

  • “Does it make sense for me to take a lawsuit loan on my case?”
  • “What is a structured annuity and does it make sense to get part or all of my settlement in a structured annuity?”
  • “What are the tax consequences of the settlement?”
  • “How much money will I have after paying the attorney, miscellaneous fees, and taxes?”
  • “Will the lawsuit settlement be enough so I can stop working?”
  • “Are there ways to minimize the taxes I will pay on the settlement?”
  • “Should I sell my structured settlement or annuity to a company such as JG Wentworth for cash?”

Sources
¹ https://lawschooltuitionbubble.wordpress.com/original-research-updated/lawyers-per-capita-by-state/
² https://www.wisjustice.org/index.cfm?pg=tortcasedecline
³ http://www.statisticbrain.com/civil-lawsuit-statistics/

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