There are many ways that EPS provides service to attorneys. We provide consultation, knowledge and technical support as we are working with you and your client on a structured settlement; and we create structured settlements for your fees. Structuring Attorney Fees is just one of the many premier services EPS provides.
A new product, Fee Structure Plus™, is a unique and powerful product designed to help plaintiff attorneys maximize the value and use of their hard-earned fees. Fee Structure Plus enables a law firm and the attorneys associated with a particular case to defer taxes on a contingency fee, while simultaneously providing the option for immediate liquidity on the fee. By doing so, attorneys have tremendous flexibility and more options to use the proceeds of the fee as they desire. Whether attorneys want to invest back in their business or utilize the fees for personal purposes, Fee Structure Plus™ puts the decisions and control back in your hands.
Traditional Structured Attorney Fees (and those using Fee Structure Plus) allow for the deferral of income tax on the fees until the year they are received. Under today’s tax laws, both the fees and the growth on the fees are likely to be tax-deferred, versus unstructured (immediate) fees which would generally be fully taxable in the year received. This gives you the opportunity to design the right income stream for your practice; to create additional retirement income; or to accommodate future needs for your family. And, structuring your fees eliminates the requirement for regular monitoring and reinvestment of your income.
The process is straightforward. Prior to settlement, you determine how you would like your payments deferred. In most cases you can structure your fees when your client structures their settlement. In some cases you can still structure your fees even if your client elects to not utilize a structured settlement.
The Attorney Fee structure is funded by an annuity issued by a major life insurance company. Thanks to the multiple markets available to EPS, we can offer some or all of following features and benefits depending on the life insurance company selected:
• Defer all or any part of your fee
• No out-of-pocket regular investment management costs
• Create the benefit structure and payout plan that works for you – like a plan for future lump sum payments to cover big-ticket items like a child’s college tuition or a payment stream for life
• Payments can be made on predetermined future dates with no penalties -- You need not wait until age 59 ½ to receive payments
• Payments are entirely predictable – no market risk
• Establish a joint and survivor payout to protect a loved-one
• Payments can go to a named beneficiary
To create a structure that fits your situation, please contact an EPS Structured Settlement Consultant.