What qualifies an Attorney to Structure Fees?
Cases where an attorney is paid hourly or paid up front can not qualify to be structured. Cases that have an unknown value at the inception and are paid upon settlement are the cases that will qualify for the attorney to structure their fees. These cases usually involve injury or sickness, where evaluation of expenses are too hard to estimate during early stages. Other factors are involved as well including the attorney’s risk tolerance, retirement goals, tax bracket, and current and long-term needs. An attorney must agree to structure a fee prior to the case being resolved, meaning before a client signs documents and before checks are issued.
Rate of Return
JurisPrudent Deferral Program
A well-designed fee deferral program offers a variety of benefits, from reducing your tax burden and enhancing your wealth accumulation to improving financial flexibility and helping you retain key associates. The JurisPrudent Deferral ProgramTM gives attorneys the same level of benefits and protections that corporate executives enjoy — providing a level of safety, service, and transparency that is unmatched across the industry.
- Reduce Tax Burden — Increase Wealth Accumulation
You can base fee payments on a customized investment portfolio where just like in a 401(k), your money grows tax-deferred. But in this case, unlike with a 401(k), there are no limits on the amounts you can defer.*
- Flexibility for the Future
Like Fortune 500 executives deferring their compensation, you can have flexibility regarding the timing of income and resulting taxation. With added flexibility you can plan for your financial success by creating future payment streams that can be tailored to your needs and goals.
- Retain Key Associates
Fee deferrals can be used by your law firm to fund a retention plan for key associates and employees, mitigating the risk of important people leaving the firm and taking valuable cases with them.
At Vega Settlement Group, we make it our commitment to have these payments reflect the future obligations and goals of the client, thus protecting them from outliving their financial resources.
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We specialize in offering our clients the confidence that only long-term planning can provide.