Have you heard of Qualified Settlement Funds (QSFs)? QSFs can allot more time for strategic financial planning after a settlement.
Our friend and attorney Sam Dolce, who oversees QSFs at Milestone Consulting, gave an overview of 3 different ways to use QSFs in a past webinar recording: https://vimeo.com/advocatecapital/3differentwaystouseqsfs
Per our partners at Milestone Consulting, “Firmwide QSFs are created around cases that have commonality, such as cases in one practice area, handled in a specific region, and/or by one law firm.”
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Creating a firmwide qualified settlement fund is an excellent way for a law firm to leverage its settlement and have an effective tax planning solution.