I’m in the business of helping people make informed decisions about their futures. At Milestone Consulting, we’re all about giving plaintiffs and attorneys the right tools to meet their financial needs now and in the years to come. Monolith Advisors finds personalized, collaborative strategies for managing clients’ wealth. My latest endeavor, the nonprofit Bairs Foundation, provides families in litigation with low-interest pre-settlement funds so they can go the distance with their lawsuits.
My mission to help people make educated choices has led me to find a profound connection with Living Safer magazine, which provides timely information about common issues families face. The newest issue, called “Reading Between the Lines,” covers topics ranging from the implications of your insurance coverage selection to gaining financial freedom to tips on checking your contractor’s work.
My article in this issue is titled, “The Ins and Outs of Deferred Attorney Fees.” I answer seven important questions I have been asked time and again about deferring fees, including:
- At what point do I need to decide to defer my fees?
- What factors should I consider?
- Can I elect to defer a fee if my client elects to receive their settlement proceeds in a lump sum?
- What if I worked on the case with another attorney?
- Is an attorney fee flexible?
- How are payments made?
- What does it cost to do a deferral?
Many lawyers do not fully understand how flexible deferring fees can be as a financial planning option. When establishing their unique deferral strategy, attorneys have full control of their plan. Deferring fees not only helps them take charge of their wealth, but it can also protect them from a higher tax bracket and allow them to manage their firm’s cash flow. Simply put, it’s an excellent tool for lawyers to map and achieve their future financial goals both within their firms and their personal lives.
I invite you to check out our newest Living Safer magazine and share the issue with anyone who might find the information valuable. Feel free to contact me at (855) 836-2676 if you would like to be mailed hard copies of Living Safer.
About John Bair
John Bair has guided thousands of plaintiffs through the settlement process as founder of Milestone Consulting, LLC, a broad-based settlement planning and management firm. Milestone’s approach is comprehensive and future-focused. John’s team has guided thousands of clients by taking the time to understand the complexities of each case. They assess the best outcome and find the path that enables each client to manage their many needs. Read more about Milestone Consulting at http://milestoneseventh.com/.
A West Point graduate where he served as captain and military aviator, John Bair continues his commitment to our country through his efforts within the settlement planning industry. He has represented families of victims lost in the Flight 3407 crash, offered pro bono services to the families of 9/11 victims and drafted the first consumer protection bill for plaintiffs (H.R. 3699).