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Many attorneys still believe that a settlement planning firm is useful only when their clients are interested in structuring their settlement. However, there is a vast range of planning opportunities available to plaintiffs, and knowing about them can ensure your client’s long-term financial security.

Some of these financial planning tools might include one or more of the following:

Of course, this list is just the beginning of proper planning. A settlement expert takes a holistic look at each individual plaintiff’s needs, goals, lifestyle and financial future. After making a comprehensive assessment, they use that information to develop a settlement plan. Below are additional ways an expert planner helps plaintiffs as they navigate toward settlement.

Mediation Assistance
A settlement planner can be an advocate for a plaintiff during mediation, helping to build trust between the plaintiff and the attorney. If settlement talks are already in the works, the expertise of a settlement planner may bring value in overcoming some obstacles and answering financial questions.

Wealth Management Plan Customization
The best strategy for a client may require a combination of options, taking into consideration long term risk analysis, mindfulness of future healthcare costs, and protection under a trust. Combining these methods can help a plaintiff meet his or her immediate needs while preserving a portion of the wealth for future needs.

Government Benefits Preservation
Needs-based government benefits like Medicare and Supplemental Security Income (SSI) may be affected when a plaintiff receives his or her settlement proceeds. A settlement planner can evaluate the impact a settlement will have on government benefits and develop a durable strategy to avoid disqualification.

And We Can Plan for Attorneys, Too!
Milestone recognizes that the attorneys we work with want innovative financial solutions with an eye on long-term wealth accumulation, too. We have a robust fee deferral program to help contingency-fee attorneys maximize their wealth by creating a pre-tax investment strategy.

When a settlement is in the works, expert planning is the next logical step in ensuring the compensation a plaintiff receives is beneficial for as long as possible.

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