In this blog we discuss how as a trial lawyer, you can elevate your settlement game, featuring insights from Sam Dolce-Powers, attorney/partner at Milestone, an innovator in providing post-settlement solutions for mass tort and multi-party litigation.

As a contingency fee attorney, you know the satisfaction of securing a just settlement for your client. But what about maximizing the efficiency and client experience during the often-complex post-settlement phase? This is where strategic settlement planning shines.

Here are three key strategies to elevate your settlement game:

1. Be settlement ready from day one.

It’s never too early to prepare for settlement. Early preparation streamlines the entire process, freeing up valuable resources for you and your contingency fee law firm. Consider these proactive steps:

• Engage a seasoned settlement administrator: Bringing in a specialist early ensures a smoother post-settlement flow.
• Centralize your data: Implement a system, process, or to organize all case documents and data for swift access.
• Digitize standard packages: Create digital settlement document packages for easy customization and distribution when needed.

2. Leverage the power of a Qualified Settlement Fund (QSF).

A QSF can be a game-changer for both you and your clients. As long as it is established before settlement, a QSF sets the stage for more organized distribution. It also offers the flexibility needed for informed financial decisions:

• For your clients: A QSF allows clients to evaluate the need for settlement planning to avoid disqualification of government benefits and/or to plan financially for the long term.
• For you: Once your fee is in the QSF, you can consider arranging a periodic payment schedule to smooth your flow of future income.

Ultimately, a QSF is a win-win. You can leverage it to maximize your own financial benefits while empowering your clients to do the same, leaving them highly satisfied with their journey through post-settlement.

3. Manage client expectations—transparency is key.

Building trust with your clients is of the utmost importance, especially when it comes to managing expectations. Here’s how to ensure a smooth settlement and post-settlement experience:

• Open communication: Maintain clear and consistent communication throughout the legal process. This builds trust and fosters your clients’ confidence that their settlement funds will be handled efficiently. This translates to fewer unnecessary claimant inquiries coming into your firm and a more streamlined post-settlement process.
• Client education: Educated clients are empowered clients. Provide clear explanations not only about their case status, but also, what they can expect after settlement. A well-informed client is more likely to trust your judgment and have positive things to say about their experience with your firm.

By prioritizing transparency and client education, you foster a strong attorney-client relationship, ensuring informed decision-making throughout the settlement and post-settlement stages.

Ready to Elevate Your Settlement Game?

These three powerful settlement strategies will help your law firm transform its settlement process, leading to increased efficiency, maximized client satisfaction, and ultimately, a thriving contingency fee practice.

Meet with Esquire Bank.

Choose Esquire Bank for your next Qualified Settlement Fund.

Discuss your settlement and distribution needs with an Esquire Bank Expert today at a time convenient to your schedule.

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 Or send an email to settlementservices@esqbank.com.

Learn How to Leverage Case Cost Financing – A Strategic Solution

Case cost financing is one such solution for overcoming the financial challenges contingency fee law firms face – and an effective one at that. By leveraging a case cost line of credit, it enables your law firm to access capital to cover litigation expenses, expert witness fees, and other case-related costs.

Instead of tying up your cash flow in ongoing cases, you can use financing to free up valuable capital to invest in expanding your accounting and financial departments, upgrading your technology, hiring new talent, or acquiring new cases to ensure a stable flow of case intake.

The information provided in this blog is provided for general informational purposes only. Some of the information may not be applicable or appropriate for all law firms.