In this blog we explain how trial lawyers can leverage a QSF Admin for law firm success, featuring insights from Patrick Hoover, legal counsel at Milestone, an innovator in providing post-settlement solutions for mass tort and multi-party litigation.

You’ve Secured a Settlement…Now What?

Securing a win for your client is just the first hurdle. Managing the settlement funds can be a time-consuming process, especially in cases with multiple claimants or complicated payment timelines. This is where Qualified Settlement Funds (QSFs) can be invaluable assets. Chosen carefully and intentionally, your QSF administrator should serve as an integrated partner you can rely on to bring your case and clients efficiently and effectively over the finish line.

What to Look for When Selecting a QSF Admin

Here are four key benefits of QSFs and characteristics to look for when selecting a QSF Admin who is right for you:

• Streamlined Distribution

QSFs act as a central holding tank for settlement funds. This eliminates the need for your law firm to handle individual disbursements, saving you significant administrative time and effort. Your QSF administrator should take care of everything—from verifying clients’ eligibility to receiving their settlement to ensuring proper tax withholdings where necessary.

• Enhanced Client Service

QSFs enable you to further serve your clients by affording them the time necessary to financially plan. Look for a QSF administrator who incorporates settlement planning into the post-settlement process. Clients who engage with a settlement planner benefit from this guidance, whether they are preserving government benefits, establishing a trust, or structuring some or all of their incoming funds.

• Smoothed Income Flow

By settling your case into a QSF, you can decide whether to accept your fee as a lump sum or defer, invest, and arrange periodic payments with your fee. Structuring your fee allows you to smooth out your flow of income and potentially benefit from pre-tax investment growth. Choose a QSF Admin who will work with you on exploring and designing structured fee arrangements.

• Expertise and Efficiency

QSF administrators are experts in managing complex settlements. They possess the knowledge and experience to navigate legalities and ensure efficiency in the post-settlement stage. This offloads the administrative burden from your firm, freeing you up to focus on winning cases.

Why You Should Leverage a QSF Admin

If your contingency fee law firm handles cases with large settlements or complicated payment timelines, the right QSF administration can be a game-changer. By leveraging the expertise of a high-touch QSF administrator, you can streamline operations, enhance client service, and consider financial advantages for yourself and your firm.

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.

SCHEDULE A MEETING

 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.