Pay Taxes Now on Your Contingency Attorney Fee or Defer Taxes to the Future?
Structured attorney fees have been around for a long time. Traditionally provided through highly rated life insurance companies they offer tax-deferred, guaranteed returns utilizing fixed annuities. Many attorneys choose to pay the taxes on their fee and have their financial advisor make investment decisions to hopefully realize higher market-related returns than what the traditional fixed products offer.
What if you had the ability to defer taxes and invest your entire contingency fee in a program that allowed you to enjoy market-related growth? Which scenario has a better result? NorthCoast Asset Management out of Greenwich, CT takes a closer look at the power of fee deferral in a piece called: Change your focus. Change your future. Click the link to NorthCoast hypothetical case study to learn more!
With market-based fee structure programs, like Fee Structure Plus®, you realize tax-deferred growth, market-related returns, and only are taxed as future payments are made. With FSP you can have your entire contingency fee invested based on an investment strategy you select and like the traditional structured attorney fee, determine a future payment schedule that addresses future needs and financial goals.