Tax-Smart Settlement Strategies: Minimizing Taxes for Plaintiffs and Plaintiff Attorneys (2025 Edition)

Greg Maxwell
Greg Maxwell
Amicus Settlement Planners

Greg Maxwell, Esq., CFP®, advises plaintiff firms nationwide on settlement planning, special needs planning, and income tax planning.

Bryce Maxwell
Bryce Maxwell
Amicus Settlement Planners

His expertise with strategies such as structured settlement annuities and Plaintiff Recovery Trusts helps plaintiffs significantly reduce their tax liabilities.

On-Demand: December 18, 2024

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2 hour CLE
Tuition: $195.00
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Program Summary

This presentation offers plaintiff attorneys a comprehensive guide of the complex landscape of settlement taxation, from distinguishing between taxable and non-taxable damages to navigating the unique tax pitfalls of punitive damages and interest. We will explore the impact of the Tax Cuts and Jobs Act, which introduced the “double tax” issue by removing deductions for legal fees in many cases, and how strategic planning can mitigate this burden. Through case studies, we’ll demonstrate how tools like the Plaintiff Recovery Trust and Structured Settlement Annuities reduce taxes on settlements. Attorneys will also learn how to control the timing of their tax obligations on contingent fees and explore options for converting taxable legal fees into tax free or tax-deferred income, enhancing the value of their legal fees through effective tax planning.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

  • Understanding Settlement Taxation
  • Tax Pitfalls of Punitive Damages and Pre- and Post-Judgment Interest
  • The Double Tax Problem Due to the Tax Cuts and Jobs Act
  • Reducing Plaintiff Tax Burdens with Trusts and Structured Settlement Annuities
  • Tax Timing Control for Plaintiff Attorneys
  • Attorney Options for Converting Taxable Legal Fees into Tax-Free or Tax-Deferred Income

Closed-captioning available

Speakers

Greg Maxwell_FedBarGreg Maxwell | Amicus Settlement Planners

Greg Maxwell, Esq., CFP®, advises plaintiff firms nationwide on settlement planning, special needs planning, and income tax planning. He previously served as President of the Society of Settlement Planners.

 

Bryce Maxwell_FedBarBryce Maxwell | Amicus Settlement Planners

Bryce Maxwell, CPA, specializes in tax-saving strategies for plaintiffs. His expertise with strategies such as structured settlement annuities and Plaintiff Recovery Trusts helps plaintiffs significantly reduce their tax liabilities.

Agenda

I. Understanding Settlement Taxation | 1:00pm – 1:20pm

II. Tax Pitfalls of Punitive Damages and Pre- and Post-Judgment Interest | 1:20pm – 1:40pm

III. The Double Tax Problem Due to the Tax Cuts and Jobs Act | 1:40pm – 2:00pm

Break | 2:00pm – 2:10pm

IV. Reducing Plaintiff Tax Burdens with Trusts and Structured Settlement Annuities | 2:10pm – 2:30pm

V. Tax Timing Control for Plaintiff Attorneys | 2:30pm – 2:50pm

VI. Attorney Options for Converting Taxable Legal Fees into Tax-Free or Tax-Deferred Income | 2:50pm – 3:10pm

Preview
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