Plaintiff-Focused Settlement Planning Expertise

When the defense brings in their settlement expert, that individual has a fiduciary responsibility only to the defendant. The defense broker is under no obligation to present options that are in the best interest of the claimant. Moreover, the defense broker will be released from all future liability when your client releases the defendant, the liability insurer, and their agents. Who will you turn to if the defense broker made an error or omission? Rather than risking a legal malpractice claim, it is wise to engage your own expert.

Using a settlement planner to represent the claimant is the best way to ensure that a detailed, comprehensive plan is designed to maximize the value of their settlement proceeds. The plaintiff settlement consultant is your expert and will quarterback the process, performing several duties that include:

Presenting all settlement options: Instead of simply presenting the claimant with a cash lump sum, a settlement consultant will analyze life care plans, Medicare Set-Aside Reports, and medical records to determine the present value of future needs. Depending on the specific needs of the claimant, a structured settlement or special needs trust may provide better long-term financial stability.

Maximizing the payout: A settlement consultant will consider potential pricing breaks on structured settlements such as daily rates and substandard age ratings that leverage benefits.

Recommending an appropriate amount to structure: If the claimant elects to utilize a structured settlement, the settlement consultant can help determine immediate vs. future cash needs and will recommend the most appropriate amount to structure.

Competent guidance: The settlement consultant can provide guidance on the potential consequences of accepting cash settlement proceeds, including tax implications, changes to government benefit eligibility, and the impact of disbursement on any existing liens or probate issues.

Finalizing the settlement process: The settlement consultant can ensure that all proper

protocol is followed, such as:

• Preparing settlement documents that include the structured settlement language, and reviewing any changes with the attorney;
• Coordinating documents with the defense’s structured settlement broker, if needed;
• Finalizing the structured settlement plan and locking in the quote with the life insurance company;
• Collecting copies of the fully executed settlement documents to submit to the life insurance company for policy issuance;
• Requesting the check for the annuity premium from the defense; and
• Collecting and sending out the annuity policies (please note: it can take 45-60 days for the life insurance company to issue a policy after they receive and review the final documents).

The plaintiff settlement consultant is also the gateway to a variety of experts, including estate planning attorneys, corporate trustees, government benefit experts, and more. Competent direction and guidance with all aspects of the settlement plan can save the plaintiff attorney valuable time.

Having a plaintiff settlement consultant work with the plaintiff early in the case can provide valuable benefits to you and your client. The ideal time to contact Gleason Settlements is during negotiations and before mediation. A settlement is often the biggest financial transaction of your client’s life, and financial planning decisions are unique to each claimant. Early engagement of the settlement consultant allows them the opportunity to assess the claimant’s current and future needs, to present all available settlement options, and to help resolve any issues that may delay the claimant’s receipt of the settlement proceeds. In addition to initial meetings, the settlement consultant can also attend mediation or, at the very least, be on standby during the mediation to help answer any questions. Many decisions, such as electing to use a structured settlement, must be made before finalizing the settlement agreement. The yellow highlights represent new or changed information.