Taxable damage legal fees are no longer deductible in many cases!

The 2018 tax bill has created an unintended tax issue for trial lawyers and their clients who settle Non-physical injury litigation. These awards, which are generally all taxable in nature, now are faced with the reality that the legal fees charge are NOT deductible on the clients tax return due to changes in the law. This doesn't apply to some areas of taxable damage litigation, but it certainly applies to many types of cases, such as wrongful imprisonment, defamation, insurance bad faith and legal malpractice.

Watch this short video to learn the basics and what you need to tell your client about the tax status and potential non-deduction of legal fees on the award or settlement of their case. To learn more go to http://wahlstromandassociates.com/.

Posted on March 23, 2018 .

Selecting a trust company, the three things a trial lawyer must know

In the first part of this trial lawyer due diligence series, Mark Wahlstrom looks at the issue of how to select a trust company to handle funds for a personal injury client.

Mark looks at conflicts, disclosure issues, investment selection and understanding fiduciary standards. With so many firms claiming to be experts in settlement planning and structured settlements, this brief tutorial gives you the three essential questions to ask of every potential trust company or asset manager. To learn more go to http://wahlstromandassociates.com/.

Posted on March 19, 2018 .

The Fiduciary standard and structured settlements

In this edition of The Settlement Channel host Mark Wahlstrom looks at the issue of whether the Fiduciary standard, which is rapidly becoming the defacto standard on many investment and annuity product sales, will soon impact the structured settlement profession and structured settlements.

Does litigation against the profession indicate greater scrutiny of our sales practices, disclosures and duty to claimants? Watch and find out more or go to http://wahlstromandassociates.com/.

Posted on March 15, 2018 .