I don't usually refer readers over to my blog on Wahlstrom & Associates but I just did an update on the Owens Corning asbestos settlement and the important decision facing trial lawyers who have fee claims as part of that settlement.
We are all aware that clients can structure out of the settlement trust, or 468B qualified settlement fund, that was established at the time the Owens Corning bankruptcy was filed. The means and methods for clients to structure fee's out of asbestos cases is pretty well established and part of the settlement process.
What is less well known and talked about is that the trial lawyers who have fee claims out of the trust have the same option to structure their legal fees using settlement annuity pricing and flexibility to defer their earnings into future years, fund retirement plans, fund operational overhead, etc.
It's not a detailed review of options, but we have created language necessary for attorneys to file with the trustee in order to insure their ability to structure their payments and thus gain the benefit and security of income deferral to future years. You can read it by clicking here.