Focused solely on winning the case, don’t forget the business side of contingent litigation

Successful trial attorneys focus on winning their cases — which is how it should be. But too often, this focus on the meat of their work leads them to overlook an important business task: managing their money in a way that optimizes the availability of capital. Without paying attention to this important detail, many contingency-fee attorneys end up endlessly tying up their profits in case expenses, losing opportunities to run or expand their business with that money. Some attorneys even have to refer away new cases because they can’t afford to take them on. And because that money is after-tax profit, these attorneys lose the opportunity to claim it as legitimate business expenses on their taxes. Until recently, trial lawyers didn’t have much choice about this. Traditional banks cannot offer loans secured by future verdict or settlement profits — even if everyone agrees that you’re sure to receive that money. Without many other options, attorneys would settle into a cycle of collecting a big fee, then plowing most or all of it right back into the next case. That money tied up in litigation represented a lost opportunity to meet day-to-day expenses; lower their tax burden; expand their business; take on more challenging cases; or invest in their own or their children’s future. There are now many different ways out of this cycle. From loans secured by your portfolio of cases that can be four to five times larger than a traditional bank could offer to structured fee options that can eliminate the severe peaks and valleys in a contingent fee law firms cash flow.

About Bill Tilley

Bill Tilley, President and Chief Executive Officer – Bill Tilley is the President and CEO of Amicus Capital Services LLC and is responsible for managing day to day operations, marketing, originations and client relations. In addition Mr. Tilley serves on the credit committee along with the three other members. For the past ten years Mr. Tilley has been devoted to creating and then fine-tuning the legal finance industry. Mr. Tilley joined Themis Capital in 1999, launching the legal finance industry in California. Within two years California became the largest market for legal loans. Mr. Tilley was instrumental in growing Themis from $12 million in loans upon his arrival to more than $135 million in less than 4 years. After successfully winding down the Themis portfolio in 2004, Mr. Tilley became the largest broker of legal financial services while consulting exclusively for Counsel Financial Services through 2006. He continued his devotion to creating a full service financial services company that caters exclusively to the legal community leading to the launch of Amicus Capital Services, LLC in early 2007. In 2008 Mr. Tilley expanded Amicus’ financial offerings to include structured settlement/ fee products as well as financial advisory services. Mr. Tilley has personally originated more than $100 million in attorney loans and has participated in the origination of more than $200 million. Mr. Tilley counts several of the most successful plaintiff attorneys in the country as personal friends and has developed a network that includes thousands of invaluable industry contacts. As an expert on legal finance Mr. Tilley has spoken numerous times at attorney conferences throughout the country. In addition Mr. Tilley was recognized on Public Justices wall of honor for his efforts in promoting the non-profit public interest association.
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