Year End Cash Flow Planning

As year-end approaches, plaintiff attorneys should remember that they can structure their fees. With just a few weeks left in 2010, now is a great time to consider cash flow planning.

Structuring fees allows attorneys paid on a contingent-fee basis to recognize taxable income as they receive their periodic payments. The entire fee can be used to purchase periodic payments with pre-tax dollars, providing a greater initial investment and potentially reducing their overall tax burden.

Contingent attorney fees that result from both qualified and non-qualified settlements can potentially be structured. The periodic payments can be customized to provide a stable income stream that can provide for retirement or ongoing expenses of the law firm. In addition, future lump sum payments can be established to pay for large anticipated expenses.

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.
This entry was posted in Law firm consulting, Legal Finance, Structured Attorney Fee. Bookmark the permalink.

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