I don't know how many attorneys take Forge Consulting seriously about the "equivocated guaranteed rate of return at approximately 15%" that it continues to advertise for structured attorneys fees. It may look nice dancing on the hook, but the fish should be looking at it with their most skeptical wall-eye.
Here is something of further concern, a statement quoted from the same Forge Consulting advertisement:
"The U.S. Court of Appeals for the 11th Circuit has affirmed that attorneys who defer the payment of their fees pursuant to a structured settlement are not required to include them in their taxable income, until the year that the fees are received under the terms of the structure (Richard A. Childs, et al vs. Commissioner of Internal Revenue 103 T.C. No. 36 Docket No. 15639-92). Therefore, income taxes on attorney fees from the tort award are payable only when the amounts are received in each annuity payment."
Commentary: While the United States Court of Appeals for the 11th Circuit concluded (over 11 years ago) that the facts in Childs favored the attorney taxpayer in that case, the Childs case applies to a single Circuit and a specific set of facts. Therefore It would be foolish for any attorney to rely solely on the Forge Consulting statement. A number of tax principles come into play when it comes to the subject of structuring attorney fees. It's important to consider these in advance of the conclusion of any case.
More on Structuring Attorney Fees:
Structuring Legal Fees is An Excellent Deferral Strategy For Plaintiff Lawyers
Structuring Attorney Fees: Kingdom of Heaven? Robert Wood, Esq.