Summit is dedicated to providing attorneys and clients with as many options as possible for settlements. Because of this, we work tirelessly with our partners to provide solutions that can be tied to the market instead of solely fixed options.
Settlements Plus™ is a settlement option that allows claimants (in both non-physical injury and physical injury cases) to realize potential market-related returns. These investments can be managed by a reputable partner, or by a financial planner chosen by the claimant.
Personal/Physical Injury – Claimants who are suing based on a personal/physical injury who choose the Settlements Plus™ option will see the same income tax-free treatment as standard structured settlements under Section 104(a) of the Internal Revenue Code.
Non-Personal/Physical Injury (Taxable Damages) – Claimants who are suing based on Non-Personal/Physical Injury who choose the Settlements Plus™ option will have the ability to defer taxes on their payments until the years in which payments are received.
Fee Structure Plus®
Fee Structure Plus® provides an alternative to compliment or replace the standard structured attorney fee. With this product, an attorney can invest their contingency fees in a market-based investment portfolio. As with a structured attorney fee, taxes are not due until the year that payments are made. These investments can be managed by a reputable partner, or by a financial planner chosen by the attorney. These can be done on both Non-Personal/Physical Injury cases, as well as Personal/Physical Injury cases.