Many people have received their “sudden wealth” through a lawsuit or settlement. Although each situation is unique, what is common to nearly all of them is that they or someone close to them were harmed in some fashion, in essence perpetuating the legal process. While there are many important legal, tax, and financial issues that need to be addressed, many times the tallest hurdle is handling the “emotional rollercoaster.” Part of the frustration is the slow legal system and the seemingly invasive procedures necessary to achieve a successful verdict. And for many people, percolating just below the surface is the pain they have experienced in their fight for justice.
Our work over the years with clients who have received a legal judgment or settlement has been humbling. Often they are the unassuming underdog; fighting for what is right and often taking on near impossible odds. However, when justice does prevail, many see their “win” as bittersweet. Their financial “windfall” is not because they won the lottery or sold their company, it’s nothing more than rightful compensation for an injury of some sort, for pain they experienced, or for a loss they endured. However, regardless of the amount of money they receive, sometimes the wrong can never be made right even though they “won."
It is a great honor as well as an immense sense of responsibility to guide these clients. Helping them navigate the countless legal, tax, and financial decisions they have to make before and after they are awarded a judgement or settlement is nothing short of astonishing. If you’re in the process of receiving a legal judgement or settlement or have already received one, please contact us and we’ll be happy to help with any questions about how we work or about your personal situation.
Here are a few of the most common questions we help our client answer