Perspective
Oct. 8, 2011
When should you use a qualified settlement fund?
What to take under consideration when it comes to using qualified settlement funds. By David M. Higgins of Higgins Settlement Law
Qualified settlement funds are creatures of the Internal Revenue Code. They were first considered by Congress during 1984-86 in order to solve a deduction issue for defendants. Defendants were not able to deduct payments to attorney trust accounts because Congress had earlier required that they be made to plaintiffs in order to be deductible.
The qualified settlement fund was the solution. By making a payment to a qualified settleme...
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