Liens are often the last obstacle between the claimant and their settlement funds so choosing a strategic and experienced resolution company is paramount. Even more important is choosing a lien resolution company that can not only resolve liens, but can simultaneously provide pre-settlement consulting services; medical record review; score claims and create matrices to allocate funds; and manage Qualified Settlement Funds. Lien Resolution Group will help you and your clients avoid delays and keep costs at bay. Law firms have been relying on LRG for decades to successfully navigate complex settlement obligations and bring closure to their cases.
Pre-Settlement Consulting Services
It is important to consult LRG early in your litigation to ensure that lien resolution is efficient and smooth come settlement. LRG is retained to discuss data points included on plaintiff fact sheets that later inform and expedite the intake process. These data points can then be immediately returned to LRG and imported into the case management system, which greatly reduces the resolution time come settlement. LRG works with clients to analyze case facts to determine if it is fit for global lien resolution and modeling, and can present draft models to agencies ahead of settlement, if appropriate.
Medical Record Review
LRG’s HIPAA compliant technology allows for easy receipt of hundreds of thousands of medical records that are tied to claimants’ files and queued for review. LRG’s reviewers and nurse consultants carefully review medical records to evaluate and isolate case related injuries apart from pre-existing and unrelated health issues. All notes and summaries are carefully documented in our intuitive management system.
Score Claims and Allocate Funds
LRG works with the court and settling parties to create matrices to allocate settlement funds. Our allocation services include review of medical records; analysis of use/exposure/implant and manifestation of symptoms; and detailed reports on the matrix created, categories assigned, and unrelated or other complicating factors what would diminish an award. Law firms rest easy knowing that similarly-situated claimants are treated the same and the funds are fairly distributed.
QSF Fund Management
LRG provides controlled and secured services to manage all aspects of distribution, including Qualified Settlement Funds pursuant to Internal Revenue Code 468B, tax reporting, diverse investment options, comprehensive escrow services, and controlled distribution of attorney fees, expenses, and claimant awards.
IRC Section 468B was added to the Internal Revenue Code as part of the Tax Reform Act of 1986 to allow defendants to obtain immediate tax deductions in tort claims rather than waiting for “economic performance” to occur. The advantages of QSFs to personal injury claimants include avoiding the constructive receipt of the court judgment or settlement and allowing time to negotiate the resolution of liens and other expenses against the settlement.
Proceeds that have been deposited into a QSF can be paid in cash to the plaintiffs, paid into a Special Needs Trust, or used to buy a structured annuity allowing the same tax advantages to the claimant as a structured settlement purchased by a defendant insurance carrier.