GRG offers Fund Administration services to facilitate the timely disbursement of settlement proceeds and the resolution of all settlement considerations.
Our fund administration services work hand in hand with our other complex settlement administration services to directly address account setup, management, disbursement, and closing procedures to provide complete fund protection. We offer two unique solutions: Qualified Settlement Fund (QSF) Administration or Settlement Trust / Escrow Account Services.
Qualified Settlement Funds (QSFs)
The creation of a QSF permits an income tax deduction similar to the deduction available if the defendant were to pay claimants directly. The added benefit of a QSF authorizes the transfer of liability from the Defendant to the QSF and grants the parties involved time to determine the appropriate course of settlement resolution.
QSFs are funds established pursuant to Internal Revenue Code §468B. While assets are in a QSF, they are not “constructively received” by any claimant. Therefore, the creation of a QSF provides time to:
Settlement trusts grant the parties involved time to determine appropriate course of settlement and integrate complex settlement administration protocols such as lien resolution holdbacks and distributions to special needs trusts.
Preferred Banking Program
GRG has collaborated with several of our key banking relationships to create a best-in-class banking platform for your settlement funds. A select group of well-capitalized banking partners will provide an exceptional banking experience that will enhance efficiencies for our clients to create safe, effective quick pay solutions. Benefits include:
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