Settlement Awards

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Settlement Advisor Guidance and Strategic Settlement Planning

Whether your award proceeds come in the form of a settlement or verdict, spending time in a prolonged courtroom legal battle can be overwhelming, filled with stress and anxiety. Consulting a settlement advisor during this time can help you navigate the financial complexities and make informed decisions about managing your award.

Working with a fiduciary can ensure your advisor always acts in your best interest. Learn more in our article on hiring a fiduciary financial advisor.

A Settlement & Pre- Windfall: If settlement present itself and both parties can come to an agreement, you may have an opportunity to have a say in negotiating the way your settlement is maximized in your favor.

#1. Contact a financial windfall expert asap. The sooner the better. You might even have enough time left to design and structure the event that maximizes your gains and minimizes a substantial taxable event. We recognize unique scenarios and are able to recommend a team of consultants such as CPA’s, Tax and Estate Attorney’s to help.

For those located in Florida, our insights on financial advisor Florida explain how local fiduciary expertise can help structure settlements effectively.

If you’re in a strong and prolonged emotional state, it’s critical to simply take a pause and hold off on making any major financial decisions.

Contacting a financial expert familiar with sudden financial windfalls can help minimize some of the stress and anxiety you may be having.

If you’re unsure how to find the right professional for your needs, our guide on how to pick a financial advisor outlines key steps to choose wisely and build long-term confidence.

Our latest Inheritance blog: When Boomers Retire, Their Wealth Will Go to the Young and Financially Inexperienced. Is That You?

NEXT STEPS

Award from judgement or verdict: If your situation is an unexpected windfall, it’s highly likely that your emotions are running high. During this time, consulting experienced settlement planning advisors can help you make thoughtful financial decisions and structure your award wisely.

Step:

#1. Simply do nothing. The money isn’t going to run away so live as if it never happened until your emotions stabilize.

#2. We advise not to tell anyone right away if at all. Lottery winners for example are often targets of identity theft or fraudsters.

#3. Don’t make any major purchases right away. Consulting with a financial expert asap to get a handle on the tax implications and start discussing a plan.

If your settlement involves real estate or long-term wealth transfer, our guide on putting your home in a trust provides a clear roadmap for securing property and future estate planning.

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Frequently asked questions

What challenges are commonly faced by individuals who receive settlement awards?

Settlement award recipients often face emotional conflicts and structural challenges in how the award is granted. Managing emotions and ensuring the award is structured to maximize benefits require careful consideration and consultation with a financial advisor.

How can an award structure impact the actual net amount received?

The structure of an award can significantly impact the net amount received. Consulting with a financial advisor before the award is granted helps ensure it is structured in a way that maximizes benefits and minimizes potential tax exposure.

Is financial planning necessary after receiving a settlement award?

Yes, financial planning is crucial after receiving a settlement award. Proper financial planning ensures that the funds are managed wisely, protecting against overspending, and addressing potential tax implications. A financial advisor can help create a plan tailored to individual needs.

AWARD WINNING SERVICES

Windfall Advisors LLC, Founder, Daniel Scott Johnson won “Outstanding Contribution to Wealth Management Thought Leadership (Individual) – Miami at the Family Wealth Report Awards held in Miami on January 16, 2025. 

The Family Wealth Reports provides exlusive intelligence for the family office community.

Windfall Advisors is a Fee-Only Fiduciary and RIA Registered Investment Advisory firm specializing in managing sudden wealth assets for recipients across the country.

Daniel award

CLIENT REVIEWS

100% FIVE STAR REVIEWS ON GOOGLE

What a unique and heartening experience to have an expert share his knowledge without a preoccupation for making a sale. Daniel is a kind, patient and insightful professional.
Adrianna B.
I've only been with Daniel for a few months, but so far it has been a relieving and rewarding experience. He is always very communicative which is much appreciated and you don't see that too often from financial advisors. Looking forward to our continued work together in the years to come.
Logan B.
Daniel is a consummate professional with a very personable approach. He is such a great listener, so he can have that personal connection with his clients, which is how to best meet the needs of the client. Daniel responds promptly and works quickly and efficiently. His knowledge of the many different aspects of financial planning for estates, and for clients who want to get their personal finances in order, is impressive. I really appreciate having Daniel on my side because I trust him. Give him a shout!
Jennifer H.
Daniel and I just started working together. He made what could be a very complicated process extremely streamlined and simple. We were able to set up my account in 15 minutes on the phone together. I am so excited that I now have a true financial advisor, he has made himself available and made me feel comfortable with big financial decisions. I do trust that he will do great things with my portfolio.
Erica W.
I was feeling severely anxious with my finances prior to speaking to Daniel. This kind man took the time to break everything down in simple terms the average person who's just getting started could understand! He can definitely tailor a plan that'll make sense to you and fit your needs. 10/10 would recommend!
Tianna G.
I was feeling severely anxious with my finances prior to speaking to Daniel. This kind man took the time to break everything down in simple terms the average person who's just getting started could understand! He can definitely tailor a plan that'll make sense to you and fit your needs. 10/10 would recommend!
Tianna G.
I was searching for a financial advisor and I found Daniel. Is not the first time I talked to an expert about my finances but Daniel made it easy to understand. He answered all my questions and gave me very good advice. He listened to all my concerns and gave me his honest recommendations. I'm so happy with our phone consultation. I would recommend 100% Windfall advisors to anyone who's looking for guidance with investing, saving accounts options and a lot more. Very professional and knowledgeable.
Anabel R.
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