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Clients often ask us how to value a personal injury claim, and the honest answer is that no case is ever the same. That said, there are some parameters we consider in valuing claims for our clients. In personal injury cases, if an insurance adjuster is using a damages formula to value your claim (which is almost always the case), it is usually based on a multiplier of between one-and-a-half to five times medical costs. This is how the adjuster typically arrives at a base negotiating figure — not including lost income. However, in some cases, certain factors line up...

Seattle Police Brutality

Sep 02 2015

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Much has been made of the growing number of police brutality cases after the recent deaths of unarmed black men committed by white police officers. More and more attorneys are taking on allegations of police misconduct. The trend is driven by the lure of big settlements, a growing body of evidence as more alleged victims record police interactions, and a high demand from potential clients who want to go after police departments they see as corrupt. Cities are more willing to pay out increased monetary settlements and court judgments. The 10 largest municipal police departments in the U.S. paid a...

The Basics of a 1031 Exchange

Mar 27 2015

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Here, we discuss a Section 1031 Exchange used for investment or business purposes (note: this is not applicable if used as a primary residence). Basic Rule: IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Gain deferred in a like-kind exchange under IRC Section 1031 is tax-deferred, but it is not tax-free. What all of this means in plain English: if you are selling an investment property at a gain, consider using a 1031 facilitator to defer gains. If...

How to Deal with Student Loans

Jan 22 2015

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It is a worst case scenario: you are out of school, but you haven’t found a job yet. You just received your first letter from your student loan servicing company, “welcoming” you as a customer, but all you see is the amount due – and you cannot afford it. It is a more common problem than you would expect. Six months, while it sounds like a long time while you’re in school, flies by when you’re out of school. And once your grace period is over, you are going to have to start paying back your student loan debt. Unfortunately,...

Extension of Mortgage Debt Relief Act 2014

Dec 25 2014

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Great news! Congress has (finally) passed a package of tax extensions approved by the U.S. House and Senate — currently headed to the President’s desk for signature — which includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. See original article here. The law will be extended through 2015. Why is this so important? Imagine losing a life savings in an underwater property. Then, you sell it and/or have it foreclosed and get hit with a large tax bill from Uncle Sam. If this doesn’t sound fair, that’s because it isn’t. We...