Rabbi Trusts for Contingency Attorneys: A Modern Tool for Wealth & Tax Planning
Rabbi Trusts for Contingency Attorneys: A Modern Tool for Wealth & Tax Planning By Barry E. Janay, Esq. Understanding Rabbi Trusts A Rabbi Trust is an irrevocable trust arrangement that enables attorneys—especially those working on contingency fees—to defer receipt of fees, allowing for tax-deferred growth and custom-tailored income distributions. Originally adopted for executives, these trusts […]
What is a Rabbi Trust, how can personal injury or other contingency type attorneys benefit from them as a wealth management / tax planning tool?
What is a Rabbi Trust, how can personal injury or other contingency type attorneys benefit from them as a wealth management / tax planning tool? A Rabbi Trust is an irrevocable, employer-established trust used to fund non-qualified deferred compensation arrangements, with assets set aside for designated beneficiaries (often highly compensated employees or, in legal practice, attorneys) but […]