It’s that time of year again. Yes, there’s the hustle and bustle of the holiday season. Yes, there’s the opportunity to think about your resolutions for the new year. And it’s time to go through your year-end expenses.
As an attorney, those year-end books can mean juggling a lot. In fact, that might be what motivated you to set up structured attorney fees. With this reliable, regularly paying asset, you have a continual cash flow.
But 2020 has taught us all that nothing is predictable. And a steady income stream may not be your top priority right now. In fact, you might want to make a change, embracing what this year has started. You might be thinking about doing away with your permanent commercial space or streamlining your team, for example. As we head into a new year and the second wave of this pandemic, you can grab the bull by the horns to make changes that will serve you for years to come.
The issue is that some of those changes will require cash. Fortunately, selling payments from your structured attorney fees can free up the capital you need.
Creating Liquidity from Your Structured Attorney Fees
You already know that you can’t change your attorney fees structure. But that doesn’t mean you’re locked in with your current payment plan.
Instead, you have the option to sell a portion of your payments from that structure. In this way, you can get the cash in hand you need now while still protecting future payments from that structure.
At Strategic Capital, we can help you explore options to sell as many of your structured attorney fees as you need or want. Whatever venture you need to fund, we’re here to review the choices available to you so you can choose the right one.
Selling some of your structured attorney fees could also be a way to make paying for a significant tax payment, litigation, or another unplanned expense more comfortable.
In short, if you ever need a lump sum of cash, your structured attorney fees can step in. You’ll just need to sell some of the payments to free up some of that money for the purpose you need.
Get the flexibility you need to pivot your financial strategies
Ultimately, this year has been both challenging and illuminating. It might have shown you that some of your financial strategies weren’t serving your interests as well as you thought.
Office space is a prime example right now. You may have thought that commercial space was a necessity. But the pandemic has enabled so much virtual work that many people are finding they no longer need to lease or own an office.
Even so, you don’t want to work from your couch with your laptop, either. You can sell some of your structured attorney fees to add an office to your home and purchase the necessary furniture and equipment to enjoy a well-appointed office space.
This is just one example. What would your ideal 2021 look like? If you’re interested in liquidating some of your structured attorney fees to fund a change, don’t hesitate to contact our team at Strategic Capital today.
