FGI has partnered with Eastern Point Trust Company, a national-scope provider of specialized trust services, to develop a charitably-based solution to help plaintiffs reduce taxes on their recovery – the Plaintiff Gain Transaction (PGT).
Business and individual plaintiffs with taxable recoveries are often taxed unfairly:
A PGT converts recovery revenue into “capital gain,” which is taxed at lower rates than ordinary income. And a PGT can be combined with structured settlement programs to spread receipt of the recovery over many years, further lowering the tax rate. For plaintiffs who will be taxed on their attorney fees (due to the “plaintiff double tax”), they can combine the PGT with the Plaintiff Recovery Trust [link to PRT page].
FGI makes this possible through a specially designed charitable sale transaction. FGI buys and owns the plaintiff’s claims, paying the plaintiff upon recovery. Through the process, the plaintiff directs their law firm on whether and how to resolve the claims. Each PGT benefits FGI, increasing our ability to help plaintiffs around the country through charitable causes like the Plaintiff Fund.
