Get Started with GRG's Fund Administration Services

Fund Administration

GRG offers Fund Administration services to facilitate the timely disbursement of settlement proceeds and the resolution of all settlement considerations. 

Our fund administration services work hand in hand with our other complex settlement administration services to directly address account setup, management, disbursement, and closing procedures to provide complete fund protection. We offer two unique solutions: Qualified Settlement Fund (QSF) Administration or Settlement Trust / Escrow Account Services.

Qualified Settlement Funds (QSFs)
The creation of a QSF permits an income tax deduction similar to the deduction available if the defendant were to pay claimants directly. The added benefit of a QSF authorizes the transfer of liability from the Defendant to the QSF and grants the parties involved time to determine the appropriate course of settlement resolution. 

QSFs are funds established pursuant to Internal Revenue Code §468B. While assets are in a QSF, they are not “constructively received” by any claimant. Therefore, the creation of a QSF provides time to:

  • Resolve any reimbursement rights or liens that private companies or government agencies may have against a claimant’s settlement award amount
  • Evaluate the preservation of a claimant’s governmental entitlement benefits
  • Objectively allocate settlement proceeds among claimants

GRG’s QSF Administration Services:

  • Serve as trustee and fiduciary to obtain a tax payer identification number
  • Coordinate the procurement of a financial advisor for the fund
  • Establish and maintain the fund’s investment account
  • Employ a compliance officer to manage fiduciary decisions and duties associated with the QSF
  • Coordinate the disbursement of attorney fees, expenses, and net claimant awards  and assure compliance with the terms of the Master Settlement Agreement

Settlement Trusts

Settlement trusts grant the parties involved time to determine appropriate course of settlement and integrate complex settlement administration protocols such as lien resolution holdbacks and distributions to special needs trusts.

GRG's Settlement Trust Services:

  • Serve as trustee and fiduciary to obtain a tax payer identification number
  • Develop the most secure manner of holding settlement funds to protect principal, considering current economic and other regulatory challenges
  • Establish and maintain the fund’s investment and disbursement account
  • Serve as a bridge betweeen settlement terms and conditions for funding and bank regulatory practices in account structure opening and management
  • Provide a compliance team and fiduciary to manage account operational decisions and duties associated with the settlement fund
  • Coordinate the disbursement of attorney fees, expenses, and net claimant awards and assure compliance with the terms of the Master Settlement Agreement
  • Provide reports to courts and other stakeholders as necessary and appropriate
  • Coordinate all income tax return reporting and estimated tax payment duties and responsibilities as fiduciary