alumni focus FSU LAW ■ SPRING 2006 Securing Financial Futures 10
Jason Lazarus Helps Claimants Plan for What’s Next B Y DAVE FIORE Many lawyers help victims in personal-injury cases recover money after an accident. But it’s after <strong>the</strong>se recoveries have been made that Jason Lazarus steps in: He helps claimants receiving personal injury awards make wise choices about <strong>the</strong>ir fi nancial futures. Lazarus is a certifi ed structured settlement consultant and president <strong>of</strong> Millennium Settlements, which specializes exclusively in advising personal injury victims. He also is Of Counsel and a founding member <strong>of</strong> Attorneys Settlement <strong>Law</strong> Group. The fi rm handles special-needs trusts, public benefi t preservation issues, guardianship, probate, estates and trusts. The 1996 graduate <strong>of</strong> <strong>the</strong> <strong>Florida</strong> <strong>State</strong> <strong>University</strong> <strong>College</strong> <strong>of</strong> <strong>Law</strong> says his multiple business interests keep him busy. “I am always wearing at least three hats. I am working on my own cases helping personal injury victims. I am acting as president <strong>of</strong> Millennium—running day-to-day operations and overseeing a staff <strong>of</strong> more than 20 consultants across <strong>the</strong> country. And I am providing services on an Of-Counsel basis at <strong>the</strong> law fi rm.” In <strong>the</strong> past, settlements were made to claimants in personal-injury cases as lump-sum cash payments. But <strong>the</strong> laws changed in <strong>the</strong> 1970s, allowing defendants to purchase structured settlement annuities to fund <strong>the</strong>ir obligation to claimants and make installment payments over long periods <strong>of</strong> time to satisfy <strong>the</strong> settlement. While at fi rst this system <strong>of</strong> payment was used almost exclusively for large, catastrophic-injury cases, claims as small as $5,000 now are being structured. Most settlements include up-front cash for attorney fees, medical expenses and existing liens resulting from <strong>the</strong> injury, but <strong>the</strong> claimant still is faced with handling <strong>the</strong> balance <strong>of</strong> <strong>the</strong> settlement and protecting it so that it serves its intended purpose. Lazarus says that while he and his colleagues deal in personal injury cases, <strong>the</strong>y are not personal injury attorneys. “Trial lawyers bring Millennium in to work with <strong>the</strong>ir personal-injury clients—to advise <strong>the</strong> client about <strong>the</strong>ir fi nancial options,” he said. “We are not competing for <strong>the</strong> same services. We have no involvement in <strong>the</strong> representation—we get involved only at <strong>the</strong> end when it is being settled or after <strong>the</strong> verdict.” He says <strong>the</strong> same is true for Attorneys Settlement <strong>Law</strong> Group. “I found a disconnect between <strong>the</strong> delivery <strong>of</strong> fi nancial services and legal services such as special needs trusts. Our fi rm does <strong>the</strong> back-end legal services while Millennium provides advice to clients on fi nancial planning. I had to seek an ethics opinion from The <strong>Florida</strong> Bar to make sure it was not a problem to assist with both activities. The Bar said that it was OK with proper disclosure to our clients.” Lazarus says he was introduced to structured settlements by pure chance. “I was talking with Millennium owner Chris Diamantis, a good friend and my neighbor in law school,” he said. “When I mentioned that I was considering leaving <strong>the</strong> practice <strong>of</strong> law, he asked if I would consider getting into structured settlements. I researched <strong>the</strong> niche and found out that <strong>the</strong>re were a small number <strong>of</strong> people in <strong>the</strong> fi eld compared to <strong>the</strong> size <strong>of</strong> <strong>the</strong> plaintiffs bar.” It turned out to be a great fi t. “I get to use my legal training as I have to review a lot <strong>of</strong> legal documents, and <strong>the</strong>re are always questions pertaining to settlement law that have to be answered,” he said. “I do a lot with <strong>the</strong> preservation <strong>of</strong> public benefi ts, because <strong>the</strong> injured <strong>of</strong>ten end up on public assistance. They can’t meet <strong>the</strong>ir needs because <strong>of</strong> <strong>the</strong> severe injuries <strong>the</strong>y have sustained. It takes special planning for those people—part fi nancial and part legal.” Being a lawyer also has helped him gain <strong>the</strong> trust and respect <strong>of</strong> <strong>the</strong> trial lawyers that he works with on a daily basis, Lazarus says. ‘I am always wearing at least three hats. I am working on my own cases helping personal injury victims. I am acting as president <strong>of</strong> Millennium—running dayto-day operations and overseeing a staff <strong>of</strong> more than 20 consultants across <strong>the</strong> country. And I am providing services on an Of-Counsel basis at <strong>the</strong> law fi rm.’ After receiving a bachelor’s degree from <strong>the</strong> <strong>University</strong> <strong>of</strong> Central <strong>Florida</strong> and graduating with high honors from <strong>the</strong> <strong>College</strong> <strong>of</strong> <strong>Law</strong>, Lazarus practiced as a medical malpractice and workers’ compensation attorney in Orlando. In addition to being a member <strong>of</strong> The <strong>Florida</strong> Bar, Academy <strong>of</strong> <strong>Florida</strong> Trial <strong>Law</strong>yers and American Trial <strong>Law</strong>yers Association, he holds a Life, Health and Variable Annuity license plus a Series 6 Securities license. Lazarus, who is married with three children, says he is excited about <strong>the</strong> direction <strong>of</strong> Millennium and <strong>the</strong> new law fi rm. “We have a found a unique niche and are stepping forward to make a big difference—both for our success and in <strong>the</strong> lives <strong>of</strong> <strong>the</strong> people we serve.” k 11 FSU LAW ■ SPRING 2006 ALUMNI FOCUS ■ Jason Lazarus
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