The Settlement Calculator helps you quickly validate settlement scenarios to determine case viability by centralizing all damages, expenses, liens, and fees associated to a matter. Plug in estimated or determined values to get immediate projections on key data points such as your firm’s net attorney fee and client’s total payout. 

With the Settlement Calculator, you can:

  • Effectively negotiate with insurers and medical providers 
  • Identify optimal settlement values
  • View unresolved damages and expenses 
  • View all resolutions and negotiations related to the settlement 

Required Permissions

  • Litify Matter User
    or
  • Litify Power User 

Basic Navigation

  1. Navigate to Litify Matters > Matters > select a Matter.
  2. Navigate to the Financials tab. 

Summary & Total Client Payout

The top of your Settlement Calculator displays all key financials about the matter. 

  • Settlement/Verdict Amount: Factored against all anticipated expenses, damages, liens, and fees.
  • Selected Case Value: Total value of expenses, damages, and liens.
  • Selected Case Balances: Outstanding expenses, damages, and liens to be paid.
  • Principle Attorney: Attorney fees broken down by dollar amount and percent.
  • Partner Firm: Partner Firm’s fees broken down by dollar amount and percent. 
  • Total Client Payout: The final payout of the Settlement/Verdict Amount after all outstanding expenses, damages, liens, and fees are applied. 

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Edit Settlement/Verdict Amount 

  1. Navigate to Litify Matters > Matters > select a Matter.
  2. Navigate to the Financials tab. 
  3. Select the Settlement/Verdict Amount input field. 
  4. Enter a numeric value.

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Amount is automatically applied to all other calculations. 

Edit Attorney & Partner Firm Fees

These steps apply to both the Principle Attorney and Partner Firm cards. 

  1. Navigate to Litify Matters > Matters > select a Matter.
  2. Navigate to the Financials tab. 
  3. Select the Edit icon > input a numeric value or a percent value.
    • Both value options are linked; when one is updated, the other updates.
  4. Select the Checkmark button to see new projections. This does not save your changes to the matter’s official fee structure.
  5. Save To Matter.  Only save if you are permanently changing the fee structure for this matter. sc3.jpeg

The Total Client Payout and Net Attorney Fee automatically update.

Case Financial Itemization 

Track and update all expenses, damages, and liens from the Settlement Calculator. Items listed in this section are related to the matter and can also be found in the Related tab. 

Add Financial Items

You cannot add new expenses, damages, or liens from the Settlement Calculator. You must add these from the Related tab. 

  1. Navigate to Litify Matters > Matters > select a Matter.
  2. Navigate to the Related tab. 
  3. Select New next to the record’s Expenses, Damages, or Liens.sc4.png
  4. Fill out all fields in the modal.
  5. Save

The newly added related item now appears in the Settlement Calculator. 

Edit Financial Items 

You can edit the following fields for related financial items:

  • Name: Updates the record’s name.
  • Type (picklist): Updates the record’s type.
  • Amount: Updates the record’s cost.
  • Reductions: Updates the record’s amount of cost reduced. 
  • Amount Due: Updates the record’s outstanding payments due.
  • Provider (picklist): Updates the party associated to the Provider role.
  • Payee (picklist): Updates the party associated to the Payee role. 

To edit other details on the financial item you must navigate to that specific record.

  1. Navigate to Litify Matters > Matters > select a Matter.
  2. Navigate to the Financials tab. 
  3. Scroll to the Expenses, Damages, and Liens.sc5.png
  4. Select the Edit icon > input a numeric value.
  5. Save

Select/Deselect Financial Items 

Determine which outstanding financial items you want to factor into the anticipated Settlement/Verdict Amount.

  1. Navigate to Litify Matters > Matters > select a Matter.
  2. Navigate to the Financials tab. 
  3. Scroll to Expenses, Damages, and Liens.
  4. Enable or disable the checkbox next to the item you wish to update.sc6.png

Negotiations

Create negotiations off of a matter record from the Settlement Calculator. 

Create Negotiation 

  1. Navigate to Litify Matters > Matters > select a Matter.
  2. Navigate to the Financials tab. 
  3. Scroll to the bottom of the page and select Create Negotiation.​​​sc9.png

For an in-depth look at Negotiations, see our user guide. 

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