Florida approves of pre-settlement funding!
The State of Florida recently issued an opinion allowing attorneys and claimants to avail themselves of pre-settlement funding. The opininion indicates that an attorney may may provide a client with information about companies that offer non-recourse advance funding and other financial assistance in exchange for an interest in the proceeds of the client’s case if it is in the client’s interests. The attorney may provide factual information about the case to the funding company with the informed consent of the client. Although the attorney may honor the client’s valid written assignment of a portion of the recovery to the funding company, the attorney may not issue a letter of protection to the funding company.
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(The entire Florida opinion can be read here http://www.floridabar.org/tfb/tfbetopin.nsf/SearchView/Ethics,+Opinion+00-3?opendocument )