Trust Administration

Hoffman Clark provides trust management and claims administration expertise for class action settlements. Our approach to trust management and claims administration is based upon accurate processing procedures and sound accounting practices. We are experienced in working with trusts, including serving in a fiduciary capacity.

Mass Tort

Hoffman Clark has been engaged as a fiduciary and Court designated settlement Administrator responsible for managing and overseeing mass tort claims processing and serving as Trustee for Qualified Settlement Fund (QSF) assets. Mass tort matters may involve a large amount of complex claims and ongoing management of an entity responsible for mass tort liabilities. Our team has the experience and unique combination of skills necessary for the duties and responsibilities of mass tort services.

We strive to deliver our trust services and claims processing services in a cost-effective and responsive manner. Our trust management and claims administration services are outlined below.

Qualified Settlement Fund Management

  • Assist in settlement negotiations
  • Coordinate or perform any mailings associated with notice plans
  • Establish fund accounts with financial institutions
  • Facilitate communication between constituents
  • Monitor funds during the term of the Qualified Settlement Fund
  • Process claims by individual class members
  • Collect and maintain requests for reimbursement
  • Maintain appropriate books, records and documents
  • Conclude the fund’s affairs and submit final accounting

Claims Processing Management

  • Process, review and analyze claims
  • Verify and validate claims and settlement amounts
  • Reporting on mass tort claim processing activity
  • Design and implement secure customized website
  • Claims database analysis and management
  • Email and first-class mail noticing
  • Toll free phone line with message system
  • Telephone and email support personnel
  • Interface with attorneys and other professionals

Trust Accounting Services

  • Accounting for Qualified Settlement Fund income and expenses
  • Receipt of funds, invoicing and recordkeeping for cash receipts
  • Preparation of disbursement and reconciliation of distribution amounts
  • Payment of amounts due and recordkeeping for fund transactions
  • Tracking/documenting reserves established, spent and available
  • Preparation of financial statements
  • Manage and monitor financial institutions

Trust Tax Services

  • Manage tax planning and compliance procedures
  • Acquisition of Qualified Settlement Fund (QSF) tax identification number
  • Prepare and file income tax returns
  • Contributions and distributions of property treatment
  • Quarterly estimated payments
  • Representation before taxing authorities