Grow Your Law Firm Structuring Financial Settlements for Long-Term Stability With David Carrier
Feb 20, 2026
David Carrier, a Michigan estate planning and elder law attorney with 30+ years helping families protect assets. He discusses why life-changing settlements vanish, how irrevocable trusts and structured distributions preserve awards, and why annuities often fall short. Short-term payouts vs tailored trust rules, professional co-trustees, and ongoing post-settlement care are highlighted as ways to secure long-term stability.
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Why Windfalls Vanish Fast
- Large inheritances and settlements often disappear quickly due to human psychology and familiarity with previous financial levels.
- David Carrier notes inheritances under $1M vanish in ~9 months and over $1M in ~18 months without structure.
Personal Cost Examples Show Rising Needs
- David Carrier recalls housing and college costs rising dramatically over his lifetime to show lasting value changes.
- He uses his Notre Dame tuition example to highlight why settlements should be preserved for future needs.
Put Settlements Into Irrevocable Trusts
- Do use an irrevocable trust to protect a large settlement from creditors and impulse spending.
- David Carrier recommends keeping the beneficiary involved in investment decisions while placing assets off the table.