ALFA International Diversity Committee

An attorney with over 15 years’ experience, Bethany Palmer Recht earned her JD from Northwestern University School of Law and is a partner with Keating Muething & Klekamp PLL (KMK) in Cincinnati. At the firm, Bethany Recht represents trustees of settlement trusts and funds, advising them in trust and fund administration matters. She also chairs the firm’s diversity committee and serves on ALFA International’s Diversity & Inclusion Committee’s Leaders Forum, on behalf of KMK.

ALFA International is a network of legal firms that came together to promote the delivery of outstanding legal services at reasonable prices. Committed to diversity, the network launched the Diversity & Inclusion Committee to champion diversity and inclusion among member firms. The recently launched Leaders Forum is one example of how it is doing this.

Through the forum, ALFA International keeps member firms informed on the diversity-focused activities it offers and how they can take advantage of them. These include the Practice Group Seminar Scholarship Program, which pays the registration fees of minority attorneys who wish to participate in Practice Group seminars, and the ALFA International Diversity, Equity & Inclusion Awards, which recognize firms at the forefront of making diversity an essential element of their practices.

The Leaders Forum also serves as a platform for member firms to engage with each other and share diversity best practices. They can also give feedback to ALFA International on the effectiveness of its diversity programs.

KMK Law Hosted Virtual Third Annual

An accomplished attorney with extensive experience in commercial litigation, Bethany Palmer Recht represents and advises trustees on all concerns relating to the administration of trusts and funds. Since 2010, Bethany Recht has served as a partner and chairman of the diversity committee at the Cincinnati, Ohio-based Keating Muething & Klekamp PLL (KMK Law).

On January 15 and 16 of 2021, the Cincinnati law firm of Keating Muething and Klekamp PLL (KMK Law®) sponsored the third annual Diversity Case Competition for first-year minority law students in collaboration with the University of Cincinnati College of Law's Center for Professional Development. The competition was conducted entirely online.

The competition simulates the experience of working as an associate in the real world, including the assessment and feedback systems that most legal firms employ. Students competed for cash awards using the case model by demonstrating their analytical, communication, and problem-solving abilities – all of which are essential for success in the legal field. Students were also exposed to actual attorneys and Fortune 500 corporate counsel who acted as mentors and judges for the competition.

Pro Bono Opportunities for Lawyers

Named a Southern California Rising Star by Super Lawyers, Bethany Palmer Recht is an attorney and partner at Keating Muething & Klekamp PLL. For her work on pro bono cases, Bethany Recht was awarded the Pro Bono Service Award.

Pro bono cases are handled by attorneys for the benefit and good of the public. The legal services offered in pro bono cases are provided without charge or for a minimal fee. Pro bono cases can help lawyers expand their reach and practice law in areas that are not their usual focus. For example, IP lawyers can help clients with immigration issues and gain more knowledge in this area of the law. In this way, pro bono cases can open career opportunities and paths for a lawyer.

Young lawyers can take pro bono cases to gain more knowledge and experience, as well as build a network by getting to know lawyers in their own or other firms that they wouldn’t otherwise encounter. At many law schools in the US, for a student to graduate, they are required to offer their legal services and perform up to 50 hours pro bono. This introduces them to this type of work, and may even cause them to shift their career focus after graduation.

Breach of Contract Types

An Ohio native, Bethany Palmer Recht holds a juris doctor and served as an attorney and associate at DLA Piper in Los Angeles. A member of the Ohio Women's Bar Foundation and licensed to practice law in California, Massachusetts, and Ohio, Bethany Recht serves as a partner at Keating Muething & Klekamp, PLL, and assists clients with fraud claims and breaches of contracts.

A breach of contract happens when a person does not respect the agreement and violates its terms or conditions. Breaches of contract can include late payments or failures to deliver a product or asset in written and oral contracts. There are several types of contract breaches, such as minor, material, anticipatory, and actual breaches. A minor breach of contract means late delivery of an item, service, or payment.

A material breach of contract happens when a client receives an item or product that is different from the agreement. An anticipatory breach of contract happens when a party advises another of late delivery. An actual breach of contract is when a party doesn't comply with the agreement.

How Class Action Lawsuits and Mass

A partner at Keating Muething & Klekamp PLL, in Ohio, Bethany Palmer Recht represents trustees of qualified settlement funds and settlement trusts. Formerly serving as an attorney for DLA Piper, LLP, Bethany Recht also represents different entities operating in the mass tort space.

Mass torts are similar to class action lawsuits in that they both consist of plaintiffs who share the same grievance with a defendant. The plaintiffs involved in either type of litigation allege that their common defendant caused harm in some way and seek compensation for these damages.

Despite these similarities, however, mass torts and class actions are handled differently and are two distinct types of litigation. With a mass tort, the group of injured plaintiffs is often smaller than in a class action suit. These plaintiffs are each treated as individuals, but they are connected in some way, such as all being from the same geographic area. Since plaintiffs are seen as individuals, they each must prove how the defendant allegedly injured them.

In class action suits, on the other hand, an individual known as a class representative represents the entire group of plaintiffs. The group is seen as a single entity and not as individuals belonging to a group. When a class action is filed, all individuals in the class must be notified. This gives them the opportunity to find their own counsel or opt out of litigation entirely.

Tax Implications for Qualified Settlement Funds

 Bethany Palmer Recht has served as an attorney for more than 15 years. She began her career at Weil, Gotshal & Manges, LLP, and now serves as a partner at Keating Muething & Klekamp PLL, as well as chair of the firm’s diversity committee. At this firm, Bethany Recht represents trustees of both settlement trusts and qualified settlement funds (QSFs).

A QSF, also known as a Section 468B trust, is a trust set up for settlement proceeds. Its purpose is providing funds deposited into the trust to various claimants according to an agreement set up via court order or among the parties involved. Once the funds have all been distributed, the QSF no longer exists, since it’s only a temporary trust.

While QSFs receive special treatment when it comes to taxes, they are not wholly exempt from taxation. Typically, a QSF is viewed as a distinct tax-paying entity and required to make annual tax filings and tax payments. State taxation varies based on the location of the QSF, but federal tax for a QSF’s income is 35 percent.

In addition, QSFs must adhere to different tax liabilities depending on how they operate and how they are set up based on legal documents. In the event the fund pays wages to a beneficiary, it is viewed as an employer and must pay taxes accordingly. For distributions that are not regarded as wages, the QSF has additional tax implications, like reporting the amount of these distributions on its annual tax forms.

Having an Article Published in a Scholarly or Professional Publication

Business Newspapers

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A partner and accomplished attorney at Keating, Muething, and Klekamp, PPL, Bethany Palmer Recht has nearly 15 years of experience practicing at firms in California, Massachusetts, and Ohio. Experienced in insurance coverage and mass tort settlement trusts, Bethany Recht is the co-author of the article, “Breaking Up Is Hard to Do,” which appeared in the January 2009 issue of Los Angeles Lawyer.

Publishing a scholarly article is extremely helpful for a young lawyer’s career. Listed below are three tips to follow to get your work published.

1. Be mindful of publishing timelines. Though law reviews accept submissions at any time, most seriously consider them at two main times: during the month of March and from late August until early September. Consider creating a timeline for yourself so your article can be completed in time for these two submission periods.

2. Choose the right topic. Focus on subjects you are passionate about that are relevant to your practice area. This builds your credibility as an author and motivates you in your research. Consider also how many articles have been written about your chosen subject, as your article is more likely to be published if it is on a relatively new and unknown topic. Don’t forgot to consider your employer when choosing a topic; avoid anything that may seem controversial or offensive to your clients and colleagues. Many employers have policies in place dealing with employee authorship, and some may have clearance procedures or internal review requirements.

3. Stay on track and do your research. Keep a writing schedule and seek opinions from your colleagues, family, friends, or even former law professors. Also, make sure you read up on the different requirements for submissions to journals and submit to several for the best chance at publication. If your article is repeatedly rejected for publication, let it sit for a while and come back to it to reassess and make appropriate changes.

Mass Torts - A Legal Remedy for Error, Injury, or Negligence

Bethany Palmer Recht serves as partner of the law firm of Keating Muething & Klekamp in Cincinnati, Ohio, where she consults with clients on managing settlement trusts. Bethany Recht’s other responsibilities involve handling awards from mass tort actions. 

In a mass tort lawsuit, a group of persons who have all been affected by the same mistake on the part of a company - such as in product liability cases - seek legal redress. It is similar to a class action lawsuit, but in a mass tort each plaintiff receives a separate trial. 

Many events can be the subject of a mass tort. Apartment fires, air crashes, plant explosions, anti-trust actions, and pharmaceutical errors are all frequently litigated. Other reasons range from bodily injury to negligence on the part of the federal government. 

Mass torts are expensive to take to trial. Law firms must be well-capitalized to handle large outlays for gathering evidence, finding expert witnesses, court costs, and travel expenses. Partly because of these expenses, law firms often settle the plaintiff’s claims before trial.

What Is a Qualified Settlement Fund?

Previously an associate at DLA Piper in Los Angeles, Bethany Palmer Recht is now a partner at Keating Muething & Klekamp PLL. From her Cincinnati, Ohio office, Bethany Recht represents trustees of settlement trusts and qualified settlement funds (QSFs).

QSFs, also referred to as 468B trusts, are settlement tools that allow the settlement of mass tort litigation or cases involving multiple claimants. They are established pursuant to the orders of a governmental authority, resolve claims arising from an event or series of events, and segregate the assets of the fund from the transferor, in this case the defendant. Therefore, once a QSF is established, the defendant transfers assets into it and is absolved from liability while the claimants get to receive a proper settlement without going through a rigorous litigation process. 

QSFs have many advantages for both claimants and defendants. For defendants, not only are they released from all claims, but payments into the QSF are tax deductible, hence companies receive immediate tax deductions from such transfers. For claimants, the QSF allows for time to agree on favorable settlement options within themselves - the defendants have already settled their part, and it is now up to the claimants to agree on the allocation of funds. It also allows time to settle lien claims and in some cases, where there is the risk of insolvency of the defendant, the QSF ensures claims are settled before funds are no longer available.