When you receive an agreement for a personal injury case, it's important to take a deep breath and wait before taking any action. It's essential to understand the tax implications of the settlement and to take care of your financial needs. You may have options when it comes to how you will receive the settlement money, such as a single lump sum payment or several scheduled and structured payments. Defense attorneys may try to delay the payment of your settlement by making the release as long and complex as possible, so it's important to talk to your lawyer about which option would be best for you.
A personal injury lawyer can help you navigate every step of your case, from the discovery stage to the possible trial. Your lawyer can also help you determine if the insurance company is offering you a proper settlement or if you need to go to trial. If you choose a structured agreement, a broker can help you determine the best payment schedule. Insurers generally issue the check in your name and name to your personal injury lawyer and send it directly to the law firm.
It's important to have an effective strategy in place when the personal injury settlement negotiation process begins. Learn more about the process of receiving a payment letter and some of the exceptions to this process for certain claims. Your personal injury lawyer will review the statement very carefully to determine if any part of it is objectionable. The lawyer you meet with will provide you with more information about the settlement process and personal injury law in general.