Things to Consider Before Reaching a Personal Injury Settlement

Before you reach a settlement in your personal injury case, it is essential to make sure that you have carefully considered all of the aspects of your case. There may be extenuating factors that could influence the sum of the settlement that you are ultimately able to receive.

Check with a Personal Injury Lawyer

Before you accept any settlement that is offered by the insurance companies, always be sure to meet with a negligence lawyer. A personal injury lawyer can instantly spot any extenuating circumstances that may give rise to a request for a larger settlement. For example, you may be entitled to a larger settlement if a wrongful termination resulted in your inability to qualify for a new mortgage. Some people depend on a job with their places of employment for being able to qualify for a mortgage for a new home. In the event of a wrongful termination, a person could miss out on buying the home of his or her dreams. A lawyer would likely find a way to calculate the additional damages that a person suffered by not being able to buy his or her dream home.

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Analyzing Your Settlement

If you are pursuing a wrongful death claim, then there will likely be many different expenses that you are expected to pay out. You will likely have to pay for the burial plot of your loved one. You will have to pay for all of the funeral ceremony expenses. A lawyer will likely find that you can include these additional expenses in the ultimate settlement that you request from the opposing counsel. Wrongful death claims can be difficult to handle so it is always a good idea to meet with a lawyer before making any agreements.

Punitive Damages

One factor that you should discuss with your attorney is the possibility of punitive damages. Punitive damages will be taxed after you decide upon a settlement for your case. It is important to discuss how much you will have to ultimately pay in taxes after a settlement has been reached for your case. You do not want to have to pay thousands of dollars for a settlement in the long run. A lawyer can help create a payment plan that will make the payout of your taxes, legal fees and other expenses much more manageable. When you have to repay medical debts with a settlement, these fees can eat huge chunks out of your ultimate settlement.

Emotional Distress Claims

Personal injury lawyers will help you decide whether it is worthwhile to pursue an emotional distress claim in your case. If you are awarded damages for emotional distress arising from a negligence actions, then you will need to pay back all of these fees in the long run.

Pain and Suffering

Lastly, a lawyer can help you calculate the damages that you should request for pain and suffering. It can often be difficult for a victim to quantify his or her pain and suffering so a lawyer is helpful in this regard.

This guest post was provided on behalf of LawBroker, offering free referral services to help you find the best personal injury lawyers in Canada.  Visit http://www.lawbroker.ca/ for more information.

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