This form of damages is given above and beyond any compensatory damages. They are only awarded in cases where serious injury has occurred or where the defendant was so negligent that the judge wants to set an example. The judge does this by adding additional financial penalties in order to make a point. These are hard to quantify and fall squarely on the judge. Judges use them as a deterent.
Don’t wait until injuries get worse
Many people often think that their injuries after an accident are minor and don’t need medical attention. While that sometimes might be true, you don’t know until you get medical attention. Often, many victims inadvertently harm their future personal injury claim by delaying treatment. It’s crucial to get treatment as quickly as possible. Many injuries, if not treated quickly, can become worse and cause serious pain later on. If you delay getting treatment, it’s common for the other insurance company to deny your claim. They will argue is that your injuries happened from something after the accident. That’s why it’s crucial you get medical attention and treatment immediately after the accident. It creates a documented track record of your injuries, and it’s something that the injury attorney you hire will expect. Not having this lowers your chance of getting the full compensation you rightfully deserve.
We can help you determine the value of your claim.
Understanding the value of your claim is an important question. During your initial consultation with one of our lawyers, we can help clarify what your personal injury claim might be worth. There’s no exact way of predicting it, but we can tell you the general things judges/insurance companies given compensation for. For example, you can get compensation for past/future medical bills, lost wages (past and future), loss of earning capacity, pain and suffering, and, in some cases, if you go to trial, punitive damages. While there’s no real blueprint on what a case’s value is worth, there are certain factors we know the courts consider for awarding compensation. These factors help us determine the best course of action for your personal injury claim, and, based on our experience, we may be able to estimate the value of your case once we gather your medical records, witness statements and other evidence. Typically, the severity of your injuries, your degree of fault, your employment history and ability to work, in addition to your life expectancy are all factors which can result in a higher than expected settlement/verdict.
Our personal injury lawyers can help you get compensation
When you’re in an accident, you’re often hurt, confused, and don’t know what to do. One of the best decisions you can make is to speak with a lawyer. Our firm has the experience, resources, and ability to help victims of all accidents. Our lawyers can help you win compensation from the responsible party. We have years of experience and ten’s of millions in verdicts and settlements. We have a history of handling tough cases and going to trial when needed. We handle all types of injury matters, regardless of how the accident happen. Above all, our lawyers have a track record of winning. We have a long history of getting compensation for our clients. We have investigators and evidence experts who can help us reconstruct the scene of the accident in order to prove you’re not at fault, whether it be to the opposing insurance company, the judge, or jury. We’re 100% committed to our clients. From the minute you call our office, you speak to one of our trial attorneys who want to meet you and who learn more about your case. Our lawyers can meet you at any hour of day at any of our offices.
When most people become victims of car accidents, the first thing they think about is whether or not they need a lawyer. While it’s possible to get compensation without hiring a personal injury lawyer – it’s not a great idea. Many people mistakenly believe they can’t afford a lawyer. Most personal injury attorneys work on a contingency fee basis. That means they don’t collect any money upfront. They only get paid if they are able to get compensation on behalf of the victim. In exchange for this, the lawyer takes a % of the final proceeds as payment.
Often, we find people who try to negotiate directly with an insurance company get paid less than those with representation. The thing to remember is that insurance companies make money by making the lowest payout possible. Many victims often sustain lifelong injuries. Some victims incur serious damages, like spine problems, joint damage, and even brain damage. Some have permanent disabilities and can never work. When this happens, the victim loses his/her income and has to live on measly disability checks.
In addition, with rising medical costs, it’s crucial you ensure that not only current expenses but future medical expenses will also be covered. It’s likely that if you work with a personal injury attorney, you’ll be able to secure a much higher final verdict/settlement.
Is A Personal Injury Settlement Taxed?
Personal injury litigation can take months or years before it concludes. After you pay the medical liens and legal fees, the plaintiff ends up with a lump sum, or a structured settlement. The next big question you probably have, is “will my settlement be taxed.” The answer is yes, and sometimes – no. It all depends on what the settlement money is for.
What part isn’t taxed
Any settlement paid as compensation for a physical injury or illness is not taxed. On-going medical costs, past & future lost wages, and compensation for mental anguish can be included in the untaxed component of your settlement as long as it was the result of a physical condition.
What part is taxed?
It’s always good to speak to a personal injury law firm to get the answer since each case is different. If a settlement is capital compensation for the effect of a mental condition and is not related to a physical injury, then it will be taxed. In large mass tort cases, the time between filing and the final verdict can be years. In cases like this, it’s common for the interest that’s accrued to be awarded to the plaintiff. The base compensation may not be taxed, but the interest on this settlement can be taxed.
If you have received proceeds from a settlement that may qualify to be taxed, then it’s important you realize that the funds will be taxed as capital gains – not income.