Rate This:What to Ask About Lawsuit Settlements
When you're in a position to receive a lawsuit settlement, you're really dealing with a double edged sword. On the one hand, you'll be getting the money you're entitled to due to an accident, illness or other injustice that you feel entitles you to compensation. On the other side of the coin, you might very well need to make sure any money you get will last and sustain you for the rest of your life. That's why you need to be sure to ask the right questions focusing around three areas before you sign the agreement. You need to have a good understanding of who will handle one of these settlements, how they work legally and how getting this money might affect your other finances and plans. Ask the following questions to get valuable information about lawsuit settlements.7 Active Questions | Add a QuestionThere are a few things it's good to know before you accept any kind of settlement including a structured one. For example you want to know if the annuity proposed has the highest chance for future benefits, especially if your life expectancy has been compromised by the accident or illness behind the legal action.You need to remember that trials cost-sometimes a lot of money. Attorneys and expert witnesses can deplete your money and that's to say nothing of the stress that you'll go through. A trial can even take a few years and these are all great reasons to at least consider a settlement.These are a form of settlement whereby the plaintiff receives a series of payments over a specific period of time. Usually, the defendant who agrees to this will make one larger payment and then a series of smaller ones afterward. There are some financial advantages here that include good tax advantages for the plaintiff.The simple answer here is that you'll need lawyer to represent you, but you'll need to be sure they are capable. You should expect to have a face to face meeting whereby you can ask about the particular lawyer's experience in the area of law you're involved with. Ask about their track record with other cases of a similar nature.In order to be successful, you need to satisfy a judge that a few elements are present including a very important aspect called duty. Like the name implies , as an example, this suggests that drivers on the road have a duty to everyone else to make sure they are driving in a reasonably safe manner. Other elements that need to be addressed include a breach of duty and of course damages.Having a good case is the number one priority for winning a lawsuit. Lawyers have a definite checklist of what this entails and one of the criteria is a broken contract between you and another party where something that was to be done like a home renovation was paid for and then neglected. Here you need to show that you held up your end of the bargain and there was a breach of contract by the people on the other side. You'll need to prove economic damages as well.The lawyer you finally choose should understand the bigger picture and be able to advise you to settle if that's the best route to take based on several factors like the degree a contract has been breached and the damages you are looking for.
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