Should You Accept A Personal Injury Settlement?
One of the toughest things to handle during a personal injury case is to figure out whether a settlement is good enough. Your personal injury lawyer will look at several factors before telling you whether they think an offer is right for you so let's take a look at what those are.
Covering Long-Term Medical Expenses
Among the biggest challenges you'll face in this situation is making sure you'll get enough money to provide sufficient long-term care if necessary. Under most circumstances in personal injury law, a case that is settled can never be reviewed again unless there is a major issue, such as fraud.
This means you want to take a close look at potential long-term medical expenses. Such expenses include things like in-home nursing care, physical therapy, medicine, and medical devices. It's a good idea to talk with your doctors about how your condition will age so you can understand what needs to be included.
Paying Existing Medical Bills
One of the more straightforward issues to address during this process is paying off your current medical bills that arose from the incident. It's important, however, to be beyond thorough in itemizing these expenses. Collect every bill you've received. Also, ask everyone who has provided medical services during your recovery efforts to supply an itemized bill. Don't be afraid to make comparisons to ensure there aren't missing items or inconsistencies.
The Size of the Offer
Yes, it can feel a little crass to think about this part of the equation. The reality, though, is that not all of the money you'll be awarded will go straight to you. Your personal injury lawyer will take their percentage fee and any expenses they incurred. Similarly, medical service providers may impose liens against settlements. In limited cases, there may be taxes, too.
It's also important to make a rough comparison of the settlement offer to ones that others have received in similar cases. You can do a bit of research on the internet, but you should also rely on the experience of your personal injury lawyer. They can help you make an apples-to-apples comparison.
There is always a question of how long a plaintiff wants to keep fighting. Although most medical organizations will defer bills if a patient asks, utility companies, tax bureaus, banks, and landlords may not be so charitable. Eventually, you and your attorney will have to make a judgment call regarding when the time has come to settle.
To ensure your personal injury case is in good hands, contact a personal injury lawyer today.