Negotiating a settlement is a common event in personal injury law. There are, however, multiple facets to it that you should know about in order to make the best decision. This is why your best bet is to work with a trustworthy attorney during the settlement process. With years of experience, they could tell you all of the important things to know about truck accident settlements in Cicero and what your odds of success are.
There are many factors which go into the decision to settle a case. First, lawsuits can last an extended period of time. It might be best to settle a case rather than wait several years for it to go through the court process. Second, cases sometimes do not improve through the litigation process. The offer may be better than what the ultimate results would be in front of a jury that is unsympathetic. While the decision to settle a case is ultimately up to the plaintiff, a lawyer could provide advice as to whether or not to agree to a settlement.
It is important to know that there is no requirement in Cicero to settle a case and there are several reasons why someone might instead wish to take a truck accident claim to trial. A lawyer who has handled truck accident cases is in the best position to discuss the pros and cons of moving forward with a trial versus settling the case.
When a trucking company makes an offer of settlements, it is important to discuss the details with an experienced lawyer, who will be in the best position to advise the plaintiff on whether the settlement amount is fair, given the circumstances. Ultimately, the plaintiff must consent to any settlement, and a lawyer cannot settle a case on behalf of a plaintiff without their permission. While there are many factors which go into the determination of whether to settle a case, the amount of money which the person will ultimately receive is the biggest factor.
Some individuals are under the misconception that as soon as they settle their case, they will receive their check. Unfortunately, there is a period of time between acceptance of a settlement and actually receiving the proceeds. There are several steps in between which need to take place before someone can receive their settlement check.
In order to receive a settlement from a truck accident case in a timely manner, there are several things which the person can do. There are numerous documents which require their signature – any delay in signing the paperwork will extend the length of time it takes to send the check out. A personal injury lawyer could work hard to expedite the ultimate settlement of the case. An important thing to know about local truck accident settlements is that the lawyer does not get paid until the plaintiff receives their money. Due to this, most lawyers will take all reasonable steps to make sure the settlement process goes smoothly and quickly.
Some people are concerned about having to pay a tax on their damages award but, under the law, civil settlements are not subject to tax. In fact, settling a case is not even reported on the tax return. Another potential issue can arise if someone is the recipient of any public assistance such as Medicare or Medicaid. A settlement could impact one’s eligibility to continue to receive these programs. A knowledgeable lawyer could explain any impact accepting a settlement may have on public benefits.
While most truck accident cases involve settlements for a specific dollar amount, there are other cases which include other negotiated terms. For example, a trucking company may want a confidentiality clause in the settlement agreement, which prevents the person from talking publicly about the case or the settlement. Hammering out those details can delay the ultimate settlement of the case.
Settlements allow for a quick and stress-free way to secure your compensation without having to fight it out in court. Even still, there are some important things to know about truck accident settlements in Cicero before you decide to accept an offer. Let a lawyer guide you through it. Reach out today for a free consultation.