If you are involved in a personal injury lawsuit, you may be offered a settlement from the other person's insurance company at some point. This is an effort to try to give you one final payment to completely settle the case, but a settlement may seem better than it actually is. Here are some things to consider before you sign the settlement and make it official.
Settlements May Not Account For Future Complications
When dealing with a personal injury, you never know what kind of complications will happen in the future. That's why you must consider the potential unforeseen costs you'll have to deal with when it comes to an injury.
For instance, if you break your leg, you will have immediate medical bills for the injury. These are bills that you probably already received, plus some known follow up appointments with your doctor. It's very easy to calculate what you will pay for the hospital bill, lost wages, and even physical therapy to recover, and your settlement may stop at only covering those expenses.
What you may not be considering is what will happen if your leg does not properly heal. Your leg could potentially be weak for your entire life, causing you problems you did not foresee happening. You could have difficulty running or being able to exercise, experience pain when on your feet for a long time, and even have an increased risk of bone splints. You could still feel the impact of the injury many years after it occurred, and well beyond the point when you thought you would be fully recovered.
If you take a settlement without considering these complications, you'll never be able to receive financial compensation for them down the road.
Negotiate A Settlement That Includes Job Training
You may be able to go back to work immediately, but will your injury prevent you from having your job in the future? A nagging injury could cause you to abandon a career if it is too physical for you when an injury hasn't fully recovered.
Work with a lawyer to add compensation for job training in your settlement. Even if you do not need it right away, it would help to have the money there if you need to switch jobs due to your injury. It will give you peace of mind that you can always do something else in the future if you need to, since you will have the money to get the training you need.
For more advice about what to look for in a settlement, speak with your lawyer.Share
17 January 2017
While I took a few business classes in college, I left early to start my own business. I thought I had the knowledge I needed to become a great business owner and was eager to start my business. Soon, I had a new business that was actually performing pretty well in sales. Unfortunately, I hadn't taken any law courses in college, and I soon realized I made a few mistakes when starting my business that could cause me some legal trouble. Thankfully, a great business lawyer helped me correct my mistakes before I had any legal problems, but I then decided to take those business law courses. I want to help business owners and anyone else who would like to learn more about the law by starting a blog where I will share what I have learned and will continue to learn. I hope I can help you!