Once an injury attorney has decided to take up your case, money issues may become an integral part of your discussion. This is important because, for many people, accident cases are all about the potential monetary recovery. Here are some of the money-related issues you shouldn't fail to discuss with your lawyer:
Value of Your Case
This is an essential discussion that can determine whether or not you proceed to accept an out-of-court settlement offer. For example, if the final settlement offer is $70,000 and your lawyer thinks your case is worth at least $80,000, you should consider taking the offer. This is because the additional (and not guaranteed) $10,000 might not be worth going to court. However, if the lawyer thinks the case is worth at least thrice as much as the insurer is offering, going to court may be wise.
Here are some of the factors that influence the value of an accident case:
These are some of the issues your lawyer will discuss with you when determining the value of your case.
The Minimum Settlement You Will Accept
Although your lawyer will represent you during the settlement negotiations, it's your prerogative to accept or deny an offer. Thus, you should tell your lawyer the minimum offer you can accept so that they can have it on the back of their minds when negotiating. Don't forget that there are cases where it might make sense to accept an offer lower than the value of your case.
Accepting a low offer might make sense, for example, if:
The Cost of the Lawsuit
This is another essential conversation that influences how much money you get from the settlement. The cost of the lawsuit includes the lawyer's fees (this typically ranges from 33% to 40%), court fees, expert testimony charges, and miscellaneous expenses (such as transport). Agree on these costs beforehand, preferably in writing, to avoid disagreements later.
Hopefully, these discussions will shade more light on the money issues of your accident case. Don't forget that your lawyer is there to advise you, but the final decisions should always come from you.
Share15 July 2016
Hi, my name is Sally. I was living a pretty average, uneventful life until I had an accident. At that point, my life become more stressful and painful than I could have ever imagined. Sadly, my accident happened on private property, and it could have been prevented if the owner of the property had kept up with his shoveling. For months, I missed work, suffered through constant pain and become more and more depressed. Finally, a friend referred me to an accident and injury lawyer, and she showed me how to get the compensation that I deserved. I don't want to see anyone else suffer like I did, and because of that, I decided to create this blog. Here, I hope anyone who has been injured can find the information they need to get fully compensated and regain their lives. Enjoy your reading and thanks for stopping by!
