Posted on Wednesday, April 3rd, 2024 at 1:09 am
If you’ve been hurt in an accident in Utah that wasn’t your fault, you might be considering filing a personal injury claim. You’ve probably got many questions, like how much money you could get and how long it will take. However, knowing how are personal injury settlements paid out is one of the most important things to understand.
At London Harker Injury Law, our experienced personal injury attorneys helped many people in Utah get the settlements they deserve after an accident. We know the process can be confusing, mainly if you’ve never dealt with a personal injury claim.
Receiving Settlements for Injury Cases
The first thing to know is that most personal injury cases in Utah ended with a settlement, not a trial. Studies show that over 90% of personal injury claims are settled before court. A settlement is when both sides agree on an amount of money to be paid to the injured person to compensate for their losses.
How are personal injury settlements paid out? There are a few different ways that a settlement can be paid out:
- Lump sum payment: You get all the money from your settlement in one big payment. This can be helpful if you have a lot of bills to pay right away, like medical expenses or repairs to your car.
- Structured settlement: This is when the money from your settlement is paid out to you over time in smaller amounts. This can be a good option if you want to make sure you have money coming in for a while, especially if you cannot work because of your injuries.
- Combination of both: Sometimes, injury victims might get part of your settlement as a lump sum and part of it as a structured settlement. Your lawyer can help you figure out what’s best for your situation.
No matter how your settlement is paid out, it’s important to remember that the money is meant to help you get back on your feet after an accident. It can cover medical bills, lost wages, and pain and suffering.
Payout Process for Injury Settlements
So, what is the process for and how are personal injury settlements paid out? Here’s a step-by-step breakdown:
- Your lawyer and the other side (usually an insurance company) will negotiate to reach a settlement amount that works for everyone.
- Once a settlement offer is reached, your lawyer will write everything and have you sign off on it.
- The other side will then send a check to your lawyer for the settlement payment.
- Your lawyer will deposit the settlement check into a particular account called a trust account.
- Your lawyer will use the money in the trust account to pay any outstanding bills related to your case, like medical expenses or court fees.
- Your lawyer will also take out their fee from the settlement amount. In most cases, personal injury lawyers work on a contingency basis, which means they only get paid if you win your case.
- The rest of the money will be paid out to you as a lump sum or as a structured settlement, depending on what you and your lawyer have agreed to.
The process can take a while, sometimes several weeks or months. But your lawyer will update you on the progress and let you know as soon as the money is ready to be paid out.
Understanding Injury Compensation
When you’re considering filing a personal injury claim, it’s essential to understand what kind of compensation you can get. In Utah, you can typically get money for things like:
- Medical bills (past and future)
- Lost wages from missing work
- Property damage (like if your car was totaled in an accident)
- Pain and suffering
- Emotional distress
The amount of money you can get will depend on many factors, like how bad your injuries are, how much money you’ve lost because of the accident, and how strong your case is. Your lawyer can help you determine your case’s worth and how much you should ask for in a settlement.
It’s also important to remember that in Utah, laws sometimes limit how much money you can get. For example:
- According to Utah Code Section 78B-3-410, non-economics losses in medical malpractice cases are capped at $450,000.
- There are no compensatory damages in Utah.
- Under Utah Code 78B-8-201(3)(a), there is no cap on punitive damages, but the first $50,000 goes to the injured party, and any subsequent amounts are split equally between the state and the injured party.
Your lawyer can help you understand how these laws might affect your personal injury lawsuit. They can also help in understanding injury compensation computations and taxes that you can be confused about.
Let London Harker Injury Law Help You with Your Settlement
We know how overwhelming dealing with a personal injury case can be at London Harker Injury Law. You’re trying to recover from your injuries, deal with insurance companies, and figure out how you’re going to pay your bills. That’s why we’re here to help you to seek compensation that’s right for you.
Our experienced Sandy personal injury lawyers and Provo personal injury lawyers can handle every aspect of your case. From investigating your accident to negotiating with the other side to get you the best possible settlement, our legal team will fight to get you the money you need to move forward with your life. We’ll also help you understand your rights and options every step of the way.
If you’ve been hurt in a car accident in Utah, don’t try to handle things alone. Call London Harker Injury Law today at 77CARCRASH for a free consultation. We’ll listen to your story, answer your questions, and help you figure out what to do next. With us on your side, you can focus on improving while we handle legal matters. Don’t wait, call us today, and let us fight for you.
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