Los Angeles personal injury settlements

Small personal injury claims in Los Angeles can take up to six months to reach a conclusion. When it comes to serious injuries, the time required for resolution is likely to be two years or more. The cost of litigation for the insurance company is much higher than for the plaintiff (the victim who files the claim).

In most personal injury cases, the insurance adjuster makes an initial offer and tries to reach a settlement quickly. If that effort fails, the company begins to negotiate. It is an art, but it takes a long time. If an experienced attorney comes forward on behalf of the victim, you are sure to get a good settlement, as long as all the details provided are correct. You can get the services of insurance company adjusters who became settlement consultants. They know all the strings. Online tools and software are also available to assist the plaintiff.

From time to time the attorney will keep the client informed about the progress of the negotiations, as well as his recommendation when the final offer is received from the insurance company. It is up to the customer to accept or reject. The details of the proposal should be studied and doubts clarified with the lawyer. If an agreement is accepted, the insurance company may be instructed to pay the attorney and medical bills directly. Sometimes the attorney may accept the offer without referring to the client. This is incorrect and the customer could protest. Typically, the insurance company issues the settlement check jointly in favor of the client and the attorney.

There is a system known as “structured settlement” which is gaining popularity. Here, the settlement money is paid over a period of time. It offers many initial options and the money is held in funds that allow it to grow. The recipient must ensure that the fund is protected. Once the structured settlement plan is accepted, it may not be possible to change the terms.

Settlement payments are tax free. But if that money is invested, the income from it could be taxable. Structured settlements offer better tax benefits. This is a matter that should be discussed with a tax advisor.

If a minor is involved in a settlement, there could be complications. Court approval may be required.