Rosenbaum & Rosenbaum, P.C. | January 3, 2016 | Truck Accidents
If you or a family member are ever injured in a truck accident, you will likely want to seek compensation to cover medical and other expenses. Your ultimate goal is to reach a settlement that generates an amount of recompense appropriate to your needs.
Settlement is available throughout the entire legal process. You may settle the instant someone hits you. You may settle right after you file the paperwork with the court. And you may settle the moment the jury leaves the courtroom to deliberate. In fact, settlements after a verdict is rendered are also sometimes permitted.
Settlements are generally more advantageous the earlier you accept one because it defrays some of the cost of litigation. However, if you are presented with a settlement offer, you may want to consult with an attorney to help illuminate the pros and cons of the offer.
If you agree to a settlement, there are usually a handful of standard provisions that will be included in every agreement:
Usually there will be a gag order that prevents you from discussing the matter publicly.
You will most likely have to agree to forego any future legal right to pursue the claim in connection to your injury / the accident.
The opposing party will probably also ask you to give up your right to a trial.
Finally, any settlement will often be less money than if you had won at trial.
If you do agree to settle your case there are two kinds of settlement options: lump sum and structured. A lump sum is just what it sounds like, a big check with your portion of the money. A structured settlement usually entails having the opposing party purchase an annuity at a fixed rate to pay out over a course of months or years. Which option you choose depends upon your financial situation.
If you or a loved one was offered to settle your truck accident case then you might want to speak to an attorney before you do. Settlements do often require that you sacrifice some of your legal rights for the benefit of avoiding the cost of a trial. It is usually safer to have an attorney review the offer before you sign anything.