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Settlement Legal Definition

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Settlement legal definition: In a legal context, a settlement is defined as a resolution reached among parties to a legal dispute. Settlements are reached either before or after court proceedings begin. It should be noted that structured settlements are those that provide for periodic payments as opposed to a lump-sum payment. The function of a settlement is to allow both parties in a legal dispute to come to a resolution without going to trial.

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Settlements and Personal Injury Cases

If you were injured in a car accident and are pursuing legal action, you may be offered a settlement. When determining if you should accept a settlement, you should consider what damages you suffered, and are expected to suffer in the future. This includes:

  • Lost wages
  • Medical bills
  • Diminished earning capacity
  • Future surgeries and medical needs
  • Property damage
  • Emotional distress

Please, don’t accept a settlement in your car accident injury case without first consulting with a skilled personal injury attorney. Insurance companies keep their bottom lines fat by making sure their settlement are lean. Call Pribanic & Pribanic today to ensure you’re not accepting less than what your claim is worth.

 

Settlements and Workers’ Compensation Cases

If you’ve been on workers’ compensation for four months or longer, you may be eligible for a lump-sum settlement through your employer’s insurance company.

Lump-sum workers’ comp settlements:

  • Are one-time payments
  • Are final
  • Replace your weekly workers’ comp check, medical benefits, or both in some instances
  • Is mandated not to be greater than your weekly workers’ comp payment multiplied by 500 weeks

If you’re on workers’ comp and you’re considering accepting a settlement, it’s important to seek the counsel of an experienced injury attorney. When you call Pribanic & Pribanic, our law firm will help determine what a fair settlement would be, and work to get it for you.

 

Sources:

https://en.wikipedia.org/wiki/Settlement_(litigation) 

https://www.alllaw.com/articles/nolo/personal-injury/calculator.html


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“If someone has a serious case, they will get a great effort and a great outcome working with us,” award-winning attorney Victor Pribanic of Pribanic & Pribanic told Best Lawyers Magazine.

If you’ve been injured call or contact us online for immediate assistance: 800-392-4529

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