Settling on a Settlement: A Chicago Personal Injury Attorney Assesses The Offer
A majority of personal injury lawsuits end up never going to trial and instead are settled out of court with a specific monetary offer. But just because you have received a settlement offer, this does not mean that the case still does not merit a trial or that, if you do decide to settle, that you have to accept the first offer on the table.
If you live in Illinois, the advice of an experienced Chicago personal injury attorney will help you determine the best course of action if you are offered a settlement. Working together, you will be able to evaluate whether or not the offer is appropriate or if going to trial will be more advantageous for your case. It is likely that the attorney will ask these questions to help you make a sound decision about the offer:
How much has this injury cost you so far? Add up the medical expenses and lost wages that you have already incurred as a result of the injury – how does this stack up to the offer put forth? In a sound case, these basic costs should be included in a settlement offer.
How much will the injury cost you in the future? Financially speaking, determine how much the injury will cost you long-term. Then figure the emotional and social damage that the injury has caused or will continue to cause in your life. Although you may consider long term damage to be impossible to put a dollar value on – your Illinois personal injury lawyers can draw on experience to come up with a fair monetary amount.
What is the minimum amount you are willing to accept? Most people have an idea of what they expect financially as the result of a settlement. Keep in mind, however, that sometimes, the dollar amount perceived by the client as fair is unrealistic. Based on experience, your Illinois personal injury lawyers should be able to objectively counsel you as to whether or not your minimum figure for compensation is reasonable.
How much of the settlement amount will go to lawyers’ fees and expenses? Remember that your legal fees will be taken from the settlement. After these fees are paid, will you still have a fair amount of compensation for the extent of the injury? Be sure to consider these types of costs, as well as the taxes that will need to be paid. Your Illinois personal injury attorney will listen and advise you as you consider these questions, taking into account all the relevant information. If you decide that the offer is too low based on these parameters, it can be rejected, and may result in another, higher offer. If you and your attorney decide that justice will best be served through a jury, however, then a trial may be the next step.
If you have any questions about personal injury lawsuits, settlements or your rights after an injury in the state of Illinois, contact an experienced Chicago personal injury attorney today.
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