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Our attorneys have been assisting the Orange County and Southern California communities for over 40 years.
If you or somebody you love has been injured due to the careless or negligent actions of another individual, business, or entity in California, you may be entitled to various types of compensation through a personal injury settlement. If your case has been successful and the insurance carrier has agreed to pay a settlement, you may be wondering how you will receive the money. First, if you are working with an attorney, this process will be handled by them. They will explain to you the various ways that you can receive the personal injury settlement payout. However, regardless of whether or not you are working with an attorney, we want to briefly discuss the various ways that personal injury settlements are paid.
After a personal injury settlement has finally been made, it is not as if the injury victim will be getting the entire amount right away. In fact, there are various other parties involved in the case who will have to receive money.
In general, the settlement check will not come with a categorized list that shows where the money is supposed to go. However, there will be other parties that need to be paid. If an injury victim is working with an attorney, then the attorney will be the one to receive the settlement check. The attorney will be responsible for dispersing the funds where they are supposed to go.
The remaining settlement amount for the injury victim could be paid in a lump sum, or it could be paid out in a structured settlement, which typically means that a little bit of the settlement will be disbursed each month.
It is imperative to point out that a personal injury settlement should not be agreed on until after the injury victim reaches maximum medical improvement. This is the point where a doctor has determined that no further medical care will improve the victim’s condition. After a settlement amount has been agreed on and signed by all parties, there will be no way for the injury victim to go back later on and recover any additional compensation, even if they discover other injuries or if they need ongoing medical care.