Truck Accident Settlement Distributions
Once a truck accident case is settled, the injury victim receives compensation. Unfortunately, this process is far more complicated and time-consuming than the insurance company simply cutting a check.
Typically, a settlement check is made payable to both the attorney and client, and the insurance company sends it to the lawyer. Attorneys are required to follow strict ethical guidelines when representing clients, including rules regarding the disbursement of settlements.
The Disbursement Process
After a settlement check clears, the attorney is permitted to make distributions covering a number of factors.
Typically, the attorney needs to use some of the settlement money to repay outstanding debts, including:
- Unpaid bills from medical providers.
- Reimbursement of collision-related medical treatments paid for by the injury victim’s insurance company.
- Reimbursement of collision-related medical care paid for by Texas Medicaid.
- Unpaid child support payments to the Texas Child Support Division.
- Reimbursement of collision-related medical care paid for by Medicare.
Legal fees and expenses
Once any outstanding liens are settled, the attorney deducts any legal fees specified in the attorney-client contract. Expenses stemming from the case may also be deducted, such as:
- Expert witness fees.
- Deposition and court reporting costs.
- The cost of gathering medical evidence, such as medical records.
Once all of the liens, legal fees, and expenses are disbursed, the injury victim receives the remainder of the settlement funds.
If a truck accident victim was fatally injured in the collision, survivors may be entitled to receive wrongful death compensation. Should surviving family members accept a settlement offer, there will be no jury to determine the appropriate division of funds. Instead, the attorney must help grieving family members decide how these settlement proceeds should be divided. This can be accomplished by applying legal precedence from those cases requiring juries to divide awarded damages under similar circumstances.
You Need an Attorney
If you were injured or lost a loved one due to a truck accident, you need an experienced attorney who knows how to negotiate a favorable settlement with the insurance company. To learn more about what the law offices of Steve M. Lee, P.C., can do for you, visit us on Facebook.