A Workers Compensation claim is naturally difficult and complicated, but further complicating the matter is trying to decide when to settle your worker’s compensation claim. This determination is not an easy task and as such, it is important to consider all of the facts and information available in order to make an educated decision. Primarily, it is important to consult with your immediate family and doctor to figure out what your goals are for the settlement and any future medical expenses and treatments. You should also consult with an experienced Workers Compensation lawyer for advice on the matter.
There are a variety of things to consider before deciding to settle. First and foremost, it is vitally important to consider your family’s financial well-being and its ability to survive if you were to die. You should also consider your future earnings capacity and ability to obtain another job that would pay you close to or the same amount as your previous job. Finally, you should consider your age and how close you are to retirement and Medicare.
With any Workers Compensation claim, you should determine how much money it would take to put you in the same position you were in before the accident. This could be any amount of money depending on the severity of your injury. If you have been severely hurt or permanently disabled, you shouldn’t settle your case until you are offered enough money to be able to comfortably recuperate or live the rest of your life in dignity. If your injury was not that severe, the settlement should be enough money to allow you to live until you are either able to go back to your original job or find a new one.
You should also never feel forced to settle simply because the insurance adjuster or company would like to resolve your claim. This is especially true if a doctor has just released you, since you are still unsure of how the injury will affect you in the long-term. It would be foolish to settle for a lump sum if you are unsure of how you will feel in the future due to the injury.
If you are unsure about your case or whether you should settle, do not hesitate to Contact Us at Minick Law and set up a free consultation with one of our experienced Worker’s Compensation attorneys.
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James Minick is a criminal defense attorney in Asheville, NC and is the owner of Minick Law, P.C.