How to Estimate the Value of Your Personal Injury Settlement

How to Estimate the Value of Your Personal Injury Settlement by Natalie Aranda

In most cases where you are a victim of a personal injury that is the fault of another, you are going to receive a settlement offer prior to going to court. There is a good reason for this. If you are a resident of Massachusetts, there are going to be a long list of Boston personal injury attorneys more than happy to see your case go to court. It is also going to be that same Boston personal injury attorney who will gain the most from a protected court case. The attorney fees will take a serious amount of the ultimate settlement.
However, just because you are able to avoid going to court and have been offered a settlement does not mean you have no need for a Boston personal injury lawyer. Boston personal injury lawyers are also going to be of great assistance in the important task of estimating the value of your settlement. This is something that you are not really wise to attempt to do by yourself. It is very much like filling out a rather complicated tax form. The tax specialist will be aware of all of those little known deductions that reduce your tax liability. Personal injury settlements are the same. There is a record of prior settlements that can be studied as guidelines, and only an expert will be able to insure that you are getting everything that you deserve.
Like the little known tax deductions, there are often things that a normal person might fail to take into consideration when estimating his needs over the life of the settlement. These might include such things as the cost of additional medical treatments or special nursing arrangements. Other factors that are often overlooked include replacement of lost income and the need for retirement planning. The tax liabilities of the settlement proceeds are also important. It is necessary to insure that the settlement provides for all of these things completely. One pitfall of life settlements that is often overlooked is what happens should you die shortly after the settlement. Does the settlement payments cease in this case? How will payments to your estate or beneficiaries be handled?
These are questions that an attorney your attorney can answer. There is a great danger in personal injury cases that the amount of money offered in the first attempt at settlement might appear to be very tempting. It is often more money than you have ever had at one time, and the first impulse is to grab it. It is important to remember that you have your whole life to consider, and possible a family that depends on you despite your injury. Hire and attorney and make the right decision.
About the Author
Natalie Aranda writes about laws and family.