Sunday, February 19, 2012

Tax Implications on Personal Injury Settlements

By Francisco Rodriguez


Tampa is a densely populated state and witnesses more than its fair share of Personal Injury lawsuits. An injury caused to a person due to carelessness of another person or individual, is known as a personal injury.

Furthermore, when you are representing yourself in a Rhode Island personal injury or slip and fall case, the insurance company knows that you do not know how to litigate a lawsuit. Therefore you don't have as much leverage with the insurance adjuster. Question: How do Rhode Island personal injury lawyers charge for personal injury /automobile/ car accident and slip and fall cases? Answer: Most lawyers In Rhode Island take personal injury, premises liability, dog bite cases, slip and fall and auto / car accidents on a contingent fee basis. Article by David slepkow (401-437-1100) This means that the lawyers do not collect any fees unless they are successful in settling your personal injury case or winning a verdict at trial. The lawyer typically will take the case costs from the settlement or verdict at the end of the case. Most attorneys advance case costs.

Question: If I hire a Rhode Island personal injury attorney, how does the process work? Answer: You should retain a RI personal injury lawyer as soon as possible after the automobile or other accident. At the first meeting, the attorney typically will get all the important information concerning the accident including, but not limited to, the names of the witnesses, all injuries and the treating physician and doctors. The attorney may want to visit the actual scene of the accident or slip and fall so that he can get further prospective on how the accident occurred. If the case is a slip and fall case, the lawyer should visit the scene of the accident if possible and interview potential witnesses. If you have any pictures of the accident scene, your damaged automobile, or of the resulting injuries, it is usually a good idea to show those to the lawyer.

Tampa personal injury attorneys concentrate on cases where injuries have occurred due to an automobile accident, a slip and fall incident, a dog bite or mental anguish. Negligence is a common ground under which victims may file for compensation. Individuals may also claim compensation for loss of social standing in society or loss of friendship, support and finance caused due to abuse by another person.

There are personal injury attorneys in Tampa that deal exclusively with personal injuries occurring as a consequence of car accidents. In case of wrongful death, Tampa personal injury laws lend a hand to family members and relatives to file for compensation for their losses that may be damage to the automobile, bodily harm or death.

After the lawyer meets with you, he will typically send a letter of representation to all the insurance companies involved giving them general information about the case. The insurance company will open up a personal injury case file and respond to your attorney. Insurance companies are required by law to investigate the facts and look into the potential personal injury cause of action. When the attorney is comfortable that the right time has arrived, he or she will typically send a settlement package to the insurance company. This settlement letter usually includes an evaluation of the permanency of the injury, if any, and describes the pain and suffering of the client as well as any lost wages and medical bills incurred. The attorney typically includes in the settlement package an initial demand for settlement of the case.

Occasionally damage to assets is also compensated under personal injury. Consequences of personal injury, such as lack of ability to walk properly or to indulge in sports are also considered. Victims may also demand compensation for the pain and suffering experienced.




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