Watch as New York attorney Brett Zekowski explains what to expect after you have settled your personal injury case.
Let’s suppose you had a car accident and you were injured. You hired a lawyer and sued the other party, seeking compensation for your injuries. We all know that sometimes these cases take years. But in your case, this has all passed. Now, you have settled your case, and you are wondering what happens next.
There are several steps that need to be taken before you receive your check for the settlement. First, you need to complete, sign and have notarized a General Release. If your spouse has a claim too, he or she also needs to sign it.
This document explains in great detail the terms of your agreement: That the defendant agrees to pay you a designated amount of money for discontinuing your claim forever. Once you agree on the settlement and agree on the amount received from the other party, you do not have the right to open the case again for the same injury.
After this form is completed, your attorney has to make sure that any claim by a governmental entity that may have paid out in your case gets their money back. This is what is considered a lien.
Your lawyer is required to contact these different entities, such as Medicare or Medicaid, or ERISA health plans, and make sure that any liens are paid. He has to negotiate and compromise these liens before the money from the settlement is distributed.
The next step is to wait for the settlement draft that will be sent to your lawyer’s office. Typically, that takes 6 to 8 weeks, but if a municipality is involved in your case, like the City of New York or the Transit Authority, then it will commonly take 90 days.
When the check arrives, it will then be put into the attorney's escrow account, and you will be given a check from that account. Watch the video to learn more.
If you have additional questions about accident lawsuit, I want you to call me at (212) 267-6700. I welcome your call. Visit our website where you can view more videos and media content from our law firm.
Parker Waichman LLP 59 Maiden Lane 6th Floor New York, NY 10038 (212) 267-6700 https://www.yourlawyer.com/new-york/
