If you have a client with a personal injury case, there are many factors to consider before a settlement offer is accepted. Your client may need their settlement distributed through annuities instead of a lump sum. Setting up a personal injury annuity can involve several rounds of negotiation and complicated planning for the client’s needs. Without a settlement planner, this process can be extremely time consuming for attorneys.
Waiting for the right settlement offer is often vital to your client’s future quality of life, but it can be difficult because an offer might look like a better deal on the surface than it really is. Gathering materials for negotiation can start as early as your client’s injury. Any medical services accessed by the client need to be documented, including the post-accident treatment, diagnosis, and long-term treatment plan, to support the amount of the settlement. Some other factors a settlement consultant will consider when negotiating the settlement are your client’s pain and suffering, amount of lost income, and possible early retirement due to their injuries.
Most negotiation skills can only be learned through trial and error, which can put initial settlement clients at a disadvantage. Working with a settlement planner can help you get the best results for your client. With a very specific set of skills, a settlement planner can help identify a good or bad offer and the actions needed to solicit a better offer. They can also help navigate annuities, providing tax-free income for your client.
Careful planning is necessary to protect your client’s future. Working with a settlement planner can save you time and prevent unintended effects on a client’s government aid services. Services a client depends on like Medicaid and Social Security Income can be terminated upon receipt of a settlement payment as low as $2000. In some settlement cases, Medicare may require reimbursement.
Settlement planners can assist attorneys in securing the right personal injury annuity for their clients. The planner can take care of arrangement and save valuable time for the attorney while relieving him or her from the potential liability that comes with planning a client’s financial future.
Partnering with a settlement planner can take pressure off of the attorney who is already burdened with the details of the case and, most likely, an additional caseload. Settlement planners, like those at Synergy Settlement Services, are experienced in calculating the future financial needs of plaintiffs in personal injury cases.
For more information or to schedule a consultation, please submit our contact request form or call (877) 242-0022.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.