Personal Injury Settlement Explained: Timeline, Lawyer Fees & Closing Statements | NY Injury Lawyer скачать в хорошем качестве

Personal Injury Settlement Explained: Timeline, Lawyer Fees & Closing Statements | NY Injury Lawyer

If you have reached a personal injury settlement, you probably have questions: Do most cases settle? How long does it take for settlement money to arrive? Does the money go to the lawyer or the client? What is on a closing statement? I’m John DeGasperis, a personal injury lawyer in upstate New York, and in this video, I will walk you through everything you need to know about what happens after a settlement—from signing the release, to receiving your check, to understanding how costs, fees, and liens are handled. ⚖️ Do Most Personal Injury Cases Settle? Yes. A substantial majority of cases settle before trial. Most clients never set foot in a courthouse. Settlements save time, reduce stress, and allow injured victims to move forward more quickly. ⏱️ How Long Does It Take to Receive Settlement Money? The law says insurance companies must pay within 21 days after receiving a signed release. In reality, most cases take 30–60 days for funds to arrive. Complex cases with liens or high-dollar settlements can take several months. 💰 Who Gets the Settlement Money—The Lawyer or the Client? The insurance check is made payable to both the law firm and the client, ensuring protection for both sides. Funds are deposited into the law firm’s escrow account. Client portion: Paid directly to you after clearing. Attorney fees: Deducted at the agreed-upon contingency rate. Case costs/disbursements: Itemized separately for total transparency. Liens: Paid directly from escrow before final distribution. 📄 What Is a Closing Statement? A closing statement is a written summary of your case’s financials. It includes: Total settlement/verdict amount Attorney’s fee deduction Itemized costs and disbursements Client’s net recovery List of all liens and payments made This ensures complete transparency—you’ll know where every dollar went. 🧾 Are Personal Injury Settlements Taxable? Good news: Personal injury settlements are not taxable events under IRS rules. You don’t even need to report them in most cases. 💡 Examples of Case Costs & Disbursements Costs are separate from attorney’s fees. Common disbursements include: Medical record requests Court filing fees Expert witnesses & accident reconstruction Medical illustrations & animations Private investigators These expenses are necessary to build a strong case and are fully itemized in your closing statement. 📍 Winning for Clients Across New York Hudson Valley: Kingston • Poughkeepsie • Newburgh • Middletown • Peekskill Capital Region: Albany • Troy • Schenectady • Saratoga Springs NYC Metro: New York City (all boroughs) • Yonkers • White Plains • Mount Vernon • New Rochelle Central NY: Syracuse • Utica • Ithaca Western NY: Buffalo • Rochester • Niagara Falls Southern Tier: Binghamton • Elmira North Country: Watertown • Plattsburgh And more. 👨‍⚖️ About John DeGasperis, Esq. – New York Personal Injury Lawyer With years of experience representing injury victims, I fight to maximize recoveries and provide transparent, client-first representation. Whether your case involves a car accident, slip and fall, workplace injury, or catastrophic harm, I am here to guide you every step of the way. 📞 Free Consultation If you’ve been injured in New York due to someone else’s negligence, don’t wait. Call today for a free case evaluation: 📱 (845) 777-WINS (9467) #PersonalInjuryLawyer #SettlementExplained #PersonalInjurySettlement #NYInjuryLaw #AccidentAttorney #SettlementTimeline #PersonalInjuryCases #CarAccidentLawyer #SlipAndFallLawyer #WorkersCompensation #SettlementCheck #ClosingStatement #LawyerFeesExplained #InjuryLawyerNY #InsuranceSettlement