Any way that you look at them, wrongful death claims are complicated and emotional. If you’ve lost a loved one to someone else’s negligence, it is an exceptionally painful experience, and you may not have any idea how best to proceed. Better understanding how wrongful death settlements are paid out can help you in the process of moving forward toward healing. An experienced Wisconsin wrongful death attorney can help you throughout this complicated process.
The Settlement Process
Once your wrongful death claim has been settled, payment will either come from the at-fault party’s insurance provider or the at-fault party himself or herself. Ultimately, your settlement will pay out in one of the two following ways:
- A lump-sum payment in which you receive the entire settlement amount at one time (which has the advantage of finalizing the matter once and for all and allowing you to take care of expensive pending costs)
- A structured settlement payout in which you will receive regularly scheduled payments
Turn to an Experienced Wisconsin Wrongful Death Attorney for the Help You Need
The accomplished Milwaukee wrongful death attorneys at Groth Law Firm, S.C. in Wisconsin have the experience, legal drive, and resources to help you obtain a settlement that is advantageously distributed to you. We’re here to help, so please don’t wait to contact or call us at (414) 409-0114 for more information today.
Will my settlement be taxed?
Your wrongful death settlement is compensatory, which means it is intended to compensate you, and therefore will not be taxed. If you receive punitive damages that are intended to punish the at-fault party, however, that amount will be taxed.
Can I move forward on my own without an attorney?
You are not required to have an attorney, but the surest way to obtain just compensation is with an experienced wrongful death attorney on your side.
What if one of the recipients is under the age of 18?
If one of the parties to the claim is not yet 18, their compensation must be set up as a trust that oversees the settlement funds until they turn 18.