The rules in this area are complex, and it is always best to talk to a qualified professional to make sure you do not make a mistake. When it comes to a personal injury settlement, we can help.
A settlement for a personal injury case, like a car or truck accident can be subject to government reimbursement. But there are exceptions. Some things to talk over with your attorney, regarding your settlement and whether you will have to pay money to the government on it, are:
- Whether you itemized any medical expenses on your tax return.
- What terms were included when the settlement was negotiated.
- What is the source of your financial recovery?
- What, if any, health insurance you are covered under?
- Whether a health care lien was filed against your claims.
- What the settlement payment covered; lost wages, damage or the cost to repair your car, medical costs, and other damages such as pain and suffering.
After you receive a financial recovery from an accident, you want to be sure you are doing what is right under the law. A mistake can lead to garnishment, penalties, and fines. The purpose of your personal injury settlement is to fully compensate you for all of your losses, so you want to make certain you get the full benefit of the award. Before you agree to a settlement we go over the terms with you so you are clear about what type of agreement you are entering, we answer all of your questions about what the settlement funds are intended to cover, and your obligations to the government. Our goal is to reach a satisfactory result that meets your needs, and provides a full and fair reimbursement for your damages.
For help, call the attorneys at Yetnikoff Law Offices, PLLC today. We can be reached at 800-279-6331 or you may visit us online for more information.