Mass tort claims are cases that normally involve hundreds to even thousands of claimants. There are claimants who have minor injuries while other are faced with life threatening injuries or in worse cases death. If you are faced with a mass tort claim, below are a few guidelines that you need to consider before you accept any settlement.
It is important to know that if you accept any settlement before the proceedings, you limit your options. It is advisable to choose an attorney who knows the benefits of qualified settlement fund to stop the proceedings of settlement until you make informed decision on how to go about it. Remember you need to protect government benefits. Accepting a lump sum can affect your eligibility to get government benefits. Make sure your attorney has strategies in place to protect your benefits as well as protect the settlement proceeds
You also need to have a plan of preserving the settlement. One of the biggest problems claimants face is that they are overwhelmed with handling lump sum money. Most assume that taking the large sum is the best option. They don't take time to think how fast money can be spent leaving you with no funds to spend in the future. There are other better options such as the structures settlement you are sure to have long term income which will not be taxed as well as protection of your government benefits. You design your payments depending on your needs. There are also trusts where you need an experienced professional. The choice of trustee must have the beneficiary's best interest. click for more information.
Additionally, if you are making a mass tort claim, it is advisable that you consult a professional settlement planning firm before the case resolution case begins. You will get information about your clients and the other options that will cater best for your medical as well as financial needs. Make sure you file your case within the agreed time. There is a Statute of limitation which varies from state to state. However, usually the period is between one to six years. Mass tort claims are complex. It is important you choose an attorney who has experience in handling the same cases for you to have a good chance of winning. As an individual, you have to research well to have an idea of how the claims are made. This way when choosing a lawyer you can evaluate one who is reputable.
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