Hello and thank you for allowing me the opportunity to assist you.
Q: What other fees besides my attorney's 33% if there are any, should I expect to be taken out of the settlement money. Are there hidden charges from my attorney?Or maybe something in the contract with the attorney I signed and overlooked?
A: You will also have to pay any costs that the attorney incurred. For example, if you had an expert witness prepare a statement, then that expert will need to be paid. You would have to cover that cost. Or if the attorney had to send documents somewhere via FedEx, then you will have to pay for that. In other words, the 33% is literally just the attorney's fees and does not generally cover any other expenses associated with the litigation
. People sometimes overlook that, but it's no different than being charged for the doctor's fees, and also being separately charged for lab work or x-rays. In addition, it's also possible that you incurred medical bills as a result of the accident. If so, and if those bills have not yet been paid, then it's possible that your attorney will have to pay those unpaid bills from the settlement before giving you the remainder.
Q: My attorney told me there is a law not allowing me to take out my cut without using a structured annuity. is this true ? And Is this the best option?
A: No, that is not the law. You can agree on a structured settlement, or you can refuse and demand a lump sum. It is up to the parties. You do not have to agree to it (and if the law required it, then why is he asking for your agreement?). As for whether you should take it, that depends. Generally speaking, if you demand a lump sum, then you'll probably be offered less. The reason, of course, is that a dollar is worth more now than it will be in the future. So, it's likely a question of whether you'd like a steady stream of income or a lump sum now. I will point out that structured settlements get tax benefits, but you'll need to speak to a CPA about that, and you'll need to know that amount that you will get of course.
Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied. Also, your positive feedback is much appreciated.
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