Cincinnati Personal Injury Lawyers

Injury Lawyers For Cincinnati Ohio & Surrounding Communities

Cincinnati Personal Injury Lawyers

There are many facets to a personal injury claim which determine how it is handled and the value of the personal injury settlement. No standard awards exist for personal injury cases, and each claim is evaluated individually. The law firm of O’Connor, Acciani & Levy specializes in personal injury law and can assist you in working through your claim.

Sustained injuries can be permanent or temporary, affecting settlement awards. Economic losses due to inability to work and accumulating healthcare bills are considered as well as recovery time when determining the value of a personal injury settlement.

Some damages are difficult to place a value on, such as pain and suffering, loss of companionship, and despair. The personal injury attorneys at O’Connor, Acciani & Levy have years of experience evaluating these damages and defending cases of personal injury, and can help you obtain a fair settlement.

Compiling a complete list of all personal injury damages before submitting your claim is important. You will not be able to collect compensation later for injuries that are omitted in the initial claim.

For more information on different types of personal injury and the different personal injury cases O'Connor, Acciani, & Levy specializes in, visit our practice areas page.

Collecting Settlement

Following judgment, you must collect the award for your personal injury case. If the responsible party has insurance, you or your attorney can submit the verdict for your personal injury claim and request payment directly from the insurance company.

An uninsured person is difficult to collect from. In these cases, you must request the court to enter judgment, and collection is up to you. Attorneys specializing in collecting settlements are available for hire. If you are unfamiliar with collections of this nature, consult with one of our personal injury experts first at O’Connor, Acciani & Levy.

Personal injury settlements are usually made payable to you and your attorney. You have the right to request a copy of the settlement check from your personal injury lawyer, including an itemization of payments and fees. It is a good idea to obtain this record of payment. If your name is on the check, you will also need to endorse it before your attorney deposits the insurance check in a trust account.

Attorney’s Fees

Many personal injury attorneys are paid on a contingency basis, which means that their charges are a percentage of the settlement that you receive. This arrangement is between you and your attorney, negotiated before you begin working together. Deciding factors in your attorney’s fees are:
· Nature of the case
· Length of time that litigation and settlement continue
· Charges to the law firm
· Your attorney’s reputation
· Experience and skill of the attorney

Each state sets a maximum fee for personal injury cases handled by trial or arbitration. Typically, attorneys set a contingency fee at 40% of the judgment. You may negotiate the fee with your attorney, or hire a less expensive lawyer. Keep in mind that 40% of a large settlement may be more valuable than 30% of a smaller award.

Personal injury lawyers may be paid for their services based either on the gross settlement amount, or on the balance after you have paid major medical expenses. This arrangement is usually spelled out in the contract, so review this with care before you agree to the terms.

Other items in the attorney’s contract may include your permission for them to agree to terms without your consent. If you disagree with the settlement terms, you can request that your attorney renegotiate the settlement. If payment has already been received by your lawyer, you can direct him or her to return it until you approve of the personal injury settlement.

Access to Settlement Funds

Once a personal injury settlement is agreed upon and payment has been made, reimbursements can be paid to insurance companies that covered medical expenses for the injured person.

In cases where an underage minor is the injured party, settlement funds are placed in a trust account by the court. This account is protected until the child becomes 18 years of age. Parents are not allowed access to this account unless the funds are necessary for the care and well being of the child. Your personal injury attorney can advise you about expenses that are eligible for payment from these funds.

Personal injury settlements can be paid in one lump sum, or distributed over time as an annuity. In cases where the injured party is a minor, it is advisable to establish payment as a settlement annuity. This is actually the best way to invest the settlement award, as an annuity account earns interest over a long period of time.

It may be tempting to try and acquire the entire settlement from the annuity account, but this is usually not in your best interest. There are companies that buy a personal injury victim’s structured settlements, but they will only pay up to 50 % of the value of the annuity. If you chose this option, you also sell your right to future payments, resulting in a huge loss of potential income.

If you are involved in a personal injury case, contact our personal injury law firm O’Connor, Acciani & Levy in Cincinnati, Ohio for a free consultation and evaluation of your situation. You can reach a personal injury attorney at any time, seven days a week by calling 513-241-7111.