QuestionSeveral issues, but most urgent is this:
1. I'm about to receive a settlement from a car accident that occurred June 2010. I was rear-ended while on the job. The settlement, before the lawyer's fees, is $50,000. What do I do with the check--deposit it in my account? When can I access the money? What do I do about the IRS? Do they get a cut of my pain/suffering? What else do I need to know about? Could I just cash the check and use cash to start paying people back money I borrowed? I was told that's not allowed and the FBI would come knocking on my door.
2. What if I sign for the settlement check and I find out later I need more surgery? I had 2 vertibrae and disks replaced, missed many months of work and am behind on my bills, not including medical. I won't finish healing for at least a year and am on light duty, losing the overtime pay I was used to.
3. Worker's comp denied my claim caz I have a home office. What do I do to pursue wrongful denial? I live in Texas and am a regular paid employee--not contract. I was on duty driving from one job to FedEX before heading to my home office to do paperwork. On top of that, I was and on call 24/7 during that time. I've brought this up to my attorney but he hasn't acted like he can do anything.
Thank you for any insight you can provide. --James
Answer Hello James,
First on the workers comp claim. Based on what you've told me, that does not seem right at all. If your attorney is a personal injury attorney, he is probably not familiar with workers comp. You need to speak to an attorney who is skilled in workers comp.
As for your other questions. #1, you are asking me tax and accounting questions. I cannot answer those. The FBI? Come on ...
#2 You might need more surgery? Then why on earth are you settling!!?? To whose advantage is it for you to accept what appears to be a premature settlement? You apparently have not reached what is called MMI, or maximum medical improvement. This is, in my opinion, a very serious issue and you need to discuss it at length with your attorney before you accept a settlement. Your attorney needs to explain to you why he is negotiating a settlement before you are at MMI. Is it because $50,000 is the limit of the policy? Then, under those circumstances, OK, he has done everything he can for you. You cannot receive anything more than the limits of the policy.
If you have questions about settlements per se, I suggest you go to my website,
http://SolutionsForYourInsuranceClaim.com I have a number of articles there that will help you to understand claim settlements. But above all else, this needs to be discussed with your attorney.
I wish you well.
Jane Pytel
http://SolutionsForYourInsuranceClaim.com
http://FloridaAutoInsuranceCentral.com
