accident lawyer in Duluth, MN,In a car accident settlement, opposing sides agree that one party will pay for the other party’s losses. Some settlements come with a trial when evidence proves either party’s responsibility. A settlement can shorten the process and save both sides in terms of legal fees and other costs. In some instances the parties settle out of court before a trial begins, making litigation unnecessary.
Is a Settlement Required?
The courts do not require parties to arrive at a settlement. However, it is encouraged, as it saves the court’s valuable resources and time. Auto accident settlements are not an option for everyone, especially if parties cannot come to an agreement. If this is the case, the sides must go through litigation and wait for the court’s decision.
Different Types of Auto Accident Settlements
All settlements are essentially the same, but they differ in terms of payout. In a lump sum settlement, the plaintiff receives the entire amount at once. A lump sum may be convenient for some, but it carries serious tax ramifications. The structured settlement is another option where payments are made regularly. The plaintiff cannot collect the entire amount at one time, even if they need it; however, selling the settlement may be an option.
A Settlement Eliminates the Stress of a Trial
Although most personal injury trials only last a few days, the process may be pretty stressful for all involved. Both sides are subject to cross-examination by an accident lawyer in Duluth, MN,, and each party’s character may be questioned. Additionally, the time before a trial can be laborious for parties and their attorneys. With a pre-trial settlement an agreement is reached, the defendant pays damages, and the case is finished.
Should a Victim Hire an Attorney for Accident Help?
Whether it happens out of or inside the courtroom, settlements typically require a lawyer’s help. If a person is involved in an auto accident, they should hire an attorney for legal help. The lawyer can offer guidance and courtroom representation, and they can help negotiate for a fair settlement amount. When they contact us to speak to an accident lawyer in Duluth, MN, clients can protect their rights and get the settlement they deserve.
