If you are due a personal injury settlement, you may begin to think about all the things you could do with the money besides paying your medical bills. Is that possible, or are you required to use the funds for those bills? The following will help you understand the process behind receiving compensation and what you can do with it.
How the Check Arrives
In most cases, the settlement check will be written out to you and your attorney. The reason for this is because there are certain payments that must be deducted from the check before you are given free access to it. The check will most likely be sent o your attorney’s office, at which time it will sit in an escrow account until it is cleared by the bank.
How the Money Is Distributed
After this time, the attorney will distribute funds as needed. Some places money could be sent include:
Using Your Portion of the Settlement
After all your costs have been paid by the attorney, you will receive a check for the remaining balance of the settlement. You are free to do whatever you wish with the funds you receive. If your condition does require future medical visits, it’s probably a good idea to put it into a bank account to save for when the bills start rolling in. There’s no law that says you have to do that though, but just remember to be smart with the money you receive.
Hiring an Attorney You Trust
As you can see, your medical malpractice lawyer in Phoenix, AZ will pay a large role in ensuring everyone gets paid properly from your settlement. Contact an attorney you can trust to begin the settlement process today.
Thanks to Rispoli Law, PLLC for their insight into personal injury claims and paying medical bills.