Workers’ Compensation Structured Settlements
You may be entitled to monthly time-loss benefits paid in a structured settlement. If you are at least 50 years old and have an accepted L&I claim that is at least 180 days old, the attorneys at Emery Reddy have vast experience in obtaining structured settlements for clients throughout Washington state. Your best chance to maximize your structured settlement is to create a winning strategy before the Department denies your structured settlement request.
What is a Structured Settlement?
A structured settlement is a type of pension paid out to qualified claims. Rather than paid in one lump sum however, a structured settlement is paid out in regular installments, usually monthly or bimonthly. This type of settlement is income-tax free.
How Much is a Structured Settlement Worth?
There exists a wide range in settlement amounts—you need a lawyer who understands the process, knows how to leverage your legal rights, and is able to litigate your claim as necessary to increase the overall settlement amount.
The Washington State Department of Labor & Industries says: “Consider seeking advice from legal counsel and/or a financial consultant before entering into a structured settlement.” If you think you may be eligible, call our structured settlement attorneys.
Do I Qualify For A Structured Settlement?
You may be eligible for a structured settlement if you are over the age of 50 and your workers comp claim has been open for 180 days or more that is paying time-loss benefits. Typically, injured workers who receive structured settlements aren’t able to participate in vocational rehabilitation (job retraining) or have a source of income from retirement or Social Security.
Do I Need an L&I Attorney for a Structured Settlement?
Whether or not you decide to hire Emery Reddy, please take the Department’s advice and consult with a lawyer, at minimum. It is critical that you fully understand the terms of the structured settlement agreement and the effect that it will have on your industrial insurance claims and future benefits, including social security and Medicare. You’ll need to know your rights to future medical benefits and how to enforce those rights. Settling without a complete understanding of these factors is a mistake we see occur too often, but one that can be avoided entirely with sound legal advice and representation from a talented team of workers’ compensation attorneys.
We have successfully obtained and negotiated structured settlements for many of our clients. While it can be a complex and time-intensive process, it’s a process we intimately understand. We find that having an experienced workers’ compensation attorney involved early on in the negotiation and settlement process is the key to increasing the total amount of these awards. Call us today for a free consultation.