Maybe it has been weeks or months of court battles against your insurance company and now you have won. What is supposed to happen now that the case fell on your side? The money release is not as simple as going to an ATM machine and withdrawing money and there certain procedures which will be followed. But the fact will remain that the money you were fighting for is compensated appropriately and what you just need to do is follow the remaining legal steps and
voila. It will not wipe away the accident trauma but at least it will help you recover your financial losses.
Steps to follow after an agreement is reached
The first thing is that your accident attorney will report the agreement to the jury after which the next instruction fall on filling paperwork. This process of paper work will take between 30 and 60 days depending on the legal process.
After working with your lawyer on the paperwork you will then talk to the lawyer about the check release document. Your attorney will then works hand in hand with the insurance lawyer(s) and determine the terms of the release document.
A notary visit will then be in order and this is where the release signing will happen and the signed document then returns to your lawyer who then sits down again with the insurance attorneys and process it.
This is where you are now required to pay any pending court order payments you may have. These payments involve child support payment or any other claims and they will have to be cleared before the next step can be followed. Don’t worry though because your lawyer will guide you through the whole process.
The money you claimed is then paid to you through your lawyer. It goes like this to make sure the attorney get his cut of the percentage promised. He/she will send an invoice of your agreement and you have a choice of accepting or challenging the invoice. If there is a problem you can sit down with your lawyer and solve the agreement. If you feel that the cut is fair then you can just wait for your attorney to deliver the check to you.
You will then calculate how much you are supposed to be taxed and pay. One thing to note though is that the money which will be paid due to your physical injuries is not subject to taxation.
It has been a while since the case started and now you have won. It will be worth to just be patient for a few more days and get the compensation for both emotional and physical damages which may have happened to you due to the accident which you were involved in.