Big Bear Lake Personal Injury Lawyer

Big Bear Lake Personal Injury Attorney

Personal injuries can cause great distress to victims and their families. Injuries can range from minor cuts and bruises to severe brain or spinal cord damage. It’s important that victims understand their legal rights and options regarding their ability to pursue legal compensation against the responsible party. A Big Bear Lake personal injury lawyer can be a great resource for discussing potential legal options.

Payout Options for Personal Injury Settlements in Big Bear Lake

When receiving compensation for personal injury cases in Big Bear Lake, CA, there are two main options that clients can choose from.

1. Structured settlement. This method structures the settlement payments to be disbursed periodically over a certain amount of time. It is a good way to ensure guaranteed fixed income in the future. This may be a quality option for a risk-averse individual who doesn’t have a strong source of income. There could also be potential tax advantages to this method.
2. Lump-sum payment. In contrast to the structured settlement option, the lump-sum method pays the full settlement amount at once. For those who want immediate, ultimate control of their settlement money, this could be the right option. One of the potential risks that recipients face is spending it all, incurring more debt, or otherwise mishandling the settlement money.

Which Payout Option Is Right for You?

The payout option that fits you will depend on your financial needs at the time, your long-term plan, and the amount of settlement money available. For smaller settlements, the lump-sum option may be better, as it can immediately compensate you for your losses. It may not be worth the trouble to create an extensive payout structure for minimal amounts.

Conversely, for larger settlement payouts, it may be worthwhile to develop a structured payout strategy to help ensure that the money will last and avoid financial mismanagement.

Why Hiring A Personal Injury Attorney Is Important

Settling a personal injury settlement can be a complicated process. There are several key components to consider. Even once you’ve been awarded the settlement, further analysis is often required to determine the proper payout option. This can all be handled by a professional attorney who’s experienced in personal injury cases. You can’t be expected to know how to do this alone; lean on the help of experienced legal professionals who can look out for your interests.

With an attorney, you are more likely to avoid any legal mistakes or problems related to your case.

FAQs About Big Bear Lake, CA Personal Injury Laws

What Are Special Damages in a Personal Injury Case in California?

Special damages in a personal injury case in California are also known as economic damages. These are the monetary losses resulting directly from the injuries or damages sustained. They could include medical expenses, lost wages, property damages, and any other out-of-pocket expenses. These costs are often easy to calculate because they are clearly quantifiable. Special damages are one of three different categories of damages. The other two are general damages and punitive damages.

Can the IRS Take Money From a Personal Injury Settlement?

It is possible for the IRS to seize some of your settlement money under the necessary conditions. For example, if you owe the IRS taxes, it may take a small portion of your settlement money. It’s important to understand that the IRS generally won’t tax you on your settlement earnings because it is not true income to you; it is a reimbursement of expenses. You should speak with an experienced lawyer and a qualified CPA for more specific tax advice.

How Much Can You Receive for Pain and Suffering in California?

In California personal injury cases, there is no limit to the amount of compensation you could receive for pain and suffering damages. Pain and suffering damages are inclusive of the mental and physical trauma caused by the accident. This can be grief, anger, damage to your reputation, or disfigurement. Even if you weren’t physically injured, you may have suffered an infliction of severe emotional distress. The only exception is for medical malpractice claims. Those cases are capped each year.

What Happens If You Lose Your Personal Injury Case in California?

If you lose your personal injury case in California, you will not receive any compensation for your injuries. Not only that, but the opposing party may make a claim against you to recover their court costs and legal fees. If you believe that the court made a mistake in the trial process, you could appeal with the help of your attorney. The consequences of losing a personal injury case are high, which is why it’s important to have an attorney fighting on your side.

What Counts as a Personal Injury in California?

A personal injury can be any emotional or physical injury caused by the actions of another party. This could lead to psychological, physical, or emotional trauma. Some common incidents that lead to injuries are driving accidents, slip and fall incidents, workplace injuries, and medical malpractice. Common injuries include:

• Brain damage
• Spinal cord damage
• Head trauma
• Loss of limbs
• Cuts and bruises
• Loss of hearing or vision

You should speak with an experienced attorney for any questions you have related to your injury.

Contact Big Bear Lake Personal Injury Attorney Today

A personal injury should always be taken seriously. You never know what the long-term consequences are. Some injuries are not immediately apparent. Victims could start to experience symptoms weeks or months later. It’s important that victims get the medical attention they need. Engaging an experienced personal injury lawyer is the right first step to take. They can investigate your case and put you in contact with the right medical care providers.

At Corrales Law Group, we have extensive experience in assisting personal injury victims. Whether you have been injured in a car accident, motorcycle accident, slip and fall incident, or suffered an injury in the workplace, our team is well-positioned to help you. With our combined legal experience, you can rest assured that you’re getting quality legal advice and support. We can explore every available legal avenue for you to find the right solution. Contact us today for assistance with your case.