(Where claims are being paid, the workers' comp attorney fee is actually 10%)
The Law Offices of David Zimmerman, based in Sterling Heights, MI (Metro Detroit) with great experience in Michigan courts throughout the state, including the Metro Detroit, Michigan, Franklin, MI, Southfield, MI, Farmington, Farmington Hills, and Orchard Lake, MI areas, will evaluate your situation and present you with the available settlement options. We've helped many injured workers in Michigan negotiate lump sum settlements in workers' compensation cases for back injuries. There is much to consider in determining a fair lump sum settlement amount. You should be aware that the workers' compensation carrier does not represent your interests in these negotiations and has a financial interest in settling your case for the lowest possible amount. Workers' compensation claimants that settle their claims directly with the insurance company and claims adjuster, suffer significant reductions in settlement amounts. Give yourself a big advantage with a big decision and contact us now. We offer a free initial consultation to answer your questions about how lump sum settlements work.
In most cases, the medical records for your back injury must be reviewed by your attorney, along with a review of your work experience, education, and training. Your average weekly wage must be determined along with the workers' compensation rate to determine if the insurance company is paying you enough per week. Generally, your weekly rate is calculated into a yearly rate and a settlement is negotiated with the claims adjuster. Additional monies for attendant care, future medical, and other contingencies must be calculated in. Our firm uses 20 years of workers' compensation expertise to get you much more than you can negotiate on your own. Don't take the claims adjuster's word that they are offering you a fair deal.
Yes, if you are being paid workers' compensation benefits and receive a SSD award, your SSD benefits will usually be reduced. Therefore, many settle workers' compensation cases with a lump sum settlement so that they can maximize their SSD benefits. Often times, you will be trading dollars and a workers' compensation settlement helps to maximize your wealth and payments.
No, it is not taxable. It is paid in after tax dollars. The only exception is adjusted gross income in rare circumstances. Your tax advisor can advise you if you fall into this rare exception.
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