Lump Sum Settlements

Lump sum settlements are financial agreements in which an injured party receives a single, comprehensive payment to resolve a claim. This form of settlement is often seen in workers’ compensation cases, personal injury lawsuits, and insurance claims. Opting for a lump sum settlement means you’re looking for a conclusive resolution to what might be a challenging period in your life. It’s about finding closure and the means to move forward.

Since 1959, the Reading, PA law firm of Liever, Hyman & Potter, P.C. has delivered for clients searching for lump sum settlements. From future medical treatment to lost wages, we’ll help you secure the compensation that’s rightfully yours.

Why Should You Agree to a Lump Sum Settlement?

Opting for a lump sum settlement offers several benefits, particularly in providing immediate access to funds that can help cover medical bills, rehabilitation costs, and living expenses during recovery. This immediate financial support is huge for many, as it allows for a smoother transition into recovery or adaptation to new life circumstances without the lingering burden of ongoing claims.

Financial Planning and Peace of Mind

Receiving a lump sum gives you the freedom to manage your finances with more flexibility. Whether it’s paying off debt, investing, or securing your family’s future, a single substantial payment can significantly contribute to your peace of mind and financial stability.

Avoiding Prolonged Legal Processes

Settling for a lump sum often means avoiding lengthy courtroom battles. Legal processes can extend for months or even years, delaying much-needed financial relief. A lump sum settlement can provide a quicker resolution, allowing you to focus on what matters most — your recovery and well-being.

What Can Lump Sum Settlements Result in?

Immediate Financial Relief

One of the primary outcomes of lump sum settlements is immediate financial relief. This is especially beneficial for those facing high medical expenses or those who are unable to work due to injury. A lump sum can alleviate financial stress, providing a solid foundation for your next steps.

Control Over Your Funds

With a lump sum settlement, you gain full control over your financial compensation. This control extends to how you choose to spend or invest your money, offering an opportunity to make decisions that suit your long-term goals and needs.

Closing a Chapter

Accepting a lump sum settlement also signifies the end of a legal dispute or claim. It marks the closure of one chapter and the beginning of another, where you can put past challenges behind you and focus on rebuilding and moving forward.

How Are PA Lump Sum Settlements Calculated?

In Pennsylvania, calculating a lump sum settlement involves various factors, including the severity of the injury, estimated future medical costs, and lost wages. It’s a process that requires careful consideration of both current and future needs. We don’t want you to accept a lump sum that doesn’t do the job for you.

Consideration of Medical Expenses and Future Care

The calculation includes immediate medical expenses and anticipated future treatments or care necessary for recovery or managing a chronic condition. This ensures that the settlement reflects not just present needs but also secures your future well-being.

Assessment of Lost Wages and Earning Capacity

Another crucial factor is the impact of the injury on your ability to work and earn an income. The settlement calculation takes into account lost wages and the potential reduction in future earning capacity, aiming to compensate you for both immediate and long-term financial losses.

Trust That Liever, Hyman & Potter, P.C. Will Guide You to the Right Settlement Amount

At Liever, Hyman & Potter, P.C., our team is committed to advocating for your rights and interests. We bring experience and compassion at every step and a commitment to the fairest of outcomes, making sure that you get what benefits you.

If you’re exploring options for securing a lump sum settlement or need assistance with workers’ compensation claims, medical malpractice concerns, or other related services, trust our attorneys to do the job for you. Our team is ready to support you in taking the next steps toward securing a better future and well-being.