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Top Things to Consider As You Prepare to Settle


Top Things to Consider as You Prepare to Settle

We asked Ringler Consultants the most important things to consider as you prepare to settle.  It’s not enough to just rely on the attorney, education is key.

Why It’s Important to Know the Process of Settling a Case From Both the Defense and the Plaintiff Perspective

Most good negotiators will try for a win-win or aim at a situation where both sides feel they’ve won. Negotiations tend to go much better if both sides perceive they are in a win-win situation.  This includes both sides approaching the negotiation wanting to “create value,” meaning both parties want to satisfy both their needs and the needs of the other parties.

How do we do this?  We approach it by obtaining information about our competitors and understanding their perspective. Once we have that knowledge, we are able to prepare for a negotiation in the best possible way. Any idea we can get about the people we are going to negotiate with helps us to improve our relationship with them.  This relationship includes the short term, but it also helps us to build bridges which establish future relationships.

What to Consider as Your Case Prepares to Settle.

There are many factors to consider, however these are the top 10 to keep in mind as you prepare to settle.

  • What have you lost as a result of the accident and how will it be replaced?
  • What financial needs might you have in the future?
  • Have you reached maximum recovery or are you still suffering?
  • What’s your pain and suffering worth?
  • What do you want your future to look like?
  • Do you feel like you’ve been heard throughout the process?
  • What medical bills do you have now and into the future?
  • What fees will you owe (attorney fees for example) as a result of this settlement?
  • Have you been presented with a variety of options from a variety of sources (not just your attorney)?
  • Have you negotiated?

During This Time, Who Are the People That Should be Involved in the Case?

First and foremost – your family should be a top consideration. This is especially true if a family member is appointed as a guardian or a caregiver to the injured party.

Beyond family, there are other people you should also expect to see involved in the case:

  • Legal counsel representing plaintiff and defense
  • Claims Adjuster
  • Guardian Ad Litem, if appointed by the Court.
  • Probate Court, Judge, if Court Approval of settlement required.
  • Settlement Consultant
  • Financial Planner, Accountant or CPA

Here at Ringler, we believe that structured settlements provide a win-win-win solution for everyone involved. For attorneys, we provide all the details and information.  This will help analyze the case and determine how a structured settlement will benefit their clients. For insurance professionals, we help them navigate the injured person’s expectations of getting a lump-sum payment offer versus some form of a structured settlement.

For injured people and their families, the main concern is to deliver peace of mind by helping to move on from a traumatic event without worrying about managing a large sum of money. Ringler is the largest settlement planning company in the USA with over 250 professionals in more than 70 offices nationwide. We take an individualized, customer-focused approach to each case and collaborate with the injured party, attorneys, and insurance professionals. The first step we always take is to sit down with the injured party and just listen with respect. We then use several financial tools to match your investment goals and needs so your situation doesn’t remain a dark cloud hanging over your life. About one-third of all structured settlements in the United States involve a Ringler consultant, so you can rest assure that you’ll be in capable hands.

As you prepare to settle, you can easily find a consultant near you here: Find a Ringler Consultant Near me

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