The Finances Of Winning In Court

by Pam on April 21, 2017

If you have recently won a legal case of any kind, then congratulations are in order. There is no doubt in anyone’s mind that this is the better side of the situation to be on, and you are probably keen to celebrate your win. However, it is important that you don’t lose your head completely at this point, as there will still be many things to consider. Even if you win your case, you will need to think about many of the financial implications of having had the court case in the first place. All of the following can vary dramatically depending on your own situation, what kind of case it was, whether you were the plaintiff or the defendant, and what your local laws might be. However, you will find that it is worth considering all of the following anyway.

The Fees

Regardless of whether or not you won, there is a good chance that you will have some fees to pay. There are a few basic types of fees, and it is a good idea to get to know what they are as soon as possible. First up, you have the obvious: court fees. No matter what side you were on, you will have some court fees to pay. Hopefully, you were informed of the extent of thee at the beginning of the trial – but even then, there is a chance that things changes, as they so often do in the courtroom. You will need to look at your bill and pay it as soon as possible. You will probably also have some lawyers fees to think about, and these can be particularly high regardless of outcome. Again, you will have been billed, but it is in your own interest to look through this bill and double check the details. Make sure you are not paying for anything which you didn’t benefit from.

The Settlement

Having won, you of course have the fantastic opportunity of receiving a settlement. You are no doubt delighted by this, as you should be, but you will still need to take a step back and think about it first and foremost. There are some questions to ask before you can take the settlement, one of the most pertinent being: ‘should I take a structured settlement?’ If you have never heard of a structured settlement before, you might actually find it suits your situation. With this kind of settlement, you receive your money over a longer period of time, set out specifically at regular intervals. Whether to do this, or to receive a lump sum, is entirely up to you.

The Future

Often at the end of trials and court cases, those involved are keen to just move on with their lives, and you might feel a sense of this too, even after winning the case. This is absolutely what you should be keen to do, but let’s not forget that a big part of it should be planning for your financial future too. The more you plan your financial life ahead, the better off you will be in the long run – and it is worth using this moment of hiatus to figure out what you should really be doing.

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