When you are injured at work, you likely qualify for workers’ compensation to cover your lost wages and medical bills. If you are partially or totally disabled in the accident, you should consider whether weekly installments, a lump sum, or a structured settlement is most beneficial for you.
When seeking workers’ compensation settlements in Clarkesville, you should consult a lawyer who knows how to negotiate on your behalf. Insurers are well-known for offering less money than you are entitled to, hoping you do not understand your rights. At Smith Hulsey, our experienced attorneys could fight for your best interests and ensure you get the payments you deserve.
A skilled Clarkesville attorney could help you calculate the amount you will need to pursue a fair workers’ compensation settlement. This should account for all effects of your injury, such as your current and future medical needs and lost wages. For instance, a settlement should factor in if you are disabled and cannot return to your former job or if you must take a job that pays less. Settlements can also cover other impairments, such as partial blindness from working around bright lights or fires.
Under Georgia law, you must have received weekly benefits for at least 26 weeks to be considered for a settlement. When discussing whether to pursue a workers’ compensation settlement, your local attorney will consider these elements. Once you accept benefits, you generally cannot sue your employer—even if their negligence caused your work injury.
Our attorneys are skilled negotiators in pursuing workers’ compensation settlements for injured employees in Clarkesville. We could ensure your payments adequately account for the short-term and long-term impact of your injury or illness.
According to Georgia Code § 34-9-222, the Georgia State Board of Workers’ Compensation can discharge your employer from further liability once you accept a lump sum payment. The lump sum is based on what you would have received had you continued weekly benefits, reduced to their current worth using an interest percentage calculated annually.
A structured settlement guarantees a specific amount is paid incrementally for your lifetime or a fixed time. The workers’ compensation insurer transfers the settlement amount to another financial company that makes the structure payments regularly. Lump sum payments have tax disadvantages, but structured settlements are not taxable. The workers’ compensation settlement attorneys at our firm could negotiate with the insurer to maximize your benefits.
Smith Hulsey is experienced at navigating the workers’ compensation system and getting you adequate benefits whether you choose to take a lump sum or a structured settlement. Settlements can stabilize you financially and allow you to pay off your bills while you are unable to work during your recovery.
Our legal team could advise you on managing a settlement, as your benefit payments will end when you accept one. We could also explain the benefits and drawbacks of lump sum and structured workers’ compensation settlements in Clarkesville, including tax ramifications. If you are currently receiving workers’ compensation benefits and would like to discuss settlements, contact Smith Hulsey to set up a consultation.
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