When you suffer personal injury, it can impact your life in a variety of ways, including financially. Medical expenses, lost wages, and other expenses can pile up quickly, particularly if the injury is severe or long-lasting. In some cases, the injury may also have lasting effects that will impact your finances in the future. This raises the important question: can you include future damages in a personal injury settlement agreement in Maine?
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What Are Personal Injury Settlement Agreements?
Before we dive into the specifics of future damages, it is important to understand exactly what a personal injury settlement agreement is. This type of agreement is a legal document that formalizes the terms of a financial settlement between the injured party and the party responsible for the injury. Settlement agreements are typically negotiated outside of court, although they may be subject to court approval.
When you sign a settlement agreement, you are agreeing to accept a certain amount of money in exchange for releasing the other party from further liability for your injury. This means that you cannot ask for more money in the future, regardless of how much your ongoing expenses and damages may be.
Types of Damages in Personal Injury Cases
There are two main types of damages that may be awarded in a personal injury case: economic and non-economic. Economic damages are typically those that have a specific monetary value, such as medical bills, lost wages, and future income losses. Non-economic damages, on the other hand, are those that are more difficult to quantify, such as pain and suffering, emotional distress, and loss of enjoyment of life.
Future Damages in a Personal Injury Settlement Agreement
When negotiating a settlement agreement, it is important to consider all of the expenses and damages you have incurred up to the present, as well as any that you may incur in the future. In some cases, the injury may have long-term or even permanent effects that will require ongoing medical treatment or limit your ability to work.
In Maine, it is possible to include future damages in a personal injury settlement agreement. However, it is important to be thorough and accurate in your calculations, as it is not possible to go back and ask for more money once the agreement is signed.
Working with an Experienced Personal Injury Attorney
If you have suffered a personal injury, it is in your best interest to work with an experienced personal injury attorney. Your attorney will have experience negotiating settlement agreements and can help ensure that you receive fair compensation for your injuries. They will also be able to advise you on the best approach to take when it comes to calculating future damages and including them in your settlement agreement.
Conclusion
In Maine, you can include future damages in a personal injury settlement agreement. However, it is important to be thorough and accurate in your calculations, as you will not be able to ask for more money once the agreement is signed. The best way to ensure that you receive fair compensation for your injuries is to work with an experienced personal injury attorney who understands the complexities of settlement negotiations.