If you’ve been injured in an accident in Missouri, you may be entitled to compensation for your damages. For many people, the idea of pursuing a lawsuit can be overwhelming. However, reaching a settlement is often the best way to get the compensation you deserve. Before you begin, there are a few things to know about Missouri personal injury lawsuit settlements.
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Understanding Missouri Personal Injury Lawsuits
Before we talk about settlements, let’s discuss personal injury lawsuits in Missouri. Personal injury lawsuits arise when one person is injured because of another party’s negligence or wrongdoing. The injured person is known as the plaintiff, while the party responsible for the injury is known as the defendant.
In Missouri, plaintiffs must prove that the defendant was negligent in order to win a personal injury lawsuit. This means that the defendant had a duty to behave with a certain level of care and that they breached that duty, causing the plaintiff’s injury. The plaintiff must also prove that their injuries were caused by the defendant’s actions.
What Is A Settlement?
A settlement is an agreement between the plaintiff and defendant to resolve a lawsuit without going to trial. In a settlement, the defendant agrees to pay the plaintiff a certain amount of money in exchange for the plaintiff dropping the lawsuit. Settlements can also include other terms that both parties agree to, such as confidentiality agreements or non-disclosure agreements.
In Missouri, most personal injury cases are settled before trial. Trials can be expensive, time-consuming, and unpredictable, and settling a case allows both parties to avoid those potential drawbacks.
Negotiating A Settlement
Before a settlement can be reached, the plaintiff and defendant will typically engage in negotiations. During these negotiations, both parties will try to reach an agreement on the amount of compensation that the defendant will pay to the plaintiff. These negotiations can be conducted informally between the parties, or they can involve attorneys or mediators.
If the parties are unable to reach an agreement on their own, a judge may order them to participate in mediation, where a neutral third party will help facilitate negotiations.
Factors That Affect Settlement Amounts
The amount of a settlement in a personal injury case can vary widely depending on a number of factors. Some of the factors that can influence settlement amounts include:
- The severity of the plaintiff’s injuries
- The amount of medical treatment needed to treat the plaintiff’s injuries
- The plaintiff’s lost wages and other financial losses
- The strength of the evidence against the defendant
- The defendant’s willingness to settle
- The skill of the plaintiff’s attorney
Because settlement amounts can be so variable, it’s important to work with an experienced personal injury attorney who can help you understand what compensation you may be entitled to.
Timing Of Settlements
Settlements can happen at any time during the course of a personal injury lawsuit. Sometimes, settlements are reached before a lawsuit is filed, while other times they occur after the trial has already begun. Most often, settlements are reached during the discovery phase of a lawsuit, which is when both parties exchange information and evidence with each other.
Tax Implications
Finally, it’s important to understand the tax implications of a settlement. In Missouri, most personal injury settlements are not taxable. However, there are some exceptions to this rule, so it’s important to talk with a tax professional to understand how your settlement will affect your taxes.
Conclusion
If you’ve been injured due to someone else’s negligence in Missouri, you may be entitled to compensation for your injuries and other damages. While the idea of pursuing a lawsuit can be intimidating, reaching a settlement can be the best way to recover the compensation you deserve. By understanding the basics of Missouri personal injury lawsuits and settlements, you can protect your rights and work toward a positive outcome in your case.