Once a case is resolved or settled and we’re able to reach a settlement for one of our clients, paperwork has to be drafted.
We need what’s called a stipulation of discontinuance and a release. A release basically says that a case is being settled, being resolved for a certain sum of money, and that the injured party or my client understands that this case is now over. They can never bring a lawsuit again for these same injuries.
It explains that this resolves it. So, the dispute that’s been ongoing, sometimes for quite a bit of time, is finally over.
I always have my clients sign that stipulation and sign those papers as soon as possible because my clients have waited long enough to be compensated for what they’ve been through.
Those papers are immediately exchanged with both the insurance company and the defense attorneys. There are other laws that apply sometimes depending on a person’s age, such as whether or not Medicare or perhaps Medicaid may apply.
There may be liens, and other parties may be entitled to be paid back for certain benefits provided, like a workers’ compensation carrier.
So, there are a lot of nuances that come into certain cases. But if those don’t apply, the paperwork is usually drafted within 24 hours of reaching a settlement, getting that over immediately to the insurance carrier and defense attorney, and staying on top of them and asking them to get that payment made as timely as possible.
Once a case is settled, nobody wants to wait around for that settlement. My clients want that satisfaction of finally being done and being able to have closure, in addition to, of course, receiving their settlement.