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Settlement Questions

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  • 12-05-2020 8:14am
    #1
    throwAwayTed45
    Registered Users Posts: 1 ✭


    Hi,

    I was involved in medical negligence case for a good few years now.
    It took many many reports and lots of examinations and now last week I was informed I am about to get settlement offer.

    In short - I received permanent injury, it's manageable but I am still in my mid 20's and all reports state that it will get worse as I get older.

    I have couple of questions, hoping someone can advise:

    1) Is settlement payout taxable?

    2) How does offer work? I was advised that offer will be made and my solicitor will advise if we should proceed to high court or not, due to covid-19 situation - they said all this will be done via phone, is that doable via phone?

    3) How does payout happen? Will defendant transfer payout directly into my bank account? Or will it go to solicitor and then they will send it on?

    4) Will I have to prove anything to bank? I've heard cases where people had their accounts frozen due to large sum being deposited/sent?

    5) Are medical negligence cases calculated differently or do they follow Book of Quantum from PIAB?


    Thank you.

    I know I should probably be asking these questions to solicitor - but I feel like those are silly generic questions to ask them.


Comments

  • Options
    #2
    listermint
    Registered Users Posts: 33,823 ✭✭✭✭listermint


    throwAwayTed45 wrote: »
    Hi,

    I was involved in medical negligence case for a good few years now.
    It took many many reports and lots of examinations and now last week I was informed I am about to get settlement offer.

    In short - I received permanent injury, it's manageable but I am still in my mid 20's and all reports state that it will get worse as I get older.

    I have couple of questions, hoping someone can advise:

    1) Is settlement payout taxable?

    2) How does offer work? I was advised that offer will be made and my solicitor will advise if we should proceed to high court or not, due to covid-19 situation - they said all this will be done via phone, is that doable via phone?

    3) How does payout happen? Will defendant transfer payout directly into my bank account? Or will it go to solicitor and then they will send it on?

    4) Will I have to prove anything to bank? I've heard cases where people had their accounts frozen due to large sum being deposited/sent?

    5) Are medical negligence cases calculated differently or do they follow Book of Quantum from PIAB?


    Thank you.

    I know I should probably be asking these questions to solicitor - but I feel like those are silly generic questions to ask them.

    Your paying the solicitor for their advice...


    You should be asking them any questions you like


  • Options
    #3
    nuac
    Moderators, Society & Culture Moderators Posts: 6,769 Mod ✭✭✭✭nuac


    Mod
    As Listermint says.
    Leaving open for general discussion subject to forum rules


  • Options
    #4
    Claw Hammer
    Registered Users Posts: 6,179 ✭✭✭Claw Hammer


    listermint wrote: »
    Your paying the solicitor for their advice...


    You should be asking them any questions you like

    You men you don't know the answers.


  • Options
    #5
    Lenar3556
    Registered Users Posts: 1,377 ✭✭✭Lenar3556


    throwAwayTed45 wrote: »
    Hi,

    I was involved in medical negligence case for a good few years now.
    It took many many reports and lots of examinations and now last week I was informed I am about to get settlement offer.

    In short - I received permanent injury, it's manageable but I am still in my mid 20's and all reports state that it will get worse as I get older.

    I have couple of questions, hoping someone can advise:

    1) Is settlement payout taxable?

    2) How does offer work? I was advised that offer will be made and my solicitor will advise if we should proceed to high court or not, due to covid-19 situation - they said all this will be done via phone, is that doable via phone?

    3) How does payout happen? Will defendant transfer payout directly into my bank account? Or will it go to solicitor and then they will send it on?

    4) Will I have to prove anything to bank? I've heard cases where people had their accounts frozen due to large sum being deposited/sent?

    5) Are medical negligence cases calculated differently or do they follow Book of Quantum from PIAB?


    Thank you.

    I know I should probably be asking these questions to solicitor - but I feel like those are silly generic questions to ask them.

    1) Generally not.
    2) Can certainly be done by phone
    3) Would usually be made to your solicitors client account being your representative who would in turn make available to you.
    4) It’s possible the bank could ask as to the source of the funds, but there should be no difficulty in demonstrating this. I certainly wouldn’t expect any freezing of a bank account.
    5) Book of Quantum can sometimes be misleading, it’s very general and doesn’t consider the specific facts.

    Write down all these questions and put them to your solicitor. You are paying good money for advice tailored to your specific case - make use of it!


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