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Disbursement of settlement proceeds" means the payment or sending of all proceeds of the transaction to the person or account designated to receive the proceeds.
A personal injury damage award is not subject to Federal or State income tax. The Internal Revenue Code and the New Jersey Gross Income Tax Act excludes from gross income the amount of any damages received on account of personal injuries or sickness.
Most average personal injury car accident cases in New Jersey can take anywhere from six months to two years to resolve. The duration of your case will vary depending on its specifics, including whether it goes to trial.
Disbursement means paying out money from a fund. The term disbursement may be used to describe money paid into a business' operating budget, the delivery of a loan amount to a borrower, or the payment of a dividend to shareholders.
When a company pays in cash or cash equivalents, it makes a disbursement. The payments made by an attorney for its clients to third parties for court, investigation reports, and medical care are examples of disbursements.
A disbursement is the payment of federal student aid funds to the student by the school. Students generally receive their federal student aid in two or more disbursements. Was this page helpful?
(2) ?Disbursement of settlement proceeds? means the payment of all proceeds of a transaction by a settlement agent to the persons entitled to receive the proceeds.
It should contain a clear summary of the facts, and an indication of the injuries suffered, and of any financial loss incurred. In particular, it should provide the following information: Details about how the accident occurred. The date and time of the accident or incident.