This form is to be used as an acknowledgement by client of settlement of the client's claim and as a reciept for the distribution of settlement funds.
Oregon Settlement Statement of Personal Injury Case and Receipt
State:
Multi-State
Control #:
US-PI-0019
Format:
Word;
Rich Text
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How to fill out Settlement Statement Of Personal Injury Case And Receipt?
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FAQ
The result of a settlement agreement involves the responsible party paying a certain amount to compensate for the damages caused to the victim.
The agreement should set forth what money is being paid for, i.e., the type of damages, as well as the claims it is being paid on. If some damages are taxable and some are not, the settlement agreement should set out, in as much detail as possible, the proportions and rationale.
Whether a personal injury settlement is taxable will depend on the nature of the damages awarded, a Portland personal injury lawyer explains. In general, compensatory damages for physical injuries will not be subject to taxes.
In Oregon, the statute of limitations for filing a lawsuit on personal injury claims like motor vehicle accidents or dog bites is two years from the accident date. ORS 12.110(1). That means you have two years from the date you are injured to file a lawsuit against the responsible party for compensation.
A settlement occurs when the plaintiff and defendant agree that the defendant pays a certain amount in return for the plaintiff dropping the lawsuit. Once a settlement has been reached, the two sides do not proceed to trial. Sometimes an insurance company will make the payment and not an individual defendant.
These factors include: The severity of the injuries sustained. The impact the injuries have on the plaintiff?how much the injuries interfere with daily life and work, for example. Cost and duration of treatment and recovery from the injuries. The emotional and psychological damage from the injuries.
A settlement package is as a collection of pertinent documentary evidence relating to your injury, typically accompanied by a letter outlining the injuries and economic losses. Insurance Companies won't pay if you can't prove that you've suffered, so it is important to prepare a proper settlement package.
(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.