What Does the Settlement Process Look Like?



What happens when you settle a case? A lot of people don’t know what the settlement process is like once a case settles. So, to take you through the process, we will be begin with your car accident lawyer negotiating the maximum settlement amount from the insurance company. Once a car accident case settles, there is still work to be done by your Las Vegas car accident lawyer.
Once the settlement is reached, the insurance company will prepare a document, called a Release of All Claims, outlining the settlement terms. The settlement document is usually just referred to as the Release. Your attorney will review the settlement agreement before you sign it.  The Release will have your name, the date of the car accident and the other parties’ information as well. The Release basically states that by accepting the settlement, the case is over and you have resolved all of your claims against the person who hit you in the car accident and their insurance company.
The insurance company will usually require that your signature on the Release, be done in the presence of notary. The notary just makes sure that you are the person actually signing the Release and not some other person. That way, the insurance company can be confident that you personally signed the Release and that you know the amount of the settlement. Since your LasVegas auto wreck attorney has a notary at their office, you can come down to their office to sign the Release, if that is more convenient for you. Otherwise, you can sign the Release in front of a notary of your choosing (at your bank or a mail plus center) and mail the Release to your car accident lawyer.
Once your attorney receives the Release, they will send the original document to the insurance company. After the insurance company receives the Release, they will issue the settlement check to your lawyer. Once the settlement check clears your attorney’s trust account, you can come pick up your portion of settlement monies (Your car accident attorney makes sure that all of your medical bills are paid). It takes about 30 to 45 days to receive your settlement monies once you sign the Release.
Next time, we will talk about the district courts in Las Vegas and how the different courts affect your case.

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