Minnesota Workers’ Compensation Settlements
Serious injuries at the workplace often involve a settlement. What this means is that you may be offered a lump sum amount instead of receiving ongoing benefits for your injury. In some ways a settlement sounds like the perfect solution – you will get a lot of money now and then go back to work later. However, in other instances, a settlement is a way to simply keep you happy for now all the while leaving you out of pocket down the road when the money runs out and you are still suffering.
If you are offered a settlement, then you need to think about your options clearly. Speaking to a Minnesota worker’s compensation lawyer can help you see the big picture and determine if the settlement is fair. In many cases, it won’t be.
Here are a few things you need to think about when it comes to workers’ comp settlements:
- Settlements are usually reserved for serious injuries that come with long term disability
- Settlements tend to be a quick answer to a problem and require budgeting on your part
- Settlements are often not enough to address the ongoing costs that you and your family will face due to this injury
Keeping your options open is the smartest move you can make when faced with the decision to accept a worker’s comp settlement.
Accepting a Settlement
Settlements occur in all types of insurance claims. If you are ever in a car accident your insurance company will probably ask you to sign a form and offer you a certain amount for your losses.
This is also the case with worker’s compensation and like other aspects of insurance, often the insurance company does not have your best interest at heart.
It is important that you speak to a Minnesota worker’s compensation attorney before you sign anything. Our team can review the settlement so you can be sure you are getting everything you are entitled to. Once you sign the form, you lose the opportunity for any further negotiations, even if the money runs out and you are still unable to work.
When faced with a long term disability due to a work related injury, you need to keep the big picture in mind. How many years will you be unable to work? How much will it cost each year in medical expenses and treatments? Will you need long term care? Will you need special medical devices and equipment? These things will add up, especially over the years, and thus you don’t want to sign a release form without thinking this through.
Our attorneys can help you with all aspects of workers’ comp settlements including:
- lump-sum settlement, in which you receive the payment all up front
- structured settlements, in which the payments are spread out over a period of time, up to several years.
Minnesota Workers’ Comp Settlement Lawyer
Faced with the difficult decision whether to accept a settlement or fight for something better? Contact the Law Firm of Heimerl & Lammers at (612) 294-2200 or (651) 777-1811 to speak to a MN workers comp attorney free of charge. We can determine what is in your best interest and calculate what amount you are entitled to.