What Is a Settlement?

Jed Dietrich, Esq., Distinguished as a New York Super Lawyer and American Institute of Trial Lawyers Litigator of the Year, and His Team of Aggressive, Tenacious, and Hardworking Attorneys at the Dietrich Law Firm P.C. Battle to Obtain the Highest Compensation for Accident Victims in Buffalo, New York.

SettlementPersonal injury claims cover a wide variety of accidents and other mishaps, such as car crashes, slip and falls, and food poisonings. Unfortunately, victims of serious accidents may have to struggle with serious health problems, emotional distress, and financial troubles for months, if not years. One of the biggest mistakes victims make is letting their fears and apprehensions prevent them from seeking out proper legal guidance. If you, or a loved one, have been severely injured by another person, you are probably deliberating whether or not you should pursue a personal injury lawsuit. Obtaining sufficient compensation is one of the most crucial factors in making a faster recovery. With so much at stake, it is essential to consult with a highly experienced personal injury lawyer at the Dietrich Law Firm P.C.

Jed Dietrich, Esq., recognized as an Attorney and Practice Magazine’s Top 10 Personal Injury Attorney, has exclusively handled serious personal injury cases for more than 20 years. The truth is an overwhelming majority of personal injury cases are resolved out of court through settlement agreements between the parties involved and their insurance companies. Selecting a lawyer that is well-known for obtaining large settlements and jury verdicts will show defense attorneys that you are not scared of taking your case to court. Insurance companies will often consider your attorney’s reputation when evaluating the value of your claim. Insurance companies have paid Jed Dietrich, Esq. more than $175 million to resolve injury claims. Our expert negotiators will carefully determine exactly how much your case is worth and will not accept anything less. Retaining our battle-tested team will level the playing field and considerably enhance the monetary value of your case.

Distinct from other law firms, defense attorneys understand that the Dietrich Law Firm P.C.’s veteran attorneys will never pressure our clients into accepting a lower settlement offer than they deserve just to avoid going to court. If we are unable to settle a claim for an amount that will make you whole again, we will not hesitate to bring the case to trial.

The significance of retaining an accomplished and knowledgeable personal injury lawyer cannot be stressed enough. Having the best possible personal injury attorney in Western New York handle your case can make an enormous difference in setting your case early for the compensation that you deserve. Our dedicated and determined team of personal injury accident attorneys will fight to obtain unmatched results for your injuries. We offer complimentary lawsuit evaluations and consultations. The Dietrich Law Firm P.C.’s seasoned attorneys would be honored to speak with you about your case. Our best of the best team is available 24 hours a day, 7 days a week, at (716) 839-3939, or by filling out the online consultation form.

Understanding Settlement Agreements

In personal injury cases, a settlement agreement is a legally binding contract between the injured victim and the party that he or she filed a claim against. Generally, the agreement involves a certain amount of monetary compensation to be paid to the injured victim to restore him or her to their pre-accident condition. Depending on the accident and resulting injuries, victims may be able to recover compensation for both economic and non-economic damages, such as all past and present medical expenses, rehabilitation, lost wages from missing work, loss of consortium, loss of enjoyment, pain and suffering, permanent disability suffered, costs to repair or replace damaged property, and any other unforeseen costs. When calculating an appropriate settlement amount, it is imperative to consider any potential future damages, such as reduced earning capacity, medical treatments, and long-term care.

In return for receiving compensation, the victim agrees to sign a mutual or general release of liability. Defense attorneys are responsible for drafting releases. A release of liability prohibits victims from bringing further claims or seeking additional damages from the other party, such as future medical expenses, for the same accident. The document typically includes all of the parties being released, the specific claim or claims that are being released, and the settlement amount.



What Happens After a Settlement?

SettlementVictims are often surprised to discover that 3 rd parties have liens against their settlement compensation. In other words, the liens are subtracted from the settlement compensation before the victims receive any money. An experienced personal injury attorney will always ensure that the costs of liens are factored into the settlement amount. Depending on the parties that paid for the victim’s treatment, hospitals, insurance companies, government agencies may have the right to impose medical liens. Typically, liens are used in the following situations:

  1. Following the accident, the victim used his or her insurance coverage, such as Optional Basic Economic Loss (OBEL) or Additional Personal Injury Protection (APIP), to pay for required medical treatment;
  2. A hospital provided treatment to the victim even though he or she was not insured;
  3. A government agency, such as Medicare, Medicaid, or Veterans Affairs paid for the victim’s medical care; and
  4. Workers’ compensation paid benefits for missed work.

After the settlement agreement is finalized and the release documents are signed, the agreed-upon compensation will be paid and deposited into your attorney’s trust account. If the Dietrich Law Firm P.C. represented the victim, our battle-tested lawyers would begin aggressively negotiating the reduction or elimination of any liens imposed. Every effort will be made to decrease the burden of liens on the victim’s settlement. After the reduced liens are paid off, and our legal fees are subtracted, we will issue our client a check for the balance.

If you, or a loved one, were seriously injured in an accident, you may be uncertain about your course of action. Every single step you take can have a substantial impact on your case. Even the smallest error could easily result in tougher settlement negotiations, considerably lower compensation, or even a failed claim. Jed Dietrich, Esq. and his veteran team of personal injury attorneys are here for you. We are determined, disciplined, and dedicated to obtaining the best possible results for those suffering personal injuries in Buffalo, New York; Rochester, New York; Niagara Falls, New York; and throughout New York State. Time and time again, former clients of the Dietrich Law Firm P.C. have said that Jed Dietrich, Esq. is the best personal injury lawyer. View our Google 5 Star rating and our clients’ testimonials by clicking here. Call the Dietrich Law Firm P.C. today at (716) 839-3939 so that we can help you!

Call the Dietrich Law Firm P.C. immediately at (716) 839-3939 so that our aggressive, tenacious and hardworking personal injury lawyers can fight to obtain the best result for your personal injury claim in Buffalo, New York. We are available 24 hours a day, 7 days a week, and there is never a fee until we WIN for you!

Client Reviews
I am a medical doctor and have worked with many of the best lawyers in Buffalo and I can say without question that Jed Dietrich is the only lawyer I would trust with my injury case in Buffalo New York. B.O.
Dogged, Determined, and Dead-set on getting you the Maximum settlement for your injuries! T.F.
No one will work harder, smarter or better; I have retained Jed and he obtained the best result for my case. D.P.
The definition of an "A" type personality-exactly who I would want to represent me in a serious personal injury case. E.S.
Jed is a Master in the courtroom without an equal. S.C.
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