"How Are Settlements Split in Personal Injury Cases?" Ever wondered what happens to a settlement after it's won? It's not as simple as pocketing the full amount. Attorney Chris Parks breaks down how settlements are divided, explaining where the money goes—legal fees, case costs, expert witnesses, and liens for medical bills. If you're pursuing a personal injury case, understanding this process is crucial. Watch the full video to learn what to expect when navigating your settlement. #ChrisParksLaw #Boulder
Okay, so how is a settlement split up? What I mean by that is, if you've seen lawyer ads on TV, they’re often about people who were injured, received a lot of money, and always look perfectly normal. Yet, they’re telling you they got a million dollars. At the end of any case, even if the person is awarded a million dollars, there’s always a split.
When you hear someone say, “I got a million dollars,” it doesn’t mean they walked away with that amount in their pocket. It likely refers to the total settlement amount. After deducting attorney fees, expert costs, and lien repayments, the remaining amount is what they actually receive.
This process can be difficult and confusing, which is why your lawyer should explain everything to you clearly:
I’m Chris Parks. I’m licensed in Colorado and live in Boulder. Thanks for listening!