While the average mesothelioma trial award is significantly higher than the average mesothelioma settlement, most lawsuits are settled out of court. A lawyer trained in asbestos litigation can help you decide the best option.
Most mesothelioma settlements begin as lawsuits. History shows an overwhelming majority of cases end in a settlement before reaching the courtroom.
Some cases go to trial, where a judge or jury can make a verdict that awards significant compensatory and punitive damages. However, trials may take a long time to conclude.
Settlement and verdict amounts may depend on:
- A claimant’s diagnosis and medical history
- The number of companies sued
- Where the claim is filed
- Proof of negligence
- Lost wages, medical bills and other expenses
Compensation is linked to the strength of the case. This brings into play the plaintiff’s specific diagnosis, their health condition, and the degree of perceived liability on the part of one or more defendants.
An experienced mesothelioma attorney can build your case and negotiate settlements on your behalf. They can also help you understand the statute of limitations for the state where you file a claim.
Common Questions About Mesothelioma Settlements and Verdicts
How Long Does It Take to Get a Mesothelioma Settlement?
The time it takes to get a mesothelioma settlement varies for each case. Experienced mesothelioma attorneys work hard to expedite claims in order to obtain compensation for patients as quickly as possible. Some patients may receive settlement checks within a few months, while others may wait more than year from the time their claim was filed.
What Is the Average Mesothelioma Settlement Amount?
According to a 2016 Mealey’s Litigation Report, the average mesothelioma trial award is estimated at $2.4 million. The average mesothelioma settlement is between $1 million and $1.4 million and typically paid by multiple defendants. However, every case is unique.
Are Mesothelioma Settlements Taxable Income?
Whether mesothelioma settlement money is taxable depends on the types of damages awarded. In general, compensation for lost wages and emotional distress are taxable. Meanwhile, compensation to cover medical expenses are not taxable. An experienced mesothelioma lawyer can explain how your settlement may be taxed. The Tax Cuts and Jobs Act of 2017 expanded the amount of settlement money that plaintiffs must pay taxes on.
Who Is Awarded in a Wrongful Death Settlement?
Compensation awarded in a wrongful death settlement may go to the estate or surviving family members, depending upon who filed the claim. Distribution of settlements to surviving family members can vary depending upon unique circumstances in each case.
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