Wrongful Death Pre-Settlement Funding
A wrongful death occurs when a personal injury results in a fatality. Losing a loved one because of someone else’s negligence or intent to cause harm is a devastating experience resulting in intense emotional and financial distress. Surviving spouses and children may be left financially vulnerable in the wake of a wrongful death, suddenly faced with covering burial costs and living expenses on their own. When legal action is taken against the party at-fault, the victim’s relatives can receive compensation for their loss through a wrongful death settlement.
Wrongful Death in Stats
How LitiPay Settlement Funding can help car accident victims
LitiPay’s pre-settlement funding can support victims needing to cover short-term costs, allowing the victim to pursue legal recourse and have the at-fault party pay fully for damages and costs.
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Advice for wrongful death victims
The sudden death of a loved one is a devastating and overwhelming experience. In addition to dealing with the emotional trauma of such a loss, surviving family members may find themselves financially responsible for a burial, medical bills, or living expenses the deceased once covered. Developing a response plan can empower family members to regain control of their lives and reduce the financial burden of the loss.
After a wrongful death occurs, the victim’s survivors should:
Seek emotional support.
Lean on family, friends, and mental health experts as you work through your grief.
Talk to an attorney as soon as possible.
There are many types of wrongful death cases, and numerous ways to seek restitution. Get professional legal counsel to help you figure out your next steps.
Determine your ability to file a wrongful death claim.
Immediate family members are typically eligible to file a wrongful death claim, but you should ask your attorney about your state’s wrongful death laws.
FIle a wrongful death claim.
With your attorney, file the right documentation to initiate legal action against the defendant in civil court.
Keep track of your expenses.
Maintain an inventory of the costs accumulated as a result of the wrongful death including funeral, medical, and legal expenses
Processing the wrongful death of a loved one can take years of emotional work and involve drastic financial shifts. A plan of action can be a comforting and practical tool to help you get through this difficult time.
How Wrongful Death Settlements Work
Unfortunately, wrongful deaths are a leading cause of fatalities in the United States. Between car accidents caused by drunk drivers, medical malpractice cases, and work injuries, hundreds of thousands of people lose their lives as a result of someone else’s negligence. Wrongful death victims often leave behind family members who must suddenly take on financial responsibilities they are not prepared to face.
The immediate family members of wrongful death victims can pursue compensation for the financial and emotional damages resulting from the incident through litigation. However, for both family members and liable parties, pursuing wrongful death settlements is often preferable to letting a case resolve in court. A lawsuit’s duration can extend the trauma of the loss and may not yield the results either the plaintiff or defendant is expecting.
At the same time, wrongful death settlements present family members with their own unique set of risks. For example, family members may be pressured to accept a settlement amount that is much lower than what they really need and post-settlement funds may take too long to be disbursed.
On the other hand, pre-settlement funding makes funds available to the settlement recipients immediately. Pre-settlement funding is not a loan, so the family members of wrongful death victims can get the funding they need to address their urgent financial obligations without worrying about paying the funding amount back if their case does not result in a monetary recovery.
FAQs from Wrongful Death Settlements
Disclaimer: The information on this page is not intended to be legal advice. Please ensure you seek legal counsel in the event of a personal injury.
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