After securing a personal injury settlement, you may wonder, “Are personal injury settlements taxable?” The experienced St. Louis personal injury attorneys at understand that this question weighs heavily on the minds of our clients. We aim to provide clear, straightforward answers to help you understand the complexities of personal injury settlements and taxes.
The Tort Victims’ Compensation Fund (TVCF) is a special fund set up by the state of Missouri specifically to help people who were hurt in a personal injury incident but were unable to secure all the financial compensation they needed to pay for their damages.
Thoracic outlet syndrome (TOS) can sometimes start out looking like a bruise but can be dangerous if left untreated. TOS describes a group of disorders that occur when nerves and/or blood vessels (arteries and veins) in the lower neck and upper chest area become compressed, injured, or irritated.
When a person suffers repeated concussions, the trauma can lead to a severe long-term condition called chronic traumatic encephalopathy (CTE). CTE is a degenerative disease that causes brain inflammation, and unfortunately, it can only be diagnosed at autopsy. As a result, experts are still trying to understand the extent of its repercussions, but it is associated with post-concussive syndrome, second impact syndrome, and the development of dementia.
If you win a personal injury lawsuit, the court will award you damages for medical bills, lost income, pain and suffering, etc. In some cases, you may also be able to recover prejudgment interest. Prejudgment interest is additional compensation awarded for the time between when you were injured until the court entered the judgment.
If you are facing any type of paralysis following a personal injury accident caused by someone else’s negligence, you have the right to file a lawsuit for compensation. In addition to the physical repercussions, the resulting financial costs can be devastating.