Toronto Injury Lawyer Blog
Lots of clients want to know about what the last steps are in a personal injury case when the parties reach an agreement. What happens upon settlement? Does the money magically appear in my bank account? When will I receive my settlement funds? Are the settlement funds taxable? Do I have to go to Court to close my file? Is there any other work required of me for my case once the case has settled?
These are all great questions.
With this edition of the Toronto Injury Lawyer Blog, we hope to answer those “late in the case” questions, and more.
Let’s pretend for a moment that after many years of hard fought litigation; and after many arguments between the lawyers on both sides that everyone seems to agree on a deal in order to get the case settled.
The agreement takes place outside of Court, perhaps moments before trial, or perhaps at mediation or in an exchange of emails between the parties.
What will then take place is an exchange of documents between the lawyers which provide clear terms with respect to the terms of the settlement.
Those documents can take form in something called “Minutes of Settlement“. Or, they can take place through a simple letter or email detailing what has been agreed upon. The purpose of this is to confirm the terms of the deal, so that there are no misunderstandings between the parties.
