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My wife fell in a large grocery store and has been seeing a orthopedic surgeon for her knee injury the store wants to settle with my wife without lawyers if she agrees to an offer is she liable to pay taxes on the settlement ????
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Personal injury settlements are generally not taxable income. Your wife is well advised on holding off on any discussions of settlement, until her doctor can fully evaluate her injury and know whether she makes a complete recovery or has a permanent injury; don't be in a hurry to try to negotiate a quick settlement, that is exactly what the insurance company is hoping for. There are many factors that go into the consideration of the value of your wife's case; the best advice I can give you is to wait and consult with an experienced personal injury lawyer of your choice before doing anything further on her case.
Answered on Sep 07th, 2015 at 11:50 AM
David B. Karp Karp & Iancu, S.C. 933 North Mayfair Road #300 Milwaukee, WI 53226 414 453 0800 dbk@karplawfirm.com www.karplawfirm.com