Welcome and thank you for joining me. I am Gerry Oginski a New York Medical Malpractice and Accident Attorney practicing law here in the State of New York. Today's video tip is about money and if a Jury makes an award to you for your injuries whether it's an accident case, whether it's a medical malpractice case, can you get all of your money in one lump sump? The answer is no. When a jury has rendered a verdict and the verdict is a large one, let's say it's a million dollar verdict, you will not be allowed to receive your entire million dollars in one lump sump. You will be able to get after attorney's fees and after attorney's expenses. The amount that's remaining you would be allowed to receive the first $250,000 in one lump sump as cash.
The remaining amount of money that you will be entitled to receive will be paid out over a period of time, that's called the annuity, and that's it for today's video tip. Thank you for joining me. I am Gerry Oginski, have a great day.
Transcription by:
Scribe4you Transcription Services