Attorney Victor Peña, of Victor Peña Law, PLLC successfully negotiated a lump sum buyout for a claimant who had no luck securing a disability settlement with his former attorneys. This 49-year-old, former employee of a major American media conglomerate had become frustrated dealing with Hartford’s ongoing review after receiving long term disability benefits for over 20 years.
HOW LONG DOES IT TAKE?
The lump sum is usually a single payment, but may also be disbursed in several installments. It can be offered at any stage of the claim because every claim is unique with varying sets of circumstances.
WHICH FACTORS PLAY A VITAL ROLE?
Your age and life expectancy, as well as your financial plans for the future, play crucial roles in whether you should accept the buyout.
HOW DO SETTLEMENTS VARY?
Every situation is different. Buyouts vary in terms of their taxable status, their present value, and how reasonable the offer is in general. It’s never a good idea to make these decisions on your own.