Our team at Kaine Law understands the strain your family feels after the loss of a loved one in Georgia. If the actions of another person led to the loss of your family member, you may have the chance to file a wrongful death claim.
How are wrongful death settlements paid out? Generally, these payments come from an insurance company. They go to members of your family based on the laws in Georgia and your relation to the loved one you lost.
How Georgia Pays Out Wrongful Death Settlements
Understanding how Georgia pays out wrongful death settlements can take away some of the confusion you feel after the loss of a loved one. Generally, insurance companies assess the relation of all members of your family to the deceased.
For example, if your loved one had:
- A spouse but no children, their spouse receives 100% of the wrongful death settlement
- A spouse and children, the spouse receives 33% of the settlement, with the rest split between the children
- Children but no spouse, the children evenly split the settlement
- Parents but no spouse or children, the parents split the compensation 50/50
If your loved one had no surviving spouse, parents, or children, the settlement gets divided between the rest of their surviving relations. You may speak with a wrongful death lawyer in Georgia to learn more about the specifics in your case.
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Is a Settlement for a Wrongful Death Claim Taxable in Georgia?
According to IRS Rule 1.104-1, the government cannot tax settlements for wrongful death claims. These settlements avoid taxation due to their classification.
They are part of claims resulting from physical illness or personal injuries, giving them this exemption. If you have further questions about tax laws surrounding wrongful death claims, reach out to a wrongful death attorney in Georgia.
What Types of Wrongful Death Claims Does Georgia Offer?
The state of Georgia actually has two different types of wrongful death claims. Both claims get paid out the same way. You may consider securing legal help if you want to file a(n):
Full Value of Life Claim
These claims cover the lost support and companionship your family experiences after the loss of a loved one. This kind of claim covers lost financial assistance, insurance, or inheritance. It may also cover emotional losses and loss of consortium.
You may also file an estate claim in Georgia after the loss of a loved one. These claims act specifically as a method to seek compensation for your loved one’s:
- Funeral or burial expenses
- Medical expenses
- Pain and suffering
A wrongful death lawyer serving Georgia can help you understand the differences between an estate claim and a full value of life claim. Your lawyer can also help you file both of these claims, if you have the legal right under Georgia law.
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How Much Can You Get Through a Wrongful Death Settlement?
The amount of compensation you receive through a wrongful death settlement in Georgia varies upon the situations surrounding the claim. Lawyers and insurance companies may look at the costs associated with your family member’s accident, medical treatment, and funeral.
You can speak with a lawyer to get more exact information about a possible settlement for your family.
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How Long Do You Have to File a Wrongful Death Claim?
You have a limited time to file a wrongful death claim in the state of Georgia. Under O.C.G.A. § 9-3-33, you only have two years to move forward with this kind of legal action. After this period of time, the statute of limitations expires for your family.
A wrongful death attorney in Georgia can help you stay up to date about any deadlines associated with your claim. Keep in mind that in some cases Georgia further restricts the amount of time you have to move forward legally after a wrongful death accident.
How Do You Pay Georgia Wrongful Death Lawyers?
In many cases, wrongful death lawyers in Georgia work on a contingency basis, meaning they only receive payment for their legal services after they resolve a client’s case. Their payments generally come directly out of the compensation your family receives.
Lawyers do not all charge the same amount for their services. You may question the legal firm you want to handle your case about the percentage they charge on a contingency basis. Keep in mind that some lawyers use different forms of payment when assisting their clients.
Speak to a Lawyer About Georgia Wrongful Death Settlements
You have legal options following the loss of a loved one in Georgia. Find out how wrongful death settlements are paid out and learn more about these settlements with our team at Kaine Law. You may reach out to us online to learn more.