Hi, I’m John Medler, personal injury lawyer with The Medler Law Firm – Personal Injury & Accident Attorneys. Today I’d like to talk about what happens on settlement day. On settlement day, the insurance adjuster will send a check to your lawyer. That check will be made payable to you and your lawyer. And then what happens is both you and your lawyer must sign that check on the back. Then your lawyer takes the check with both of your signatures down to his own bank and that lawyer will have what’s called a ‘lawyer’s trust account.’ The check has been deposited into the lawyer’s trust account and sits there until the funds cleared (usually in a day or two).
Once that happens, the lawyer’s trust account check book then cuts a check to the lawyer for his share, to any people that hold liens for their share, and to you for your share. Your lawyer will then send you the check, which you then deposit into your bank. Again, you’ll have to wait for that to clear. All this process takes about a week once the check comes. So when we say settlement day, it’s really about a settlement week.
If you have any more questions about personal injury, check out our website at www.MedlerLawFirm.com or give us a call at The Medler Law Firm – Personal Injury & Accident Attorneys and speak to our Orange County injury lawyer. Consultations are always free!