A reader asked what happens when he settles his personal injury claim.
Let me explain the process. First, you must sign a release. You know that from reading my blog.
Second, your attorney may want you to sign a power of attorney so he/she can deposit the check from the insurance company. The check comes as a two party check made out to you and your attorney. The attorney wants to speed up the process by having you sign a power of attorney. It is up to you if you do it. Some attorneys ask you to do it, and some do not. It depends on your situation. I have done it when a client is out of state or out of the country. However, I prefer to have the client sign the check.
Once the check is deposited, your attorney should have you sign a disbursement sheet that tells you where every cent of the settlement is going. After the disbursement sheet is signed and approximately seven days after the check is deposited, you should receive your money. Why the delay? We have to make sure the check from the insurance company clears first!!