When an individual feels that he/she has been wronged or that his/her medical rights have been violated, the best solution would be to seek the help of best grand rapids lawyers in order to receive a settlement. When it comes to settlements, one of the solutions that are becoming very popular and common these days is 'structured settlements'. There is a lot of information about such settlements on television and the World Wide Web. So, what is a structured settlement in case of a medical malpractice? How can it help? Read on to find out more. A medical malpractice can be defined as professional negligence, either in the form of an omission or an act by a health care provider. In such a case, the treatment provided by the medical practitioner would not be at par with the accepted standard of practice prevailing in the medical community. Due to such a malpractice, the patient can suffer death, serious injuries or adverse medical conditions. Patients who have been wronged by the health care provider have full right to file lawsuits on the negligent health care provider and receive compensation for the same in the form of settlements. In the context of settlements for medical malpractice, there are two kinds of settlements that are offered as solutions: a lump sum settlement and a structured sum settlement. A structured sum settlement can be defined as a settlement wherein the money from the lawsuit is received gradually unlike the lump sum settlement where everything is received all at once. While each of these solutions come with their own sets of pros and cons, a majority of the people favor a structured sum settlement because it enables them to receive money from time to time. This way, they do not have to exercise caution and ensure that the lump sum money lasts them for the period of time during which they will be coping with the illness or medical condition. In order to receive a structured sum settlement, one has to rely on lawyers because these are professionals and they would be aware of the steps that have to be taken in order to win the lawsuit and receive the justified amount of settlement. Going the DIY way is definitely not recommended for medical malpractice claims. Now, there are two kinds of medical malpractice structured settlement, those meant for temporary health conditions and the ones that are meant for permanent health conditions. In case of the former, i.e. temporary conditions, the lifespan of the structured settlement would be the same as the standard or average span of the condition or disease. In case of structured settlements for permanent conditions, the compensation for hospital care and medicine would be provided to the individual in question for the rest of his/her lifetime. Of course this compensation would be segregated into equal installments receivable at fixed intervals. One of the biggest advantages a structured settlement has over a regular settlement is that it allows one to enjoy substantial cash savings on taxes since the rates of taxes applying to different amounts would be different. Moreover, structured settlements sought by the best grand rapids lawyers ensure that the plaintiff would not spend all the money at once but engage in sound financial planning. A trucking accident lawyer will guide you through rules and regulations and defend you in court when needed. For an experienced truck lawyer, visit Holmes & Wiseley, P.C. website at http://www.holmeswiseley.com/
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