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  1. #1
    Join Date
    May 2014

    Default Death Beefits Claim Settlement

    I am interested in getting information from an informed person involved in litigation of death settlements from workers comp. MY father was killed as a worker at a utah mine. Rio TInto now buying this mine is looking to clear there books of this monthly disbursement to my mother. I am wondering what if any economist involved would consider as crucial info in determining the value of this settlement. I have currently hired a local attorney but am in limbo for a few more days or weeks with my mother and it would be nice to have any if an educated person could give in this regard.

  2. #2
    Join Date
    Feb 2007
    831 East Morehead St., Ste 355, Charlotte, NC 28202

    Default Re: Death Beefits Claim Settled (Inprocess)

    You don't "litigate" a settlement. You negotiate a settlement. "Litigate" means to go to court and seek a court decision. Typically, a situation like this one will depend on the "present value" of the stream of future income represented by those payments.

    I would be reluctant to spend money hiring an economist; you can calculate "present value" online or with a $35 calculator bought from an office supply store. You do need to know the amount of the payments and the number of payments yet to come in order to calculate it, and you need to know what discount rate to use. The lawyer should be on top of this. Keep in mind that "settlement" involves compromise, so if the Present Value is, say, $150,000, then the mine will want you guys to discount it some more for them. They have little incentive to pay the full present value in a settlement.
    The North Carolina Court of Appeals has held that "In contested Workers' Compensation cases today, access to competent legal counsel is a virtual necessity." Church v. Baxter Travenol Labs, Inc., and American Motorists Insurance Company, 104 N.C. App. 411, 416 (1991).

    Bob Bollinger, Attorney and Board Certified Specialist in NC Workers' Compensation Law

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