In Georgia, most settlement checks cannot be deposited directly by the plaintiff. These checks are usually made payable to both the client and their attorney, and must be deposited into the lawyer’s trust account. From there, attorney’s fees, court costs, and liens are deducted before the client receives their portion. This process ensures compliance with state bar rules and lien obligations. For background, see the State Bar of Georgia Handbook.
Why Attorneys Must Deposit Settlement Checks
- Checks are often made payable to both the client and lawyer of record.
- Ethics rules require lawyers to deposit settlement funds into a trust account.
- This ensures all liens, medical bills, and court costs are satisfied before client distribution.
How Long Until You Receive Funds
- Banks may place a hold until the check clears, which can take several business days.
- Lawyers must first resolve liens and deduct fees before issuing payment.
- Clients usually receive funds within 2–6 weeks, depending on lien complexity.
What Happens If You Try to Deposit It Yourself
- If the check lists both your name and your lawyer’s, the bank will not accept it without both endorsements.
- Depositing into a personal account without satisfying liens can violate legal obligations.
- Always consult your attorney before attempting to deposit or cash a settlement check.
Where to deposit your settlement check is the least of your worries. You need to focus on getting the most accurate and reliable settlement for your case and claim. And that is where picking the right attorney will be critical in this process. It would be advisable if you had a law firm with attorneys versed in many different types of personal injury settlements for their clients. When you call our law firm, you will be on the winning team, and we are here to answer any questions you might have regarding settlement packages. Read on for more information on what to do at all stages of settling your case.
Insurance Companies Settle Insurance Claims Every Day
It is a myth that insurance companies do not want to settle insurance claims. We are here to dispel this myth right now. Insurance companies do settle insurance claims, and they settle them every weekday. They are extremely happy to settle out your insurance claim when you have claimed damages against their negligent, careless, or reckless insured. Now, let’s ask the question: to whose advantage will the settlement claim be settled out? The answer is: not to your advantage!
Insurance companies are full of insurance agents who are overworked and underpaid. They want to get rid of the mile-high pile of insurance claims on their desk so that they can take the full weekend off and go to the beach. But can they ever relax? Are they not going to be yelled at by their boss today? There is no chance that they will get to relax today or any other day. This is because their supervisors and bosses have a never-ending chain of claims, claims, and more claims that need to be settled. Well, what does this have to do with your settlement check? The answer is that it has everything to do with your settlement check. Hear us out on this one.
The Settlement Check Is the Last Word on the Accident
When you have a loss or personal injury and have an at-fault party, the insurance company for that at fault or negligent party needs to come up with a settlement package to settle the claim with you. You will be better off calling our law firm to help you settle your claim because we do this every day of the week. We are highly experienced, and personal injury claims are our specialty.
The settlement check that is negotiated with the insurance company is meant to reimburse you for your total losses and damages, as well as personal injuries incurred in the accident you had with the negligent insured. You need to understand how important it is to ensure you have everything put into the settlement package, as you won’t get another chance at this settlement business. You need to give your attorney the information regarding your injuries, medical bills, future medical bills, lost wages, future expected loss wages, future surgeries, medications, and everything that will happen in the future to you related to this loss. Some of it can be extrapolated out based on your diagnosis and the seriousness of the claim and case. You will not get a second chance to do this negotiation. Your settlement check is meant to last you for years to come to pay for your bills, expenses, and lost wages based on your personal injuries incurred as a result of the accident.
If you are working with an attorney who is unprepared to negotiate all of your expenses that could come up in the future, you will be cheated out of a full settlement. For example, suppose you are working with an attorney who is a friend of your coworker’s brother-in-law, who went to a very good law school, but who is more interested in traveling the world than actively advocating for his clients. Or, suppose you are working with an attorney who genuinely means well, demonstrates strong integrity, but has never negotiated a personal injury settlement before. In these situations, you may not be receiving proper care.
You need to call our law office to work with experienced Georgia personal injury attorneys who are ready to assist you in getting the total compensation and settlement package that you deserve under the circumstances of your case. You will want to be able to deposit a full settlement check that will be able to pay for your accident-related medical bills and expenses for many years to come.
Depositing Your Settlement Check Is Easy
You will be getting a settlement check at the end of your negotiations for your accident and losses. You will be free to deposit that settlement check anywhere that you choose. If the check is a large sum of money, you can speak to a personal financial planner to decide how you want to disburse the check to yourself. For example, a financial planner can help you to deposit a large settlement check into a trust, a money market fund, a savings account, an annuity that pays you money over time, or into a spendthrift trust or estate trust for someone else’s benefit if money is left over at your death.
These are critical decisions that you need to make once you receive your settlement check. You have plenty of time to make those decisions once your claim is settled and the check is given to you. You have the chance to do whatever you need to do to ensure that your future medical bills and expenses will be paid for from the money given to you in the settlement check.
The CEO Lawyer Personal Injury Law Firm
We are here for you and know what to do to get you the money you deserve in this type of situation, such as depositing your settlement check. Your settlement check is the last chance you have to settle your claim and case with the at-fault party’s insurance company. Our injury and accident attorneys understand that you are bound to have questions about this process, and we are here to help. Just call us at (470) 323-8779. We are ready to help you get back the money you deserve when you are personally injured in these cases. So call us today for a free consultation. We are here for you every step of the way.
FAQs
Can I deposit my settlement check directly into my account?
Not usually. Most settlement checks are made out to both you and your attorney, requiring deposit into a lawyer’s trust account first.
How long does it take for a settlement check to clear?
It can take 2–6 weeks depending on bank holds, attorney processing, and lien resolution.
Why does my attorney have to handle the check?
State Bar rules require attorneys to manage settlement funds in trust accounts to ensure all liens and fees are properly handled.
