The Most Lucrative Personal Injury Lawsuits In History

Personal injury lawsuits often lead to some of the largest settlements in the legal industry. Lawyers are always looking for a person that they can represent where a substantial settlement can be obtained. Although they are looking out for the best interest of the clients that they work with, they are also very excited when they can find one that will produce a substantial return. Here are a few of the top personal injury lawsuit in history, and how much was actually generated once the lawsuit was completed, according to a personal injury lawyer Albany.

The Top Three Personal Injury Lawsuit Settlements

The first one involved attorney Paul E Godlewski and a 19-year-old who ended up with brain injuries in Minnesota. It was a major product liability case, one that went to the Supreme Court. Although the original settlement was over $15 million, it was reduced to just over $8 million.

The second involved attorney Peter W Riley and was about an automobile accident which left a 16-year-old with a severe spinal cord injury. This was actually a settlement, not a jury verdict, and led to a $12 million settlement.

Finally, attorney James S Ballantine represented another 16-year-old that suffered from a traumatic brain injury, one that was caused by a golf ball. This incident happened at the school where the teenage girl was attending, and it was determined that the school was liable because they did not provide a safe class environment. This settlement was for $10 million.

Other Notable Cases

There are several settlements that were extremely high, two of which were actually handled by the same lawyer. An attorney by the name of John C. Goetz took on two different cases involving a car accident and a grain elevator explosion. Both of these cases generated settlements of $9 million, each involving young men that suffered greatly.

In every personal injury lawsuit, there is always a victim that suffers, and it is good to know that their families, or even the victims, can receive some type of compensation for what has happened.

How To Protect Your Business From Personal Injury Lawsuits

If you have a business where people are coming into your establishment on a regular basis, there is always the possibility that one of them may try to sue you. The reason for suing can be wide ranging from slip and fall accidents to being injured by products that you sell. There are ways to protect your company, and yourself, from personal injury lawsuits that can occur at any time. Here are the tips that you need to use in order to protect your business from a personal injury lawsuit that could devastate your business, according to a personal injury lawyer Los Angeles.

Form An LLC

A person suing your company in a tort lawsuit will not be able to touch any of your assets if they are not capable of suing you. If your business has formed an LLC, this means that you will not be responsible for any settlements that will come out of your personal assets. This way of incorporating can be done in all states, though it may differ from location to location. You need to work with a lawyer that specializes in forming LLCs and do this as soon as possible.

Safety First

One of the most common reasons that people are sued by a patron of their business is because of a slip and fall accident. Although you can be sued because of products that you sell which they deemed to be dangerous, it is much more common for people to claim that they were injured at your place of business. You need to have ways of showing that you are maintaining safety levels at your facility. This could be logs of people doing sweeps, mopping, and other forms of documenting the fact that you are keeping everything as safe as possible. It’s also a good idea to have cameras at your place of business so as to film people that might lie about what has happened to them. By installing cameras, maintaining sweep logs, and also forming an LLC, you should have a much easier time defending against those that would try to take your personal assets or compromise your business through unwanted litigation.

Cost Benefit Analysis And The Law

Cost Benefit Analysis (CBA) is the way an economist approaches a situation by determining the strength and weaknesses of alternatives with the ultimate goal of determining the option that provides the best way to get benefits while also persevering savings. This theory has evolved to help form US Policy and judicial decisions. There have been several public policies that have used CBA to help create policies regarding mental illness, college education, and chemical waste policies.

However, CBA does come with a few criticisms:
1) CBA could be used for political goals rather than the good of the people
2) It’s inherently anti-regulatory – the monetization of policy is inappropriate
3) The longer it takes to complete CBA impeded policy regulations

Judge Posner talks about how Cost Benefit Analysis is used in helping interpret the law when it comes to making decisions on cases. But his opinion is that most decisions cannot be made by simply applying a formula but come from a place of your own experience and temperament.

How Do You Choose An Executor Of Your Estate?

Have you ever thought about helping your future with an estate plan? Choosing an executor of your estate doesn’t have to be stressful and overwhelming after all. In fact, an executor is an individual named in your will or appointed by the court. He or she is given legal responsibilities to take care of the remaining financial obligations such as:

. Maintaining the property until the estate is settled.
. Paying relevant taxes on the estate
. Distributing the assets according to the will
. Appearing in court on behalf of the estate
. Paying any bills for the estate.

The finances to handle these duties come from the estate itself. On the other hand, if the will is complex and requires significant court time, the executor can hire a qualified attorney to handle the tasks. That is also at the expense of the estate. Although anyone can act as an executor of an estate, there are some restrictions to this clause at times. Most of the time, spouses, children, and siblings can act as executors of an estate. An executor should be honest, organized and an effective communicator. In fact, distribution of the will can become a mess if the executor lacks any of these qualities.

You should carefully consider the impacts of your decision when choosing an executor of your estate. In fact, family dynamics can play an important part when choosing the executor. The location of the executor is also important when naming the executor of your estate. He or she may have to appear before the court on a regular basis, maintain the property, check email, and perform many other tasks relating to the estate. Hence, he or she should live closer to your estate. In fact, it is helpful to select a person who stands to inherit a significant amount of the property under your estate plan. Self-interest will ensure that the individual take care of the property and maintain it properly. It is important that the person consents to act as an executor of your will and know where the documents are kept.

It is helpful to name alternative executors if the named executor declines the responsibility later on. If you don’t name an alternative executor and the named individual declines the responsibility, the court will name an alternative executor later on. The executor should be more than 18 years of age and not be a felon. Some states restrict the executor from being an out-of-state executor. Hence, you need to check the law in your particular state when naming an executor of your estate.