Are wrongful death settlements taxable?
A portion of your wrongful death settlement may be taxable. Since there is no state income tax in Florida, any income taxes you have to pay will be to the federal government, not to the state.
Will I have to report my settlement as income on my federal tax return?
It depends both […]
It is difficult to determine how much your wrongful death claim might be worth. In fact, it is impossible to pinpoint the exact dollar value of any lawsuit. Every injury and case is different. However, there are several factors that can greatly affect the potential value of a wrongful death claim.
Before you settle your lawsuit, […]
When someone is lost to a wrongful or neglectful act, survivors of the decedent may be wondering how they will continue without the love and support of their loved one. Fortunately, Florida law allows surviving loved ones to recover compensation for various damages such as support, services, and lost income in a wrongful death settlement:
Calculating […]
Losing a loved one is heartbreaking, but many families unfortunately face this painful reality of trying to find a way to carry on without the love and companionship of their family member. This difficult situation becomes even more so when you realize you must pay thousands of dollars in funeral expenses. If you have lost […]
When an individual dies due to the neglect or wrongful act of another, the individual’s surviving family members can file a wrongful death for compensation. In the event that the lawsuit is successful, the court must distribute the damages amongst the plaintiffs. The following considers Florida laws regarding the distribution of wrongful death damages in […]
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