If you’re negotiating with the other party’s insurance company, a settlement will typically be paid out in the form of a check. In most cases, this check will go to your attorney first.
Your attorney will take their percentage, deduct any applicable legal fees and expenses, and then forward the appropriate remaining amount to you.
After receiving a settlement, you’ll sign a release that absolves the defendant and their insurance company from any additional liability. This is why you should think long and hard about accepting a “final payment” from an insurance company.