Are Wrongful Death Settlements Taxable?

Losing a loved one prematurely is never an easy thing to cope with. The loss can be even more devastating if it was caused by someone else’s negligence in an accident, such as a motor vehicle accident, construction accident, or motorcycle accident, for example. If you lost a loved one in an accident that resulted from another person’s negligence, carelessness, or recklessness, you might be eligible to pursue a wrongful death claim against the at-fault person or entity.

Generally speaking, wrongful death settlements are not taxable. Therefore, if you receive a lump sum settlement or jury verdict in a wrongful death claim, you will not have to pay federal or state income taxes on that money.

As part of a wrongful death settlement, you might receive various types of compensation. For example, you might be compensated for the medical bills that the decedent incurred up until the time he or she passed away. In addition, you might be compensated for pain and suffering experienced by the decedent during this time period.

Also, as part of a wrongful death claim or lawsuit, you might be able to pursue compensation for all burial and funeral costs, as well as compensation for loss of the deceased individual’s care and companionship. If you or other family members relied upon the decedent’s income, you might be able to recover this loss of future income.

Call an Experienced Wrongful Death Lawyer in Georgia Today

The knowledgeable legal team at The McLendon Law Firm can help you pursue a claim or lawsuit seeking wrongful death damages. For a free case evaluation and legal consultation with a knowledgeable Blakely wrongful death attorney, please give us a call at 877-ROB-WINS or contact us online for more information about how we can help.

[LEARN MORE]: Wrongful Death Statute of Limitations: Here’s What You Need to Know

Wrongful Death FAQ

Who Can Make a Wrongful Death Claim?

The first priority for bringing a Georgia wrongful death claim goes to the surviving spouse and children of the deceased individual.

What if These Individuals are no Longer Living?

Next in line are the surviving parents of the deceased individual.

How Long Do I Have to Bring a Claim?

A claimant usually has two years from the decedent’s death date to file a wrongful death claim or lawsuit.



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