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Florida Jury Awards Family $25.8M in Wrongful Death Lawsuit Against Walgreen Co.
Associated Press via Fox News.com ^
| August6 18, 2007
Posted on 08/18/2007 10:37:04 AM PDT by Kaslin
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Yeah, but how much is the family getting and how much are the attorneys getting? I would not be surprised if the family is lucky to even get half a million
1
posted on
08/18/2007 10:37:07 AM PDT
by
Kaslin
To: Kaslin
Bootleg humanitarianism is a plague that trial lawyers count on in persuading jurors to award outrageous damages.
To: Kaslin
Yeah, but how much is the family getting and how much are the attorneys getting? I would not be surprised if the family is lucky to even get half a million Oh I am sure the lawyer only gets about 40%, then the family has to pay taxes of 50%. They might see 15-20% if they are lucky of the amount they are rewarded.
To: Always Right
Do you know how much the lawyers would have gotten if they lost the case?
4
posted on
08/18/2007 10:43:46 AM PDT
by
dpa5923
(Small minds talk about people, normal minds talk about events, great minds talk about ideas.)
To: Always Right
I think you are kidding yourself if you think the lawyer only gets 40 percent
5
posted on
08/18/2007 10:44:19 AM PDT
by
Kaslin
(The Surge is working and the li(e)berals know it)
To: Kaslin
That award is over 700 years of income for the average Floridian. And we wonder why everything related to healthcare is so expensive.
6
posted on
08/18/2007 10:46:21 AM PDT
by
CGTRWK
To: shrinkermd
Are you saying that this was a frivolous law suit? In my opinion the family deserved every cent it was awarded
7
posted on
08/18/2007 10:46:27 AM PDT
by
Kaslin
(The Surge is working and the li(e)berals know it)
To: Kaslin
That is just about the most wrongheaded and ignorant statement that has ever been made on FreeRepublic.
Of course, this is just the jury verdict, not the judgment. The judge will apply the "tort reform" caps and limits. By the time that is done, it may well be that the judgment is only $500,000, but that is the fault of people like you, not the judge, jury, family, victim, or their lawyers.
Why on earth would you state that the family would only get half a million if the judgment were $25 million? On what basis could that EVER be true? NEVER!!!!!
A contingent fee agreement is a matter of contract. Why would any family agree to a contract in which they only got $500,000 of a $25 million dollar verdict? Hint: THEY WOULDN'T.
There are also ethical constraints on contingent fee agreements that they be reasonable. I have never heard of a contingent fee agreement that was more than 50%. Most likely, the fee here is 33%.
The envy and covetousness of people like you is destroying our judicial system.
8
posted on
08/18/2007 10:50:08 AM PDT
by
Iwo Jima
("Close the border. Then we'll talk.")
To: dpa5923
Do you know how much the lawyers would have gotten if they lost the case? Most lawyers would not take the case unless it was a slam dunk. They know they are going to get millions on the pain and suffering of others going into the case.
To: dpa5923
Do you know who pays the court costs
10
posted on
08/18/2007 10:50:50 AM PDT
by
StACase
To: Always Right
Oh I am sure the lawyer only gets about 40%, then the family has to pay taxes of 50%. Are you sure this type of award is taxable?
I'm not a lawyer, but I thought it wasn't.
11
posted on
08/18/2007 10:51:28 AM PDT
by
Doe Eyes
To: Kaslin
I think you are kidding yourself if you think the lawyer only gets 40 percent I think 40% is pretty typical. It may be +/-10%, but it is in that range.
To: shrinkermd
Why are these damages outrageous?
You are a doctor. You have seen the effects of hemorrhagic stroke. You know what this woman and her family went through.
Would you subject yourself and your family to that for $25 million? Just how much would you price it at?
13
posted on
08/18/2007 10:52:55 AM PDT
by
Iwo Jima
("Close the border. Then we'll talk.")
To: Always Right
The family will pay little to no taxes because most of the award will be for pain and suffering and that isn’t taxed.
14
posted on
08/18/2007 10:53:32 AM PDT
by
Beagle8U
(FreeRepublic -- One stop shopping ....... Its the Conservative Super Walmart for news .)
To: Always Right
I don’t believe amounts received for wrongful death are considered taxable income.
To: Doe Eyes
I'm not a lawyer, but I thought it wasn't. The government taxes anything. Now the portion that is reimbursing actual expenses is probably not taxable, but I would bet our government would not pass up the opportunity to tax these types of judgements. But I am no expert in this area, just guessing based on the way the government treats other income.
To: Kaslin
“A 19-year-old pharmacy technician, with little training, misfiled the prescription, according to court documents.”
Too many “mis” words nowadays, I guess; the word above should be misfilled, not misfiled.
A search showed that only this version had the AP report with the misspelled word.
17
posted on
08/18/2007 10:54:41 AM PDT
by
Old Professer
(The critic writes with rapier pen, dips it twice, and writes again.)
To: Kaslin
I think that you are ignorant beyond belief if you think that a lawyer gets more than 40%.
Where did you come up with these idiotic ideas of yours?
18
posted on
08/18/2007 10:54:49 AM PDT
by
Iwo Jima
("Close the border. Then we'll talk.")
To: Your Nightmare
I think you are mostly correct, but I think we need more details about the award and state law to make the final determinationn of what is and what is not taxable. I found this on the web explaining the tax consequences.:
unts received for physical personal injuries (including wrongful death) are excludable from taxable income. Punitive damages are taxable income. (Internal Revenue Code Section 104(a)(2).) However, if only punitive damages may be awarded under a state's wrongful death statutes, which were in effect on or before September 13, 1995, the damages are excludable (§ 104(c)).
The CCH Federal Tax Service cites the Conference Committee Report to P.L, 104-188 (1996) H,R. Rep. No. 104-737 in concluding that nonpunitive damages received for wrongful death are excluded from income under Internal Revenue Code Section 104. The clarifying language under § 104(c) and Letter Ruling 200029020 also support this conclusion.
Damages received under a wrongful death statute are excludable from the taxable estate of the deceased person, but amounts that person would have been entitled to during his or her lifetime for pain and suffering or as reimbursement for medical expenses, etc. are includable in the taxable estate. (Revenue Rulings 69-8, 54-19, 75-127, 75-126, 83-44.)
If that doesn't make it clear as mud, nothing will.
To: Always Right
Recovery of things like pain & suffering, mental anguish, physical impairment, and disfigurement are not taxable. This is because you had a normal body/mind to start with and the government doesn't tax you on that -- yet (:-^). If someone takes those things away from you and then has to pay damages for your loss, you haven't "gained" anything.
Recovery on economic damages such as lost wages/wage earning capacity is taxed because you would have been taxed on those sums had they been earned.
20
posted on
08/18/2007 11:02:14 AM PDT
by
Iwo Jima
("Close the border. Then we'll talk.")
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