and its costing us millions. Most people here thinks the local govt has all this money but they fail to realize where it comes from...

https://www.khon2.com/local-news/26m-for-2019-likelike-hwy-tow-truck-crash-victim/

HONOLULU (KHON2) — State taxpayers are on the hook to pay $26 million to a man critically injured by a runaway tow truck on the Likelike Highway.

Legal experts said most of that will likely be used to pay for the man’s lifetime of medical expenses.

In June 2019, a tow truck crashed into 10 cars on the Likelike Highway. According to the lawsuit, the vehicle’s brakes malfunctioned.

Why don't I ever get picked to be a juror on a civil case. Kick stupid lawsuits out of the court

Why don't I ever get picked to be a juror on a civil case. Kick stupid lawsuits out of the court

Maybe its ur day job.

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I wonder how much the victim is actually getting.  After atty fees. His atty did say "most of it will be used for his treatment". Most is 51%+.  I hope he gets to keep 90%+.

I think he's gonna get screwed.  Just an uneducated guess. Atty fees will be for  $5 million. Which now turns the $26 million to $21 million.  Say there is zero inflation for his cost of care, this gives him 21 years of care.  He looks like he's in his 30's.  Say we do factor inflation and now maybe he gets like 16 years of care.  And none of this is punitive damages factored in. 

cool story, bro...

It's not a stupid lawsuit. The state needs to maintain the safety of the roads. By intentionally closing the runaway truck ramp the state created an unsafe condition that contributed to harming a person. Tell your representative to have the state maintain the roads and prevent similar costs in the future. If the ramp was repaired and reopened in a reasonable time $26 million dollars could have been saved. The state was negligent for not taking action in a reasonable time and creating an unsafe condition. They tried to save money by delaying repairs and it ended up costing more than the repair.

I wonder how much the victim is actually getting.  After atty fees. His atty did say "most of it will be used for his treatment". Most is 51%+.  I hope he gets to keep 90%+.

I think he's gonna get screwed.  Just an uneducated guess. Atty fees will be for  $5 million. Which now turns the $26 million to $21 million.  Say there is zero inflation for his cost of care, this gives him 21 years of care.  He looks like he's in his 30's.  Say we do factor inflation and now maybe he gets like 16 years of care.  And none of this is punitive damages factored in.

With a well-diversified and properly-managed investment portfolio, the net proceeds he receives should be enough for him to live off of indefinitely in spite of inflation.

Think about not having a car payment, mortgage payments, or any other debts.  Lodging is normally the largest single expense in most people's budgets.  if he buys a home like a condo with minimum recurring repair and maintenance expenses (just condo fees), he not only reduces his monthly outflow of cash compared to paying rent or mortgage, but the property should be a profitable investment and a source of liquidity if he ever needs to take out an equity loan.

What he gets in the settlement should last his entire life if someone with a little business sense manages it properly.

BTW, most times, attorneys take 1/3 of the money they get for their clients.  The bigger the award, the more they get.  33% of $26M is $8.58M for the lawyer.  That's assuming his legal fees were not reimbursed directly from a separate part of the settlement.  Then the lawyers only get what they billed, and the injured plaintiff gets the full settlement amount.

Also, unlike lottery winnings or other windfall income, he won't have to pay federal or state income taxes on the settlement.  This is money meant to make the injured man "whole" financially -- money he's owed, not earned income.

With a well-diversified and properly-managed investment portfolio, the net proceeds he receives should be enough for him to live off of indefinitely in spite of inflation.

Think about not having a car payment, mortgage payments, or any other debts.  Lodging is normally the largest single expense in most people's budgets.  if he buys a home like a condo with minimum recurring repair and maintenance expenses (just condo fees), he not only reduces his monthly outflow of cash compared to paying rent or mortgage, but the property should be a profitable investment and a source of liquidity if he ever needs to take out an equity loan.

What he gets in the settlement should last his entire life if someone with a little business sense manages it properly.

BTW, most times, attorneys take 1/3 of the money they get for their clients.  The bigger the award, the more they get.  33% of $26M is $8.58M for the lawyer.  That's assuming his legal fees were not reimbursed directly from a separate part of the settlement.  Then the lawyers only get what they billed, and the injured plaintiff gets the full settlement amount.

Also, unlike lottery winnings or other windfall income, he won't have to pay federal or state income taxes on the settlement.  This is money meant to make the injured man "whole" financially -- money he's owed, not earned income.

His atty argued that the cost for just medical and assisted care is $30 million over his lifetime.  I'm going to assume this excludes cost of living, like the stuff you mentioned above like rent/mortgage.  Then add in clothes, food, and any other expenses unrelated to his medical needs.

But I get what you're saying and agree. I hope he puts $10 million in an interest baring account.  Even at a moderate 3% APY, he would be earing $300K a year in interest.  This is more than enough to cover any cost of living.

I remember reading that 1 country provides money for hookers for disabled people. 

His atty argued that the cost for just medical and assisted care is $30 million over his lifetime.  I'm going to assume this excludes cost of living, like the stuff you mentioned above like rent/mortgage.  Then add in clothes, food, and any other expenses unrelated to his medical needs.

But I get what you're saying and agree. I hope he puts $10 million in an interest baring account.  Even at a moderate 3% APY, he would be earing $300K a year in interest.  This is more than enough to cover any cost of living.

I remember reading that 1 country provides money for hookers for disabled people.

His lawyers are calculating worst-case figures for anticipated care.  Over time, that might not be anywhere near the right amount -- either too low OR too high compared to actual.

#1 rule of negotiations:  always ask for more than you'll be willing to take, and offer less than you'll be willing to give.  Somewhere in between is a number both parties can live with.

Curious what his health insurance situation is.  He might be eligible for coverage under a number of programs including Social Security disability payments.