Hi everyone, I have a conundrum that I would like to run past this smart group.
I had to leave work in late 2023 due to a disability. I had STD through my work which paid out and now my work LTD should kick in but I just got a denial letter. I have spoken with an attorney who thinks I will be successful upon appeal but they want 1/3rd of anything that will be paid out retroactively or in the future which is a good chunk so I have to think about this carefully:
1. Since this policy was paid for by my employer, I will have to pay taxes on it. Does anyone know if I will only pay taxes on the 2/3rds I get or do I have to pay taxes on the full amount despite losing 1/3rd of it to the attorney?
2. I am applying for SSDI but unsure of when I might get approved. My LTD will be reduced by the amount of SSDI. Anyone know if the attorney's amount also gets reduced or is it theirs paid on the gross? I suspect this will be attorney specific so I have asked them this question.
3. Has anyone successfully appealed this themselves and won? How did you do it?
4. Is this 1/3rd fee standard? It amounts to over 30K a year so I would prefer to just pay their time and expenses but I don't have that option.
Any thoughts or experiences that someone has on this subject would be useful. Thank you very much!
I had to leave work in late 2023 due to a disability. I had STD through my work which paid out and now my work LTD should kick in but I just got a denial letter. I have spoken with an attorney who thinks I will be successful upon appeal but they want 1/3rd of anything that will be paid out retroactively or in the future which is a good chunk so I have to think about this carefully:
1. Since this policy was paid for by my employer, I will have to pay taxes on it. Does anyone know if I will only pay taxes on the 2/3rds I get or do I have to pay taxes on the full amount despite losing 1/3rd of it to the attorney?
2. I am applying for SSDI but unsure of when I might get approved. My LTD will be reduced by the amount of SSDI. Anyone know if the attorney's amount also gets reduced or is it theirs paid on the gross? I suspect this will be attorney specific so I have asked them this question.
3. Has anyone successfully appealed this themselves and won? How did you do it?
4. Is this 1/3rd fee standard? It amounts to over 30K a year so I would prefer to just pay their time and expenses but I don't have that option.
Any thoughts or experiences that someone has on this subject would be useful. Thank you very much!
Statistics: Posted by notmyhand — Wed Jun 12, 2024 2:58 pm — Replies 3 — Views 243