Punitive damages are awarded only if the defendant’s conduct is deemed as malicious or in reckless disregard of rights.
Conduct deemed as malicious is accompanied by ill will, spite, or for the purpose of injuring another party. With that being said, punitive damages are only awarded in special cases where compensatory damages are considered to be insufficient. They are awarded by the court as a means to prevent under-compensation, as a way to compensate for undetectable wrongful acts, and/or for taking a strain away from the criminal justice system.
Rate of Return
Important To Know
Because they are paid in excess of the plaintiff’s compensation, the plaintiff has the burden of proving that punitive damages should be awarded by a preponderance of the evidence. “Preponderance of the evidence” is also known as the burden of proof, in which the plaintiff must shift the accepted conclusion away from an opposing opinion to his/her own.
For the benefit and protection of the claimant, we help ensure that the settlement will distinctly allocate funds between taxable (punitive) and nontaxable (compensatory) damages.
This is why it is of vast importance to work with professionals who specialize in Structured Settlements, as we do at Vega Settlement Group.
Take the next step.
We specialize in offering our clients the confidence that only long-term planning can provide.