What happens if I pass away?

Frequently in workers compensation and liability settlements there is a provision in the settlement agreement that governs the person(s) or entity(ies) (the “beneficiary(ies)”) that will receive what remains of the medical settlement funds in an administered account upon the death of the injured person. The parties to the settlement on both the plaintiff and defense side may negotiate this provision and place certain stipulations on how the remaining funds are disbursed. Upon death of the account holder, Ametros reviews these terms in the settlement agreement and disburses funds to the beneficiary(ies) that are named. If there is no beneficiary named, the funds will pass on to the account holder’s estate or according to their will. If there is no beneficiary(ies) named in the settlement agreement, nor an estate plan or will, the member can fill out a beneficiary form with Ametros. For clarity, any instructions in the executed settlement agreement always take priority in governing the disbursement. Regardless of the beneficiary(ies), Ametros does not charge an account closing fee or retain any of the remaining funds in the account.