From commencing a personal injury lawsuit until the settlement of the case, injured clients are generally focused on recovering from their injuries and successfully obtaining the compensation that they deserve.
But it is also important to consider life after the personal injury claim has been successfully settled, especially if the client requires guidance in the management of their funds.
Personal injury lawyers should advise their clients when further legal advice should be sought regarding the management of their personal injury settlements to ensure that it is managed effectively for the long term. Similarly, those clients must plan ahead to consider how their settlement funds will be allocated. If managed wisely, the settlement funds will provide the injured victim with support over their lifetime, especially in the case of catastrophic injuries.
It is also important to know that settlement is final, and so plaintiffs should make sure that their settlement accurately quantifies their claim and their ongoing care needs. For this reason, the lawyers at McLeish Orlando fully investigate their clients' claims and obtain expert reports on their medical prognoses.
Money Management
It is important to remember that in personal injury cases, there are often large sums of money involved. These large compensation awards provide financial security for the future, and it is crucial to know that the compensation is going to last. In many cases, personal injury settlements can provide more access to financial compensation than some individuals are comfortable handling on their own, and they may seek guidance.
The compensation from a personal injury settlement is intended to put the injured person back in the position that they would have been in if the accident hadn't happened. This is why it is crucial that the compensation from the personal injury settlement is managed efficiently in order to provide care and support to the injured person for as long as it is required.
Personal injury lawyers understand what life after a serious or catastrophic injury looks like. Injured victims can benefit from guidance and direction from a financial planner on asset management after obtaining a settlement.
Physical Therapy and Rehabilitation
In most cases, a successful personal injury settlement is not the end of the road. The injured person typically has a long road to recovery, including continued medical appointments, physical therapy, and rehabilitation to help them get back to their pre-accident condition as much as possible.
Funds from the settlement should be allocated to cover these expenses and should be managed in a way that ensures that there is enough money to support the injured person for as long as they need rehabilitation and other services to assist with recovery.
Care at Home
The cost of future care expenses can form a large portion of a personal injury settlement. Future care cost expenses depend on the severity and extent of the injured person's injuries. Many injured victims will typically require weeks, months, and even years of further medical assistance, assistive devices, and medical services on their journey to recovery.
Many injured victims will also require the assistance of a personal support worker or rehabilitation support worker to provide care within the comfort of their homes. It is important to effectively manage settlement funds to be able to manage these ongoing expenses.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
