When Liens are Reduced or Eliminated: Explore Options for the Savings
Structured settlement or periodic payments can be deferred to cover any number of future items such as the replacement of durable medical items.
Tag: Settlement Planning
Structured Settlement Annuities – Great Solution for any Minor’s Settlements
Structured settlement annuities have long been recommended to aid those with catastrophic personal injuries in planning for their future.
Structured Settlements: Maximizing Settlement Dollars in Personal Injury Cases
By: Joanna Wynes, J.D., Partner Planner The primary goal of a plaintiff’s attorney in a personal injury or workers’ compensation action is to achieve the greatest possible financial recovery given the facts and circumstances of the case. Once there is an agreement on the amount to settle the case for the injury victim or workers’ […]
6 Real-World Considerations for Advanced Settlement Planning
Mrs. Smith was moved to the ICU and no neurologic monitoring was performed that evening after being moved from the surgical suite. The next morning, Mrs. Smith was found to be quadriparetic. A suit was brought against multiple defendants with a significant seven-figure recovery secured. Mrs. Smith and her family had Medicaid coverage and SSI. She had also applied for Social Security Disability Income (SSDI). At the time of settlement, there was no Medicare eligibility, since she had not been approved for SSDI and she wasn’t sixty-five.
In the confusing landscape of public benefits and planning issues that arise today for trial lawyers when settling catastrophic injury cases, finding your way can be a daunting task. In the paragraphs that follow, I’ll use Mrs. Smith’s real-world example to identify six key considerations to look out for when you’re settling a case for a catastrophically injured client.