How to Tackle Financial Planning After a Major Injury

No matter how much care you take, life can change in an instant. If you suffer a serious injury, you will need to find a source of income or make plans to keep your financial house in order. Your initial care and long-term financial security planning may require you to seek help.

Paying for Immediate Care

Your health insurance may cover your medical bills, but it won’t put money in the bank or help you deal with your finances. Depending on the source of your injury, you may need to consult with an attorney to seek a long-term settlement to compensate for your injuries and the modifications you will need to move forward with your life. It’s critical that you focus on your own healing and well-being. Working with a professional who’s accustomed to dealing with insurance companies can take a lot of the burden off you and your family.

Planning for Long-Term Care

Depending on your limitations after the injury, rehab may include long-term care. To get home as soon as possible, you may need to hire a contractor to make caring for yourself at home easier. Living with a lasting injury might mean you need to make modifications to your current home design. For example, you will probably need an access ramp at the front of your home. In addition, access to the shower and your bed will likely need to be enhanced or expanded. Finally, you may need a new vehicle or modifications made to your current car.

Redesign Your Life With Help

Any severe accident will likely leave you dealing with a concussion or some form of traumatic brain injury. These injuries can make it hard to concentrate. You may lose the ability to remember things, or you may struggle to manage your finances. Many who suffer brain injuries find comfort in working with a financial adviser or trustee. Your support team will help you to manage your budget, keep your basic bills paid and set up a budget. If you need to seek some sort of disability payment, these funds will come in on a monthly basis. Oftentimes, brain injury sufferers just need someone to split their funds into a weekly budget, which they can manage on their own.

Major injuries can be life-changing, but there is help available. By working with an attorney who knows the ins and outs of the insurance world, you can seek a settlement. By finding a contractor who can change your home for your new needs, you can build your new life in a familiar setting. By hiring a trustee to help you manage your income, you can structure your financial life with confidence.

If you need help managing your finances, schedule a consultation with us so we can figure out the best solution for you!

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