If your child was disabled as a result of a birth injury, then you can organize a special needs trust to care for that loved one in the future. Oftentimes, if you successfully gain a settlement in a birth injury lawsuit, you can put this money into a trust that will later be used to provide for your loved one.
When your child is harmed because of a doctor or nurse’s negligence, it is essential that you seek compensation from the party at fault. This will help to keep the medical staff accountable, and will also help you to cover the medical bills that may be ahead as a result of the injuries. Most children with birth injuries will require years of surgery, nursing care, home modification, medications, special tutoring, special medical equipment and physical therapy. All of these necessities come with a price. If you are not well-off financially, it may seem impossible to prove for your child without going to debt, but a lawsuit can merit the money that is necessary.
How to Protect a Settlement & Continue Receiving Government Benefits
If you achieve a noteworthy settlement in a birth injury lawsuit, then you can sometimes receive that money in structured payments which will stretch into the future for your child’s needs, rather than in one lump sum. The proceeds of a settlement, when placed in a trust, can protect the assets from being spent for other purposes. It can also shield those assets from takes or judgments and can enable the beneficiary to still qualify for government assistance from Medicaid and Social Security Disability Insurance.
If you are considering seeking compensation for a birth injury and want to look into the possibility of arranging a special needs trust, then you need to discuss this with a birth injury lawyer at Arnold & Itkin today. You will want to organize this trust so that you have a guardian who can carry the personal affairs of the trust after your passing and a conservator that can care for the financial aspects of the trust if you should pass away in the future. Whether you are looking to litigate or want to learn how to structure your winnings into a special needs trust, a lawyer at the firm can assist you.
The personal injury attorneys at Arnold & Itkin have recovered billions of dollars in the past few years, and they understand what it takes to provide effective and dedicated litigation in a variety of different personal injury cases. Birth injuries are serious, and if your child has developed an illness such as cerebral palsy, mental disability, hemorrhages, facial paralysis, fractured bones, caput succedaneum, brachial palsy, or another condition then you need to talk to a hardworking litigator at the firm today to seek the finances that you deserve.