Experiencing a catastrophic injury is an injury that alters your life in physical, emotional, and financial ways. As life takes this unexpected turn, careful financial planning becomes essential for ensuring that a survivor can secure his or her future, including covering all needs to maintain a high quality of life. It is a daunting task, but with the right strategies, meeting all important legal deadlines, and hiring a lawyer, survivors, and families can navigate this situation effectively.
Understanding the Financial Impact of a Catastrophic Injury
Catastrophic injuries frequently lead to an avalanche of unexpected expenses. These costs can go far beyond immediate medical bills and ongoing rehab and also toward adaptive equipment, home modifications, and specialized care. Additionally, the injured person may experience a lengthy period of lost wages or the inability to work at all. Understanding the full scope of financial implications is the first step in creating a robust financial plan.