for the family title
Personal injury settlements often involve several members of a family whereby the net recovery is allocated between a husband and wife, or a parent and children. In these situations, proper settlement planning is crucial as the unique needs of each family member are important and can impact the family unit as a whole.

Life Changing Events
What does a family do if met with the catastrophic injury or untimely death of a spouse or parent? It is difficult to think about catastrophic injury or death, yet these events do occur and can be financially devastating for a family.

A catastrophic injury can hamper a spouse or parent’s ability to return to work. In cases where the spouse or parent eventually returns to work, they may be forced to take a lower-paying position with reduced hours. For example, a former stay-at-home mom may be forced to work low-paying or unsatisfying jobs with unfavorable hours and pay.
Unfortunately, many families are under the misconception that Medicare, HMO’s, or supplemental insurance will pay forever or at least cover Long Term Care (LTC). There is a sense of shock when their insurance agent tells the family that their benefits have expired, and they now have to pay out of their savings – or in some cases where they may need government assistance, they will be forced to exhaust their funds to qualify for Medicaid.
A child may be disqualified from certain governmental public assistance programs if his or her parent accepts an all-cash lump-sum settlement. Then, the parent faces an even bigger problem when their disqualified child becomes ill. To qualify again, the parent may be forced to exhaust the settlement funds.
The family may experience difficulty paying for their normal health, maintenance, and welfare expenses. They may be unable to pay their mortgage, utilities, loans, medical liens, ongoing health insurance premiums, future college for their children, and other expenses.

Safeguarding the Family with a Plan of Care
To minimize the financial devastation of these catastrophic events and provide a Plan of Care, there are many creative solutions. ROBINYOUNG & COMPANY meets personally to discuss a family’s individual needs, future desires, and immediate expenses, including: debt, medical liens, homestead situation, private insurance or governmental public benefits eligibility, future arrangements for the children’s college, and the parents’ work ability.
ROBINYOUNG & COMPANY collaborates with the finest team of specialists and experts in insurance, estate planning, taxation, trust law, and governmental public benefits to ensure all areas of the plaintiff's life and needs are reviewed and considered.>

A settlement plan that incorporates a financial road map with these vital components and the structured settlement annuity provides the family, as a whole, with safe, guaranteed, tax-free income that can never be taken away, badly invested, or mismanaged. Financial worry and depression are replaced with security and peace of mind.

Learn more by contacting ROBINYOUNG & COMPANY.

  For the Minor >