Personal injury awards usually come about in an already challenging and difficult time. As well as you and your family going through a life-changing event, and potentially being dragged through endless court proceedings, you now might find yourself with complicated financial decisions to make. Here are my top five things to consider if you’ve found yourself in this position.
1. Get a professional adviser involved
Do remember that any award may need to last a lifetime. The money needs to be managed effectively and the capital protected – sourcing professional help is a must. The importance of this is exacerbated if you are a deputy acting on behalf of a beneficiary. Ultimately, you have a significant amount of responsibility on your shoulders that you should be offloading to qualified individuals.
With this in mind, it’s important to find an adviser you can trust, who doesn’t lean on jargon and has experience in personal injury settlements. This is likely going to be the first time you’ve dealt with this level of wealth, so you want to be working with someone you can rely on. It’s going to be a long journey so surround yourself with the right team.
