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Financing the Future

Managing Disability Related Expenses

Along with the emotional and physical challenges that lie ahead, your finances will be an ongoing concern. The cost of health care and other disability-related expenses is extremely high, and you will need to have a clear plan for managing your personal finances.

Settlement Considerations

Many people who receive large settlements are faced with the choice of whether to take their awards in the form of a lump sum or a structured settlement over a period of time. This is an important decision that can have a substantial effect on you and your families long-term financial well-being.

Structured settlements can provide a steady long-term income that is often tax-free and includes cost of living adjustments. Such a settlement can ensure financial security for persons who feel that a lump sum may "burn a whole in their pocket." On the other hand, a structured settlement may not be worth as much in the long-term as a well invested lump sum award, and payments may be in jeopardy if the disbursing party becomes insolvent.

A properly invested lump sum award can bring financial benefits above and beyond. the amount of the original settlement. Yet with all investments there is some degree of risk, so settlements should be invested conservatively, and with professional financial guidance. In addition, trusts can be set up to protect loss of Medicaid, SSI benefits, and other benefits through the expertise of the professionals associated with FAIP.

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