After getting a personal injury settlement, you’ll pay the costs, attorney’s fees, and medical expenses. After paying those items you may still have funds leftover. You have to decide the best way to spend or save your settlement.
What to do With Money From Your Personal Injury Case
- Invest your settlement in a low-cost index fund.
- Pay down or eliminate debt, which is just like giving yourself a raise.
- Create your will or estate plan as a gift to your family.
- Enjoy a family vacation.
- Start a business to multiply your money.
- Put a down payment on a home.
- Create a Living Trust to ensure financial security for your kids, grand-kids, and future generations.
There are many ways you could use funds recovered in your personal injury settlement. Among the best ways are those that ensure financial security by paying down debt or saving for the future. But you may also want to take that long awaited trip for some quality bonding time with your spouse or whole family. However you spend it, it is wise to use it in a way that will make you feel safe and secure. This is the express purpose of a claim for “pain and suffering” — that you are entitled to do something good to help make up for all the bad things you went through with your accident.
If we can help with your personal injury claim or other legal challenges, please contact us.
