Money & Finance

Turning Tragedy into Triumph

When a person suffers an injury, it can have devastating consequences on their life, their family and their financial situation.

Helping Lawyers & Clients Transition from Litigation to Life

When a person suffers an injury, it can have devastating consequences on their life, their family and their financial situation. The ability to earn a living can be lost. Sky high medical bills can accumulate in the blink of an eye and credit can be ruined as a result. These same issues can cause the rapid depletion of a personal injury recovery post settlement or verdict. Healthcare liens can be asserted against the settlement monies which have to be resolved compliantly. Injury victims can lose crucial public benefits as a result of the settlement. Traditional money management models and products aren’t designed for injury victims and frequently result in mismanagement or financial loss.

“Meaghan’s story” is an excellent example of an individual successfully transitioning from litigation into life after Meaghan Jones* was rendered quadriplegic as a result of an automobile accident. Prior to the accident, Meghan had just begun her journey into a career in the arts. She was regularly performing as a hostess/singer at a local comedy club and was pursuing a full-time career in singing and acting. Right before the accident, she had been placed on a short list for acceptance to Julliard, one of the most prestigious performing arts schools in the country.

 

The Many Facets of Recovery

Our company first became involved with Meaghan as she neared the close of the litigation resulting from her accident. Her dedicated trial attorneys requested assistance as the settlement created some unique concerns that needed to be addressed. Issues like public benefits preservation and healthcare lien resolution. Synergy’s Settlement Asset Management Special Needs Trust was the perfect financial/public benefit solution in her case.  Not only is the trust set up in a fashion that protects needs-based benefits, it also provides a combination of income and growth that will help with her immediate living expenses as well as long-term needs.

Meaghan continues to work closely with our team since the resolution of her case. Never one to shy from a challenge, she has enjoyed learning about finance and investing as well as being involved in the planning process for her future. Additionally, our lien resolution department has been working with Meghan and her trial attorneys on resolving the outstanding Medicaid lien asserted at the close of litigation. This significant part of maximizing her settlement is not only providing sound financial advice, but also ensuring that all outstanding healthcare liens are reduced and resolved as well. This comprehensive approach has been helpful in achieving these goals and we consider ourselves lucky to work with clients like Meaghan every day as they transition from litigation into life.

After an injury, rehabilitation is only one facet of the road to recovery. Ensuring the client’s financial future and ongoing medical care is secured can be as important to their vital mental and emotional recovery, as doctors and therapists are to their physical condition. Like qualified and experienced trial lawyers are essential to achieving an equitable verdict, so consulting with settlement specialists is essential to the long-term success of any personal injury litigation.

*Client name has been changed to protect privacy.

 

Jason Lazarus_bwJason D. Lazarus, J.D., LL.M., MSCC, CSSC is the CEO of Synergy Settlement Services. Visit www.synergysettlements.com to learn more or contact him at 877-242-0022.

 

 

 

About the author

i4 Business

i4 Business

I4 Business magazine has become one of the most trusted voices for and about the Central Florida business community. Each month through our print and digital platforms, we provide access to meet, to learn from and to learn about some of the incredible entrepreneurs and business leaders, along with economic trends that are shaping our region.

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