Exposing Common Misconceptions About Personal Injury Cases
Personal injury cases are one of the most common disputes that people will hire an attorney to address. Unfortunately, these cases can be extremely confusing for the people involved in them. Not surprisingly, this confusion makes it likely that you may believe that a couple of common misconceptions about these cases. By clearing the confusion surrounding the following two myths, you will be better prepared for the process of going through these legal cases.
Myth: You Need To Settle As Soon As Possible To Pay Your Medical Costs
It is no secret that you will likely be facing high medical bills following your accident. This is particularly true for those that will require continuing treatment or extended hospitalization. Sadly, there are some people that think they need to settle as soon as possible to pay for this type of care, but this is not actually the case.
An attorney, like Frank L. Slaughter Jr. PC, will be able to delay your payment of these treatment costs until after the case has been settled. In fact, most attorneys will wait to accept a settlement until your treatments have concluded or you have healed as much as possible. This is because there is no other way to accurately know what the costs of your recovery will be, and if you accept a settlement before your have fully recovered, you may find that you are liable for any other care costs that occur later.
Myth: You Will Have Access To Your Child's Settlement Money
When an accident involves a child, it is important for their parents to understand how any compensation awarded will be handled. There are some parents that assume they will be responsible for managing and controlling the money that is awarded. However, this is not actually the case. The courts will establish a trust account that will be managed on behalf of the child until they are of legal age.
This may seem inconvenient, but it is designed to protect child accident victims from careless or unethical parents. While the money is held in the trust account, it will usually be managed by a professional financial planner to help it earn a return.
Being involved in an accident that results in serious injury can have dire consequences, but many people are poorly informed about what to expect when pursuing these claims. Knowing the importance of waiting until your treatment is concluded to accept a settlement and how your child's settlement money will be managed should help you to feel less stressed as you will have a better understanding of what to expect.