Sustaining a traumatic brain injury can lead to major setbacks, both in the short term and over a longer period of time. Brain injuries can be incredibly expensive. The financial costs include medical bills as well as lost income and possible in-home care, if that is necessary. While a lawsuit or insurance claim can provide essential financial resources for brain injury victims and their families, this money must last them their entire lives. It is crucial to form a solid financial plan after sustaining a severe brain injury in an effort to make sure that you have the money necessary to last over the short and long term.
Working to Plan Your Finances After a Brain Injury
Recovering money for you is not the end of our job at Walkup. We help our clients locate settlement specialists who can assist with financial planning and conservative investment and trust options. In some cases, special needs trusts and lifetime annuity payments may be utilized to maximize safety and security.
Short-term brain injury costs
When we examine the short-term costs associated with a brain injury, we have to closely monitor the following:
- Emergency medical expenses
- Hospital stays
- Any surgical and therapy
- Cognitive rehabilitation
- Lost wages while recovering
- Housing modifications
Long-term brain injury costs
The totality of long-term costs after a brain injury will vary widely depending on the particular situation. If an individual is able to make a relatively quick recovery, there may not be long-term costs. However, for those who sustain moderate to severe traumatic brain injuries, there may be significant long-term expenses, including:
- Extended therapy and rehabilitation
- Skilled nursing or assisted living facilities
- Uninsured in-home care
- Prescription medications
- The long-term lost wages, benefits, and pensions
- Continued out-of-pocket costs for family members
An Attorney Can Help
The short and long-term costs of a traumatic brain injury can be staggering. If your loved one has suffered a serious injury, an experienced Sacramento brain injury attorney can help. At Walkup, Melodia, Kelly & Schoenberger, we can help. Call today for a free case evaluation.