What is a personal injury trust?

A personal injury trust is an important part of disability planning law in California. It is a trust set up to provide money to an individual who has suffered an injury as the result of someone else’s negligence. The trust is held and managed by a trustee, who is responsible for ensuring that the funds are used only for the needs of the injured party. Basically, the trust is set up to protect the injured person’s funds from the claims of creditors or other claimants. This way, the injured party can be sure his or her money can be used to help cover medical bills, lost wages, and other expenses related to the injury or illness. This type of trust can also be used to cover any future medical expenses. The trust is usually funded with money from a settlement or an award issued by the courts. Funds from the trust are usually released on a periodic basis or in a lump sum depending on the terms of the trust. The trustee is responsible for making sure the funds are used only for the purpose they were intended. Personal injury trusts provide the injured party with an additional level of protection from creditors or other claimants. They also ensure that the injured party has access to funds to help cover their medical bills and any other expenses related to the injury or illness. This type of trust is an important part of disability planning law in California.

Related FAQs

What are SSA's guidelines for evaluating disability claims?
What is a life care plan?
How can I find a disability lawyer?
What is a trusted advisor?
What is an Advanced Medical Directive?
What is a pooled trust?
How does a disability lawyer help me?
What is a guardianship?
How do I apply for a Guardianship?
What is the difference between a revocable living trust and a special needs trust?

What is a personal injury trust?

Related FAQs

Related Blog Posts