Protecting the Assets of a Birth Injury Child
Special Needs Trusts • Guardianship and Conservatorship
A lawsuit over a birth injury or birth defect seeks damages, in part, for the ongoing care of the child. How can you be sure that an award or settlement will provide for your child for the years and decades ahead?
At Becker & Mishkind Co., L.P.A., we take the time to discuss with clients how to ensure that a physically or mentally challenged child will not be left unprotected. We counsel parents on a variety of strategies and considerations, including establishing a special needs trust to protect proceeds of a financial recovery.
Based in Cleveland, with an office in Elyria, our firm handles birth injury and wrongful birth litigation throughout Ohio. We also advise and co-chair lawsuits in Illinois, Pennsylvania, New York and New Jersey. Call us at 1-800-826-2433 to discuss your concerns. We can help even if you have already settled a birth injury claim.
Structured Settlement
Children with special needs may require surgery, nursing care, physical therapy, home modification, medications, medical equipment and special tutoring. In prosecuting a birth injury lawsuit, we consult with physicians, vocational and physical rehabilitation specialists, economists and other experts to determine the long-range financial needs. In negotiating a settlement or receiving a jury award on behalf of clients, we may advise a structured settlement so that the money is paid out over time, versus a lump sum.
Special Needs Trust
Proceeds of a settlement/award can be placed in trust, with the disabled child the beneficiary. This accomplishes two purposes:
- It protects the assets from being spent for other purposes by other than the intended party, and shields assets from taxes or judgments.
- It potentially enables the beneficiary to still qualify for Social Security disability, Medicaid and other government assistance.
Our attorneys regularly consult with special needs trust attorneys.
Guardianship and Conservatorship
If you should die, your special needs child will be in a vulnerable position, perhaps dependent on other persons. By appointing a guardian with authority over their personal affairs, and a conservator to manage their financial assets, you will have peace of mind that your child will be taken care of by someone you trust. We regularly work with attorneys with expertise in guardianships who can protect the needs of your child.
Contact Becker & Mishkind for both aggressive litigation and careful consideration of what happens after a lawsuit. We can, through skilled co-counsel, establish a special needs trust, and point you to other resources to help you cope with your child's special needs.
