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Personal injury settlements and estate plans

We have covered some of the reasons why people make changes to their estate plan, such as bringing their marriage to an end. However, there are many more instances in which a person may need to take a second look at their estate. For example, someone who receives a personal injury settlement may need to change the way in which their property will be distributed and factor in their newfound assets. Moreover, some people decide to set up an estate plan for the first time as a direct result of a personal injury settlement.

In the wake of a personal injury case, someone may be facing a number of challenges. For example, they could still be struggling with physical or emotional pain or they could feel as if they are too stressed out or busy to make changes to their estate plan. However, doing so could provide peace of mind and help ensure that their property is handled according to their wishes in the future. It should also be pointed out that personal injury cases can affect people in other ways. For example, someone who suffered a major injury in a car crash or any other type of accident may not be able to work any longer, which could change their financial circumstances considerably.

If you have recently experienced significant financial changes, or any other major changes in your life that prompt you to revise your estate plan, do not push off this important task. Our website goes over more on revising your estate plan.

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