You may have heard the term “personal injury trust” before but not really understood what it meant. A personal injury trust is simply a legal entity that is set up to hold funds for someone who has suffered a personal injury in Brandon, FL. The purpose of a personal injury trust is to make sure that the injured person has enough money to cover their medical expenses and any other costs associated with their accident.
There are many different types of personal injury trusts, but they all have one thing in common: they are designed to protect the injured person’s finances. For example, if you are in a car accident, and you have a personal injury trust, the funds in the trust can be used to pay for your medical bills. The trust can also be used to pay for your lost wages if you miss work because of your injuries. To put it in the most basic terms, a personal injury trust holds money dedicated to pay for expenses incurred as a result of your personal injury in Brandon, FL.
Personal injury trusts are becoming more and more popular in Florida. This is because Florida is a “no-fault” state, which means that each driver is responsible for their own damages after an accident, regardless of who was at fault. This can make it very difficult to get compensated for personal injury in Brandon, FL, if you do not have insurance.
Before you suffer a personal injury in Brandon, FL, a personal injury trust can be a great way to make sure that you have enough money to cover your medical expenses and other costs associated with your accident. If you are considering setting up a personal injury trust, talk to an attorney about whether or not a personal injury trust is right for you.