Unquestionably, in every wrongful death case in which I have been involved, the money recovered in a settlement or at trial can’t even begin to compensate family members for the loss of a loved one they have endured. Every client would give it all back if there was a way to return their loved one. Which is why, in so many of the wrongful death lawsuits we settle, we help families use some of the settlement money to honor the memory of their lost loved ones in a way that can make a difference in the lives of others. In this way, families are able to provide meaning to what is often a senseless tragedy.
Some families use wrongful death settlements to establish a trust for the benefit of other family members (younger siblings, for example), charitable organizations, schools or other non-profits. Family trusts can be set up for the benefit of one or several family members. These trusts can be tailored to the meet the family’s anticipated needs. For charitable organizations and schools, there are a number of trust options available, in addition to other charitable giving vehicles. In most cases, a charitable trust can bear the name of the loved one. We have financial experts who can work with families to achieve these goals.
Similarly, a scholarship can be set up in the loved one’s name. Fred Pritzker and I recently settled a wrongful death lawsuit for a family whose teenage son died when his snowmobile ran into an illegally parked semi truck. The family used the settlement money to establish a scholarship at the high school their son attended. Every year a scholarship will be given to a graduating senior who is entering college to pursue the course of study their son had planned to pursue.
Families have told us that this kind of giving helps them heal and move on with their lives. If your loved one was killed in an accident, I am available for a free consultation regarding your legal options. To contact me, call 1-888-377-8900 (toll free) or submit our free consultation form. My email is [email protected].
This article was written by attorney Eric Hageman.
Wrongful Death Settlement Information
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