Everyday life can suddenly be disrupted by an unexpected crisis. When something bad happens, you want to be ready to handle the situation as quickly and efficiently as possible. Plan for personal emergencies that can happen without notice to minimize their impact on your life.
Loss of Employment
If you are temporarily suspended, laid off, or fired from your job unexpectedly, you may be entitled to compensation from various sources. Having to miss work due to a job-related injury could make you eligible for workers compensation. Being suspended without warning or an opportunity to address employer concerns can often be handled through arbitration or mediation. An abrupt firing may entitle you to file for unemployment benefits. Consult an expert about your experience to discuss options.
A divorce impacts not only the spouses but also any children they have, and it often divides a household. Talk to a family counselor or a legal expert for advice on how to resolve the issues surrounding the marriage dissolution. When couples work out the division of assets and child custody arrangements amicably, the court is less intrusive, and the process is less costly. The proceedings can go more smoothly for everyone. Try to work out an agreement that respectfully addresses the preferences and needs of both spouses.
A catastrophic illness with effects that last months or years can wipe out a savings account and other financial holdings of an individual or a family. Loss of income and inadequate medical or hospitalization insurance can deplete your financial resources. Review your health insurance before a serious illness or injury occurs to see if it needs to be changed or expanded before a disabling event occurs. You might also want to invest in long-term care insurance as well as a stock portfolio or additional income to save additional funds that may be needed.
A tragic death that occurs due to someone else’s negligence or wrongdoing can be extremely difficult to deal with, both emotionally and financially. Loss of wages, huge medical bills, and funeral expenses may put the individual or family in a difficult financial situation. If you are concerned about health care issues being handled inappropriately, this might be a good time to discuss options with a wrongful death law expert who can explain the legal process in claiming justice and compensation from the wrongdoer.
Don’t be caught unprepared when the unthinkable strikes. Talk to professionals who can help you understand and get ready for emergencies like these.