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Tips from a wealth advisor on managing personal injury lawsuit settlements

Often victims of negligence who win settlements or verdicts from personal injury lawsuits or medical malpractice lawsuits are faced with difficult decisions when they receive compensation for their losses. Nancy Lyon is a Senior Vice President of the Wealth Strategies group at Northern Trust Bank who is often called upon to assist victims of personal injury in managing their settlements and in avoiding common investment mistakes. Nancy has helped author two articles that may be useful to those faced with investment decisions after winning lawsuits, which can be found here: “Managing Sudden Wealth” and “Avoiding Common Investment Mistakes”

Nancy’s 5 most important tips are:

1. Sudden wealth causes financial issues.
2. It costs money to give money away.
3. If you receive a lot of money and don’t know what else to do, at least deposit it in a bank to earn interest while you learn more and decide.
4. Talk about your choices with a trusted advisor and learn as much as you can.
5. If you are educated about your wealth, no one can take advantage of you.

To contact Nancy Lyon, email NAL1@ntrs.com or call 312-444-3791.