“Grace” was injured as an adult when complications arose while giving birth to her son and the ensuing treatment. She suffered lasting mental and physical pain resulting from oxygen deprivation, blood loss, and disfigurement.
The incident caused Grace to lose the ability to bear additional children and she has developed a multitude of mental disorders. She can no longer work a standard 40-hour week due to exhaustion and inability to concentrate – limiting her earning potential.
In addition, the effects of her mental conditions also prevent her from continuing her education and improving her financial situation.
The following is a representation of the projects that we have conducted on behalf of Grace and her family:
- After meeting with Grace and reviewing her life-care plan drafted by an attorney, we encouraged her to segregate the financial settlement assets from those shared with her husband, “Jack.” The assets were placed in trust where Grace acts as her own trustee. Grace and Jack live in a separate property state.
- Grace and Jack have had issues that have put a strain on their relationship and caused them to go into debt. They are still married and working to resolve their problems.
- Grace’s trust assets will likely be depleted during her lifetime, and we have had to coach her on responsible needs-based spending, rather than discretionary. This has been effective, although her financial picture still isn’t pretty.
- We have advised her how to effectively consolidate her debt and whether the trust’s assets should be used in this fashion.
The Coldstream team members responsible for implementing Disability Advisory Services’ activities have significant experience and background within the disabled community. We have established key strategic relationships with other service providers to facilitate any projects or initiatives required by our client. We are extremely proud to blend our customized comprehensive wealth management services with our knowledge and appreciation for the needs of the disabled community.