June 29, 2019

DAS Case Study: Grace’s Adult Brain Injury

In Disability Advisory Services

Roger Reynolds
Contributions from: Roger Reynolds

Meet Grace

Disability: Adult Brain Injury

When we met Grace, she had suffered from a brain injury as a result of complications that arose while giving birth to her son and the ensuing treatment. The results were lasting mental and physical pain 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 and ability to continue her education and improve her financial situation.

Disability Advocacy

Here are the ways Coldstream’s Disability Advisory Services, became an advocate for Grace and helped her and her family.

Estate Planning: One of the first items we tackled was reviewing Grace’s life-care plan drafted by her attorney. Considering Grace and her husband, Jack, lived in a separate property state and the extent of Grace’s medical needs, we encouraged her to segregate the financial settlement assets from those jointly shared with her husband. The assets were placed in trust where Grace acts as her own trustee. Housing the settlement assets in a trust acts as a safety net to ensure Grace has funds set-aside to cover her future medical needs.

Consolidation of Debt: Grace and Jack had issues that have put a strain on their relationship and caused them to go into debt. We assisted them with consolidating their debt and creating a plan to pay down that debt. They are still married and working to resolve their issues.

Financial Planning: After completing a financial plan for Grace and Jack, we determined Grace’s trust assets will likely deplete during her lifetime. Without a continued source of income, it was critical to help Grace create a need-based spending plan that prioritized her care. Although, their financial picture isn’t where Grace and Jack would want it to be, they have the tools and roadmap needed to stay on track.

How We Can Help You

Every client is unique. That is why our approach to comprehensive wealth management and disability services is customized to your needs. Our experienced team is here to help you and connect you to service providers to facilitate any projects you need help with. Get in touch with Coldstream today and let us help you reach better outcomes.

Disclaimer: While the stories in these examples are true, names and some identifying details have been changed to protect the privacy of the people involved.

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