Insights

May 1, 2019

DAS Case Study: Sam’s Disability Settlement

In Disability Advisory Services

Brian HoltRoger Reynolds
Contributions from: Brian Holt, Roger Reynolds

Meet Sam

Client Since: 2009 | Disability: C-4 Quadriplegic

We had the pleasure of meeting Sam in 2009. When he visited our office for the first time, he was in his 20’s and had recently received a significate personal injury award due to a disabling accident. As a result of the accident, Sam was left a complete C-4 quadriplegic requiring 24-hour assistance. His life drastically changed overnight, and he quickly realized that modifications to all elements of his life were needed to match his disability.

Disability Advocacy

When Sam and his family engaged Coldstream’s Disability Advisory Services, there was a long list of items to tackle. Coldstream became an advocate for Sam

Special Needs Trust: There are various pro’s and con’s to established a Special Needs Trust. We worked directly with Sam’s trail attorney to create an analysis of whether or not a Special Needs Trust would be right for Sam. After presenting the attributes of this concept, Sam and his family decided a Special Needs Trust was the best option to protect Sam’s financial interest.

Healthcare: Reviewing Sam’s health insurance was one of our top priories. We wanted to determine his eligibility for any public medical and healthcare assistance programs, and provide a recommendation on programs he should take advantage of.

A Suitable Portfolio Allocation: Sam’s investment portfolio was specifically design to address the cash-flow needs expected throughout his lifetime. We designed an allocation mix that took into account his extremely low risk objectives as a priority driving force.

Building a Home: When Sam decided to build a home suited to meet his quadriplegic lifestyle, we were involved in negotiating the construction contract with his custom home builder and assisted with obtaining financing for the project. We also recommended a technology consultant to ensure the home had the most advanced voice recognition and adaptive design features in place.

Estate Planning: Estate planning has played an important role in our relationship with Sam. Prior to marrying his fiancée, we recommended and assisted an estate planning attorney to work with Sam and his fiancée to establish a proper structure that met Sam’s unique financial situation. This required striking a delicate balance between nurturing their blossoming relationship and the pragmatic need to maintain Sam’s financial viability throughout his lifetime. Additionally, Sam suffered a tremendous loss when a family member passed away. We assisted him with closing their estate and addressing the countless projects such as disposing of an automobile, closing outstanding school loans, notifying banks and credit card companies, and modifying estate planning documents.

Charitable Giving: Sam has a vision of establishing a Charitable Foundation to assist others in similar disability situations. We have framed the alternatives available to accomplish his vision and worked with legal counsel and a consultant to aid in making his dream a reality.

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.

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