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personal injury advice – David’s story
David has a great sense of humour, can communicate well and knows what he wants out of life. But, he cannot manage his finances on his own.
In 2006 David was involved in a serious car crash. He suffered a severe head injury which left him impulsive, with poor concentration, sometimes volatile and on occasions suicidal.
ipac first met David in 2009 just before his case settled. He was living in a tiny housing commission home which was unsuitable for his needs – on the third floor of a building with no lift. He was onto his third care agency in two years due to his behaviour and had sacked two case managers. His family did not get on with each other and he was caught in the middle. At that first meeting he told us of his wish to own his own home, get a dog, have a vegetable garden and buy lots of DVDs.
Making the complex simple
We knew that we could help David, and make sure his interests were put first. Because of the family conflict it was decided that an independent trustee would be best placed to protect David’s interests and one was appointed as his financial manager.
We made sure that David’s funds were invested across a diverse portfolio so that he has the best opportunity of making his settlement money last throughout his life. Superannuation plays a big part so that David legally pays no tax.
Within two months of receipt of the damages David was able to move into his own home which was perfect for his needs. We introduced him to a case manager who he sees weekly and calls whenever he needs.
ipac also helped David to find his current care agency – which has worked with him for over a year now. David knows he can call his Trustee, or us at ipac whenever he needs help troubleshooting problems. His family and friends frequently make him feel guilty for having money and so we talk through ways of handling this.
Because David has problems budgeting his money, the solution was to pay him spending money in instalments three times a week and other bills are paid by his financial manager. He is learning to save a bit each week.
David now has a dog, a vegetable garden, is doing some voluntary landscaping work, has joined a gym and is learning to cook. He also has an impressive DVD collection!