Suzie, aged 19, received compensation after being seriously injured in a car accident.
Suzie was involved in a serious road accident as a passenger in a vehicle. As a result of the accident Suzie suffered significant physical injuries along with a traumatic brain injury.
Suzie has been through extensive rehabilitation over the six years since the accident and has progressed well in recovering from her injuries. However, residual mental and physical disabilities will have an impact on her for the rest of her life.
Suzie was awarded substantial compensation amounting to $2.5 million from the CTP Insurance Regulator for the injuries she received in the car accident.
Suzie and her family were concerned about her managing the large amount of money she received and about her being financially abused (for example, being encouraged by other people to buy large items for them).
It was agreed that the funds would be paid to the Public Trustee as manager of the compensation payment. Accordingly, the Supreme Court made a Protection Order appointing us to manage Suzie’s compensation funds under the Aged and Infirm Persons’ Property Act 1940.
When the payment was made to the Public Trustee Suzie and her family met with one of our Personal Estate Officers to go through all of her immediate and long term financial requirements. We worked together to establish an affordable budget for Suzie, including a weekly personal allowance to cover all of her regular expenses.
The Personal Estate Officer organised for us to take care of all of Suzie’s other bills, and invested a portion of her funds into one of our Standard Investment Strategies. This investment would be managed to ensure Suzie’s needs would be met for her lifetime.
We helped Suzie with the purchase of a house by ensuring it would be suitable for her in regard to her disabilities, it was structurally sound, and it was not overpriced.
Suzie and her family also have the ongoing peace of mind knowing that the house cannot be sold without our approval, all expenses concerning the property will be taken care of by us, and it will always be properly insured and maintained