InsightsClient Story - Trusts - POSTED: April 5 2018
Brachers Trust Corporation – Managing financial & personal affairs
Following a catastrophic brain injury, Brachers now manages Sarah’s personal and financial affairs for her.
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Sarah has been a Brachers client for some time, following her involvement in a road traffic accident in 2007, when she, unfortunately, sustained a catastrophic brain injury.
Following the accident, Brachers dealt with Sarah’s claim for personal injury compensation and subsequently, she was awarded a large compensation payment for the injuries she received.
Following receipt of the compensation payment, the Court of Protection required that a deputy should be appointed to administer Sarah’s financial and personal affairs. An application was made to the court for a partner at Brachers to be appointed and he took up his appointment in 2009. Since then we have been heavily involved in Sarah’s affairs. Following his retirement as a partner in 2016, Brachers Trust Corporation applied to take over as Sarah’s deputy in his place and the appointment took effect later that year, and we continue to look after Sarah just as before.
As a result of her accident, Sarah has some challenging and complex issues, both physical and mental and she requires constant care. One of the first and most important tasks we undertook when we began to look after her was to assist her case manager in sourcing a competent, reliable care agency that was able to provide a 24-hour live-in care package. Happily, this was achieved and, as part of our continuing role, we liaise on a regular basis with the care agency, Sarah’s case manager and with the local authority, who contribute to the funding for her care needs, to ensure she receives the best care possible.
Another important aspect of administering Sarah’s affairs is, of course, to liaise with financial advisers, thus ensuring the most efficient management of the substantial amount of money she received in respect of her damages award payment. We have regular meetings with IFAs to ensure her financial situation is constantly being reviewed and monitored, with any adjustments to her investments being made as and when necessary. Of course, we also liaise with benefit agencies to ensure that Sarah is receiving all the benefits she is entitled to.
As another part of our role as deputy, Brachers arrange payment of all of Sarah’s household bills, source contractors to deal with home maintenance issues and manage and oversee her personal bank account to ensure she has enough money for day to day living expenses. We arrange physiotherapy appointments; art therapy sessions, medical appointments and on a lighter note Sarah often asks us to book holidays and social outings for her.
We are happy to say that we have built up a strong and happy relationship with Sarah over the years. Our aim in administering Sarah’s personal and financial affairs is to ensure they run as smoothly as possible and that, despite her disability, she continues to enjoy life as much as possible.
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