CLIENT CASE STUDY

Our team was introduced to “Steven” and his family by their trial attorney, after their case had settled. Steven is a teenager that was hit by a negligent driver that failed to yield at a pedestrian crosswalk. He suffered a traumatic brain injury that resulted in a sensory processing disorder and epilepsy diagnosis.

As a result, Steven lost his spatial awareness and his perception of his environment was impacted. The effects of the motor vehicle accident made it hard for Steven to continue his education in a traditional setting.

We helped Steven’s family coordinate their settlement amount with their personal finances, savings, and retirement plan. Through creating a special needs financial plan, our team also introduced disability resources to help establish additional support for Steven.

This client case study is a hypothetical example and is only intended to help illustrate potential benefits a client may receive by working with Palladio Consulting LLC and its special needs planners. The people depicted in this case study are not real. Each client’s situation is individually assessed to understand each client’s exact circumstances and recommendations are developed accordingly. The following recommendations associated with this client case study are realistic representations of the services Palladio Consulting LLC can provide for people with disabilities and their families.

Palladio Consulting LLC., is an Oregon registered investment advisor. Information contained herein has been obtained from sources believed to be reliable but cannot be guaranteed. This information is for educational purposes only and not intended as an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. We recommend that you first consult with a qualified financial advisor, tax professional, or attorney before implementing any strategy or concept discussed herein.

Create a Special Needs Financial Plan

Our team helped Steven’s family create a financial plan to help provide supplemental income and additional support throughout the lifetime of their child. This included planning for long-term living and subsequent costs.

Invest and Manage the Settlement Proceeds

Working alongside Steven’s parents, the co-trustees, our team created a wealth management strategy for the settlement proceeds. In accordance with the special needs trust and special needs financial plan, the money held by the trust was invested in a way to help minimize taxes over the investment’s horizon. The financial strategy included an income stream to provide for the immediate medical, educational and housing costs for Steven.

Review Public Benefits and Eligibility

We reviewed Steven’s eligibility for public benefits like the Oregon K-plan, medical waivers, and needs based benefits available through the Oregon Health Plan.

Transition Planning and Vocational Rehabilitation

Together, with Steven’s parents, our team helped define a vision for Steven’s future that linked his personal interests with a plan for education and employment. Part of the transition plan included discussing Steven turning 18 years old and reaching the age of majority.

Establish an ABLE Account

In order to pay for qualified disability expenses, like housing, we helped Steven’s family set up an ABLE account in coordination with his special needs trust. The ABLE account provided Steven with a way to grow funds tax-free, and take distributions with an ABLE account debit card.

Createa Letter of Intent

We introduced Steven’s family to a letter of intent after qualifying for the Oregon K-plan. The letter of intent provided a method of recording important information like prescriptions, therapies, daily schedules, and the contact information of key people in Steven’s life. The letter of intent also helped summarize Steven’s special interests, favorite activities, and the overall vision from the perspective of his family.