A lump sum payment of compensation for personal injury marks a moment in time. A person’s past and projected future life has been simplified into a single settlement or judgment sum.
That figure paid at that point of time won’t change, but thereafter everything else will. All the complexity of life comes back into play. Skilled management of that one lump sum is therefore essential.
How can this be achieved?
How can a lump sum be managed to handle this complexity? Significant expertise is certainly required to take into account:
- uncertain life expectancy
- investment, inflation, economic, legislative and other risks
- current and proposed retirement income products
- government benefits
- superannuation and insurance benefits
- residential options
- personal and carer health
- behavioural factors.
A specialist adviser who is fully on top of the latest information and who is not locked into any particular product solution set can design an appropriate investment and income stream strategy for a wide range of personal injury client circumstances.
Jane’s scholarship – further professional recognition
Aeran is a modern financial advice business which specialises in advice for Australians with serious injuries and disabilities.
Aeran’s principal, Jane Campbell, has expert knowledge developed over decades as a result of her work directly with families as well as with personal injury lawyers and in law reform activities.
Jane’s commitment to always being on the cutting edge of academic and policy reform issues relating to income streams for people who can no longer work was recently recognised.
In awarding Jane a scholarship last month, the Financial Planning Association’s CEO Mark Rantall stated “In conjunction with Challenger, the FPA is delighted to award Jane Campbell one of six scholarships to study Retirement Income at UNSW. We are extremely committed to supporting financial planners in the area of education, and fostering a passionate professional community that gives back to those who need help the most. Jane embodies all these qualities.”
Contact Aeran if you wish to discuss your client’s situation.