The Hudson Financial Assessment™
To aid the client in determining and executing the best financial solution from the date of loss to the date of settlement and to open an RDSP to begin capturing government contributions ASAP.
This service is covered under the SABS and in most cases we have recovered the cost for the client within the first year. Once we have assessed the client’s situation and provided a roadmap to the best solution, we stay on to assist and to advise and to field the financial questions so that the legal and care teams don’t have to. Furthermore, our report to the client is protected by PIPEDA and cannot be requested by the defense.
The Needs Analysis
- A review of the pre-accident household cashflow
- An examination of the budget under the new conditions (IRB, NEB, household income, etc.)
- A review of options for financial sustainability during litigation
- A review of financial risk to the household
The “Treatment Plan”
- Stepwise instructions on how to achieve the optimal cashflow
- Which expenses can be reduced or eliminated?
- Which government support program(s) are the best, given the circumstances and how to qualify for them?
- ODSP, CPP-D, Direct Funding, Passport Program
- Tax and cost-effective solutions for using savings, assets, and/or debt for sustainability
- Mitigation strategies for identified risks