They're still around but are a pain in the ***.
Illness and mortgage
- Thread starter INVSTOR
- Start date
They're still around but are a pain in the ***.
Thanks, they never made much financial sense to me, seems like your building a bigger hole for yourself.
PM sent, I won't be discussing publicly.
Thanks heaps everyone for your valuable advice. Everything has been so full on health wise and emotionally for them. I've passed on your comments and they are very appreciative and found the info helpful! She is quite a bit ahead in repayments so that should give her heaps of time to not have to rush into any decisions. 
If she stays as she is now she won't be able to go back to work, but hopefully things will improve!
If she stays as she is now she won't be able to go back to work, but hopefully things will improve!It's been about two weeks since the health situation was looking grim, four weeks since she was a seemingly perfectly healthy person. She now has a diagnosis of MS. She is so ill now she doesn't know what month it is or when she was born. Big shock. Goes to show how important insurance, wills, planning for the unexpected, etc are. MS is unpredictable. She is way ahead in house repayments so all payments have been stopped and there is no need to do anything drastic. She had a bit of insurance through super which should help also. Can only take one day at a time. Her house is in a proposed rezoning area of Bris (i had RPI check for me previously, thanks again Darryl) so hopefully it will go ahead and values will continue to rise and her health improves immensely over the coming months.
Can anyone suggest a good source for mortgage insurance? this is something we need to have.
Mortgage insurance is generally expensive and restrictive. What about trauma insurance. My trauma insurance covers MS for example.
INVSTOR, should check to see if the girl had temporary as well as death and permanent disability insurance attached to her super.
All super that I've had (3 different types) have all or some of this, although only valid if contributions had been made in the previous 3 months.
Thought I'd add that for those that have stopped contributions through leaving or changing jobs, and don't realise the insurance may be invalid.
Terrible news. Must be very difficult for everyone around her. My thoughts go out to her and those caring for her.
The Y-man
Good points, I'll have to get them to look into that soon, before the 3 months is up.
Thanks the Y-man. It is actually my sister that has MS. My parents in their 70's have been caring for her. She was hospitalized a couple of days ago. I live on the other side of Aus so I've only been able to help support them all emotionally by phone and try to 'think' and research for them. It has been terribly exhausting for my mum, very sudden, unpredictable, very sad.
I meant stopping contributions for longer than 3 months and then getting sick - referring moreso to old policies that people had ceased paying into.
I would still get onto them and let them know what is going on so at least you know what steps need to be taken.
My policy will pay me 75% of my income after all sick leave + 1 month is exhausted.
If I'm deemed permanently disabled then a get a lump sum payout.
thanks for the offer and condolences, that's very kind. Yes I'm back in Perth with my family in Brisbane. Everything is under control.
My mum was trying to get those sort of details from her a couple of weeks ago and they got some verbal info from her superannuation and requested they send her some information. My mum was struggling to get straight answers from my sis back then. There could be other insurances through her employment that we don't know about. I will get mum to go through her files.
sorry to hear your news. hopefully your sister will improve from her current status, albeit still with the diagnosis but able to function better. it is not uncommon to have peaks and troughs with ms over many years.
practical matters re finances will need to be sorted of course. if she cannot make decisions or lacks capacity hopefully issues around legal processes have been determined.
it must be very difficult for your parents too, no one expects this sort of outcome. at least she has a supportive family. all the best hard to make decisions when faced with news like this.
practical matters re finances will need to be sorted of course. if she cannot make decisions or lacks capacity hopefully issues around legal processes have been determined.
it must be very difficult for your parents too, no one expects this sort of outcome. at least she has a supportive family. all the best hard to make decisions when faced with news like this.
Thanks Pully, My parents have been very busy dealing with the moment and haven't had a chance to deal with the legal side. Now that they have a break, this will be the next step. She has some bills but can't access bank account/doesn't remember passwords so parents will need to control.
Obviously the individual's health issues is the most important, it's also important to consider the more prosaic issues.
In addition to wills, life and trauma insurance, it's also important to find an objective and trusted third party to help with navigating the paperwork if the family is finding it emotionally difficult.
Most of us probably have multiple bank accounts, insurance policies, properties, etc.
Other than a properly drawn up will, a clearly set out filing system, scanned documents, lists of accounts, contact details, etc would make the process a lot easier if something were to happen to us.
In addition to wills, life and trauma insurance, it's also important to find an objective and trusted third party to help with navigating the paperwork if the family is finding it emotionally difficult.
Most of us probably have multiple bank accounts, insurance policies, properties, etc.
Other than a properly drawn up will, a clearly set out filing system, scanned documents, lists of accounts, contact details, etc would make the process a lot easier if something were to happen to us.
Yes, and the other side of it is that parents need to adjust their wills, etc as they had nominated my sis to take care of their affairs
It may be too late for your sister to do a will now if she is having capacity issues. Same with appointing a guardian or an attorney. But this can easily be done by going to a the Guardianship Tribunal - not sure if the same name in QLD. Your parents should look into this and possibly get a formal appointment as guardian if appropriate.
Also look into the insurance side of things and the super side of things. If the illness is serious enough it is possible to get access to super early.
With wills it is a very good idea to have one or more back up executors in case the nominated executor is unable or unwilling to act. And with every will you make you should assume it to be your last. Many intend to change their wills, but like going on a diet, it often never happens...
Also look into the insurance side of things and the super side of things. If the illness is serious enough it is possible to get access to super early.
With wills it is a very good idea to have one or more back up executors in case the nominated executor is unable or unwilling to act. And with every will you make you should assume it to be your last. Many intend to change their wills, but like going on a diet, it often never happens...
About 2.5 wks ago I was telling her about my dog, she somehow confused it with my son, and stated that she didn't want to talk to anyone anymore as they confuse her. It is past her making any decisions. When she can again, who knows? I'm guessing this organization is what you are talking about? http://www.qcat.qld.gov.au/matter-types/guardianship-for-adults-matters
Yes, that is the one in QLD. You should give them a call and speak about getting a guardian appointed and an administor (for financial side).
Does your sister have any assets to worry about? does she have a will in place? Consider that it is probably too late to revoke the will as she doesn't have capacity - do you think any issues there? Such as leaving assets to someone she may no longer want them left to? If there is no will you should consider the intestacy rules. If you think these may not be suitable then look at a court made will perhaps.
Sorry to hear about your sis. How sudden it has come on. I hope they can improve some things whilst she is in hospital and your parents can come to grips with the complex unravelling of her affairs to find them all and take control.
During this time, which is undoubtably stressful, they need to remember to also look after themselves.
During this time, which is undoubtably stressful, they need to remember to also look after themselves.
