In a tight spot

[mrhopeful]

I am not looking for anything except suggestions.

We have been lucky in life to date. This is a throw away however been on reddit for years.

We have worked hard and been lucky however my partner has had a concussion injury and I am looking at our finances. It’s been two months and he is still not with it, memory not there and jumbled speech. A severe case not looking to resolve itself quickly.

We owe approx 1.5 million on four properties, we have two finishing blocks and a house which is a commercial rental. I have not taken the lead on finance which is all on me. I don’t know what our joint income truly is, can’t find any accountant contact, I work full time and earn 107 k pa and husband has 3 businesses…all I can work out is 3.5 k comes in from his businesses per week into our personal accounts. Staff know very little…they get paid and keep working, which is great.

I found some liquid assets across every friggin bank, taken me weeks to work out passwords, he remember some..others did not, could tell me where written down, so thought best to see if can get applied against the loan on an offset which I read on here. Basically all loans is 10.5 k per month. 2/3rds are locked in until 2024 and 2026. Only one comes up this year, in July, currently 2.4 percent. I am maxed out working, one kid and covering the sheep on one finishing block while the other grows feed.

Partner rest a lot and often incoherent and at this stage it is an unusual case, the specialist has told us. It does not look like a quick recovery.

Any ideas??

 

[sherrine]

@mrhopeful Sounds more serious than a concussion. More like a TBI. If you haven't already, lobby ACC to level up their support to your husband. He may benefit from a rehabilitation programme to manage fatigue, establish routine and structure and develop memory strategies. Also a neuropsychology assessment to identify what is going on cognitively.

 

[resjudicata]

@sherrine As somebody who used to work in brain injury- a concussion should have mostly resolved by now, continued issues with slurred speech that is definitely a TBI (those symptoms this far on are pretty common for a TBI)

A TBI can take up to seven years to recover from and if you haven’t got one already, your GP can get a referral for you to a concussion/TBI service with OTs, physios, social workers, support for families etc that you can continue to access for the whole time he’s recovering. ACC should fully fund this

 

[tomder55]

@sherrine Absolutely this. Dealing with long covid atm, with the brain issues being the most problematic. The occupational therapist and physio I have been seeing told me a lot of techniques they're using are based on concussion rehab. They have been unbelievably helpful with support and guidance, and some of the advice is contra to what I would have been naturally inclined to do. It sounds like it's really impacting you both so do whatever you can to get some recovery support in place.

 

[resjudicata]

@sherrine Did you mean TIA??

 

[sherrine]

@resjudicata No, traumatic brain injury

 

[resjudicata]

@sherrine Right … makes sense. Sounds dreadful for that family I hope they can make some progress to better health.

 

[mrhopeful]

Thanks for your thoughts, contacted lawyer, found out we changed lawyers twice and they have been so helpful to advise me where files moved onto. So have the current lawyer, the partner, now contact IRD to find out on the tax agent and update them on the situation. He is approaching the banks to see what is required. Only a beginning.. still going into the weekend..feel a plan coming together. Thanks a plan gives some peace..for now.

 

[icreepin]

@mrhopeful I'd hire a shepherd to manage the sheep, or sell the flock. Get a family member to help with the kid, a nanny or daycare. Then you'll have some space to sought the rest. Take it one day at a time.

It's ok to ask for help.

Get power of attorney or some other way to get the passwords from the banks. Once you know all the accounts you'll see what's been coming in. Then check with staff what contracts are open and what's expected next.

 

[resjudicata]

@mrhopeful The $3.5k is likely to be just drawings not reflective of company operations.

I think you need to speak to someone in the companies that does the management accounts and also discuss it with the accountant as well. Thats the first thing I would as it will confirming how the business is doing and likely to be doing in the future. Once you know, you can decide what to do from there.

Hope your partner gets better. Sometimes you can't rush recovery, but I understand the pressure on you. Hope this suggestion helps.

Edit: perhaps an accountant can confirm a way to find out who completed the company returns therefore get the contact details.

 

[jchoy]

@mrhopeful Does he have any income protection insurance, mortgage protection or similar? This genuinely saved our house and finances when my husband had an unforeseen surgical injury.

 

[garrettholliman2001]

@mrhopeful Wont be cheap, but an account in their asap, to start collecting data and formulate a plan. At the same time get to a lawyer see if your can get a EPA or similar to have a better legal standing on all the accounts

 

[davidcave1]

@mrhopeful Check bank accounts for any deposits to a crypto exchange like easy crypto ( they are called ec group or finance or something) or crypto wallets on pc desktop like exodus . Same thing for share platforms like hatch or stake or payments to gold sellers like nz mint

 

[resjudicata]

@mrhopeful Whilst I cannot offer any financial advise, I to suffered from a severe condition/TBI and what I can tell you is that while the beginning is tough and hard, it will get better. Just take things slowly & each day as it arrives and if your partners up to it, get him to do some simple & easy memory tasks. Here’s to wishing him a speedy recovery and you the strength to get through it.

 

[magicaxeman]

@mrhopeful Sorry if this is a bit off topic but do you have an occupational therapist assigned for your partner? Depending on district health board it should be standard and they would help a lot with things like ACC etc and rehabilitation.