Financial Planning and Hardship Resolution

Over time, Parkinson’s can take a toll on your financial well-being. The cost burdens of treatment and other lifestyle issues affect all people with Parkinson’s. In addition, some people may find that Parkinson’s affects their employment income. Unfortunately, this means that living costs are greater at the same time as income is reduced. For these reasons, people with Parkinson’s and their families are more at risk of experiencing financial strain.

To reflect the varied financial circumstances people experience, information is provided under the following headings:

• What are my financial rights?
• Where do I find financial advice and information?
• Help for resolving experiences of financial hardship
• Wills, Power of Attorney, Guardianship and Administration
• What if I need additional support?

What are my financial rights?

Community Law
This is the central website for community legal centres across Victoria. It contains an information guide and a service directory.

On this website you can:

• Browse information on consumer and money problems to find out the range of supports to protect and promote your financial rights.
• Search for your closest general or specialist community legal centre.

Community Legal Centres provide free legal information, assistance and advocacy for low-income people. Some centres deal with general areas of the law and some centres give specialist information and advice on particular areas of the law.

For instance, the Consumer Action Law Centre specialises in financial, consumer and debt issues.

Find more information in our Legal & Rights section.

Where do I find financial advice and information?
Financial advice is readily available through a number of avenues, such as your bank, accountant or through a private financial advisor. Be aware of the costs involved. If you want to do your own research, you may find the following sites of interest:

• seniors.gov.au – see section 'Your Finances'.

Find key services and information resources for a range of general financial topics, including superannuation, centrelink payments and allowances, concessions, financial planning and financial services.

• FIDO- (FIDO is the consumer website of the Australian Securities and Investments Commission)

This is the consumer website of the Australian Securities and Investment Commission (ASIC). ASIC is the government “watchdog” designed to protect consumers, creditors and investors. Find a range of important financial information and advice for people in varied circumstances.

• Aged Care Australia – Financial Planning
• National Information Centre on Retirement Investments (NICRI) – 1800 020 110

The role of NICRI is to provide independent information to assist people in making the best possible financial investment decisions. It is geared towards people considering retirement or facing redundancy.

• Understanding Money - 1800 236 235

This Federal Government website provides simple, easy to understand information on how to manage your money.

Help for resolving experiences of financial hardship
If you are experiencing financial hardship, a range of services and practical options can help. Find out more: Hardship Resolution. (PDF File 34KB)

For additional information, visit seniors.gov.au – see section 'Your Finances'.

Wills, Power of Attorney, Guardianship and Administration
Making a will and appointing a Power of Attorney, Guardian or Administrator are important decisions that can ensure your financial affairs are handled in your best interests.

Find out more in our Legal & Rights section.

What if I need additional support?
Financial problems often accompany complex life circumstances. If you feel you need additional assistance, you may find emotional support or counselling helpful. If so, please see the Counselling & Support section for further information.