Spotlight on Mental Health



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A Special Family Connections Edition:

Financial Matters

Families often have questions and express concern regarding financial matters and providing support to someone living with a mental illness. Families have questions that cover a wide range of financial topics, and so we decided to dedicate an entire issue of Family Connections to offer resources and information that family members may find useful on a variety of financial issues.

In this issue, you’ll find practical information in an article written by Stacy from the Credit Counselling Society which includes do’s and don’t’s when it comes to money and supporting someone with a mental illness. You’ll also find information about disability assistance (PWD) from the BC government including eligibility requirements and how to apply. We have also included information on workshops that are available from community-based agencies which explore topics related to budgeting and financial literacy that you may find helpful. Finally, we’ve provided information and links to important topics such as Registered Disability Savings Plans (RDSP), trusts, and tax benefits for persons with disabilities.

We hope you find the information in this edition of the newsletter helpful. If you have feedback, please don’t hesitate to contact a member of Family Support and Involvement using the contact information included in the blue box on this page. We look forward to hearing from you!

Regards,

Family Support & Involvement

Gloria, Isabella & Jessica

Inside This Issue

1 OUR SPECIAL EDITION

2 Money and Love

3 Disability Assistance

4 Workshops

5 Family and Money

6 Additional Resources

7 Calendar of Events

Family Involvement & Support – Mental Health & Addiction Edited by: Jessica Wilkins

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Your Family Involvement & Support Team

Jessica Wilkins

Coordinator, Family Involvement & Support, Community 604-736-2881 Jessica.Wilkins@vch.ca

Isabella Mori

Coordinator, Family Involvement & Support, Acute Care 604-290-3817 Isabella.Mori@vch.ca

Gloria Baker

Manager, Family Involvement & Support 604-736-2881 Gloria.Baker@vch.ca

Family

Connections

October 2014

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Disability Assistance: Person’s with Disabilities

The Credit Counselling Society is a not-for-profit, accredited charitable organization that works to help Canadians manage money better, solve debt problems and use credit responsibly. They offer a number of worskshops free to the public on topics ranging from budgeting to debt management. Attending a workshop together with a loved one may be a great way to learn some new money management skills together.

Budgeting 101: 6 Easy Tips to Manage Your Money (webinar)

Thursday October 2nd, 5 – 6pm

This is a interactive and fun webinar on budgeting. You’ll learn the 6 steps to budgeting which will help you take control of your finances and give you peace of mind.

75 Ways to Save on Household Expenses (Webinar)

Monday Oct 6, 2014, 6:30 – 7:30pm

Have you ever found yourself overwhelmed by your own household expenses like groceries, vehicle maintenance, rent, mortgage payments & utilities? Learn how to manage these expenses with confidence in this webinar.

To register, you can call 1.888.527.8999 or email workshops@

You can find a listing of all the Credit Counselling Society’s workshops and webinars by visiting their website:

Money and Love

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Vancouver Coastal Health’s Special Advisory Committee is offering a free workshop on employment services for people with disabilities. Information will be presented by WorkBC Employment Services Centre and the YWCA of Metro Vancouver.

Tuesday, October 28, 2014

2:00 – 4:00 pm

at

Ravensong Community Health Centre

2450 Ontario Street, Vancouver

Room B3 & B4 (Basement)

All are welcome. Light refreshments will be provided.

If you would like to attend, please register by calling 604-714-3771 ext2238 or by emailing sacfocusgroup@

Disability Assistance and Trusts

Workshop: Employment Services for People with Disabilities

• Tax credits and deductions are available for persons with disabilities, their supporting family members, and their caregivers. To learn more information about tax credits and deductions for persons with disabilities, visit:

• The Canadian Mental Health Association published a special issue of their Visions Journal on Income in 2011. It contains a number of articles related to income, finances, and mental illness. A full copy of the issue is available online at

• BC Coalition of People with Disabilities has a number of help sheets available to help individuals navigate key disability programs and benefits in BC. Visit

• The Kettle Society offers an advocacy program which provides information, support and representation to mental health consumers to resolve income, housing and family law problems. Their advocates work together with clients, government agencies, family and other service providers to help persons with a mental illness access services. Every March and April they also offer free Tax Clinics for mental health consumers. Check out their website for more information:

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Written by Isabella Mori

In the last few weeks, the question of finances has cropped up quite a few times. For example, we have seen cases where a family member would like to provide financially for a person who is unwell but sometimes the person who is unwell finds it difficult to manage money. Other family members have questions about helping to provide for an unwell person in the future. All in all, money is a huge issue. Today we’ll talk a bit about matters such as trusts and annuities, which can be tools for families to help provide financial assistance to person who is unwell.

Trusts and Annuities

Henson Trust

A trust can provide financial security for a person who is not capable of managing their own money. There are several types of trusts; one of them is called a Henson Trust. This trust allows much discretion to distribute or withhold capital and income, and usually has other beneficiaries in addition to the disabled person. There are many terms that can be spelled out in the trust, e.g. that the purpose of the trust is to maintain a particular lifestyle, or to provide a guaranteed income. A person can bequeath such a trust in their will (e.g. grandfather can bequeath it on his unwell grandson so that he does not suffer financially after his death). Coast Mental Health, a non-profit organization, has good information and assistance in trust matters – see

Annuities

An annuity is an investment that provides a series of payments in exchange for an initial lump sum. It can provide regular income over a lifetime. For example, if Grandma Jones wants to see her 60-year-old son Brian have some money for the rest of his life, she might put up $100,000, and in return Brian could receive about $450 every month for the rest of his life. Brian would receive this directly from the bank; no trustee or family member would be involved (or could be pressed to give more.)

Enduring Power of Attorney and Representation Agreement

An Enduring Power of Attorney is an agreement utilized when an individual is unwell, and has been assessed as “mentally incapable” of making decisions that affect financial and legal matters. Under this kind of agreement, a third party is entrusted with taking care of an individual’s financial and legal matters. A Representation Agreement includes financial and legal matters as well as health care decisions. The People’s Law School has more information (and workshops) about this – here

All of these matters can be quite complicated, and there are many pros and cons for all these (and more) approaches. Talking to a financial advisor, and accountant, and generally informing yourself well is strongly advised!

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Family and Finances

Families may wish to explore how they can provide financial assistance to an individual who receives Disability Assistance through the government of BC. This assistance may help an individual living with a mental illness to meet the needs of their care through changes in housing, mobility aids, or home support. BC Employment and Assistance (BCEA) legislation provides that a person receiving disability assistance can have monetary assets held in a trust, under certain conditions, without those assets affecting eligibility for assistance.

A trust is a legal relationship where a third party (the trustee) holds money or other assets for someone else’s benefit. There are different types of trusts including both discretionary and non-discretionary trusts.

The Government of BC has extensive information on their website about disability assistance and trusts including:

-What is a trust

-Types of trusts

-How to set up a trust

-Eligibility

-Tracking trust use

-Where to go for more information

To learn more information about setting up a trust for someone who receives disability assistance, visit the Government of BC website:



The Registered Disability Savings Plan (RDSP) is a Canada-wide registered matched savings plan specific for people with disabilities. RDSPs can assist people with disabilities with long-term savings. Up to $200,000 can be saved up. If eligible, the Canada Disability Savings Grant can add up to $3,500 a year to the savings. Withdrawals can be used for any purpose, as long as it is for the benefit of the person with the disability. Anyone can contribute to the plan. RDSPs are exempt from counting as assets for people on income assistance. For more information, go to

Quick Facts:

- The Canada Disability Savings Grant: for every $1 put into an RDSP account, the federal government can match up to $3 (for household income below $87,123)

- Canada Disability Savings Bond: For people living on a low-income (less than $25,356 the federal government will put into an RDSP $1,000 each year for 20 years

- Anyone can contribute to an RDSP including family, friends, and other individuals.

To find out more information about how qualifies,

visit:

For general information about Registered Disability

Savings Plan (RDSP), including how get started, visit:



Credit Counselling Society: Webinars and Workshops

The British Columbia Employment and Assistance (BCEA) program provides financial assistance to individuals with disabilities. Person’s with Disabilities designation (PWD) is an income assistance program available BC residents.

Who is Eligible? An individual who is at least 18 years of age with a severe physical or mental impairment that is expected to continue for at least two years, and who:

-is significantly restricted in his or her ability to perform daily living activities

-requires assistance with daily living activities from another person, an assistive device or an assistance animal

This includes individuals with mental health disorders and individuals with episodic illnesses.

A person with PWD designation may be eligible for:

-Monthly support and shelter assistance

-medical coverage

-an $800 earnings exemption each month

-low cost annual bus pass

PWD application forms must be completed with assistance from a physician. To find out more information, or to download an application form, visit:

You can also call, 1-866-866-0800

Mood Disorders Association of BC – Mutual support groups for families of individuals living with a mood disorder. 2nd and 4th Tuesday each month, 7 - 9 p.m., Mount St. Joseph Hospital, 3080 Prince Edward St, Harvest Room A. Contact 604-873-0103

Raven Song Family Support Group– Support group for families who have a loved one living with mental illness. 2nd Wednesday of each month 6:30 – 8:30 p.m. at Raven Song Community Health Centre, 2450 Ontario Street, Vancouver. Contact 604-736-2881 or jessica.wilkins@vch.ca

SPH Family Support Group- Support for families who have a loved one living with mental illness. 4th Thursday of each month, 6-7:30pm. St Paul’s Hospital, 1081 Burrard Street, Room 2B-169, 2nd floor, Burrard Building. To register, call Pam 604-682-2344 local 62403

VCH Eating Disorder Program – Family Support Group – for friends and family members of individuals living with an eating disorder. 1st and 3rd Tuesday of each month, 6 – 7:30 p.m.,

3rd Floor, 2750 East Hastings, Vancouver. Contact Hella at 604-675-2531 ext 20689.

Parents Forever – Support group for families of adult children living with addiction. Group meets every 2nd Friday at St. Mary’s Kerrisdale, 2490 W 37th Ave., Vancouver.

Contact Frances Kenny, 604-524-4230 or fkenny@

CMHA Chinese Family Support Group – Education sessions for Chinese families who have a loved one living with mental illness. Richmond Caring Place, 1 – 4:00 p.m., Room 345/50, 7000 Minoru Blvd, Richmond. Contact bessie.wang@cmha.bc.ca or 604-276-8834, ext 12.

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October 2014

Sun |Mon |Tues |Wed |Thurs |Fri |Sat | | | | |1 |2 |3

Parents Forever Support Group |4 | |5 |6 |7

|8

Raven Song

Family Support Group |9 |10

|11 | |12 |13

|14

Mood Disorder Association Support Group |15

|16 |17

Parents Forever Support Group |18 | |19 |20

|21

|22 |23

SPH Family Support Group

(Pls Register) |24

|25 | |26 |27

|28

Mood Disorder Association Support Group |29 |30 |31 | | |

Calendar of Events

Support Group Listing

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Registered Disability Savings Plan (RDSP)

Additional Online Resources

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Written by Stacy Yanchuk-Oleksy

Director of Education and Community Awareness

Credit Counselling Society

Money is one of the last ‘taboo’ conversations in Canada. We seem to be willing to talk about almost anything else, but we struggle with talking about our income, our budgeting skills, as well as our challenges around money, credit and debt.

Credit is easily accessible in Canada, available through a credit card, loan, line of credit, and/or a payday loan. We use credit for the things we want, the things we need, and the things we didn’t plan for. Credit can supplement living expenses, especially if we are living on a fixed income. Unfortunately, we sometimes use credit and money as a coping mechanism when we are unwell.

When it comes to supporting a loved one with a mental illness, there are some do’s and don’ts that families should follow:

➢ Don’t co-sign or apply for joint credit with a loved one. If one individual on a co-signed debt misses a payment or loses the ability to pay altogether, the creditor will simply look for payment from the other person. Furthermore, if a loved one declares bankruptcy, the other person on the debt(s) is responsible for 100% of the payment, not just their portion.

➢ Do be very careful if they choose to pay their loved one’s debts. This can create a pattern of spending, family paying off debt, loved one spending, and so on.

➢ Do encourage a loved one to put limits on their available credit or even close them down and choose to live on a cash-only budget. They can do this by communicating directly with their creditors.

➢ Do encourage a loved one to put a statement on their credit reports to limit the approval of additional credit for personal reasons. This can be done through Equifax and Transunion, the two Canadian credit reporting agencies.

➢ Do encourage a loved one to get help with the money, credit and debts by speaking with a credit counsellor at a reputable non-profit agency.

The Credit Counselling Society is a non-profit, accredited charitable organization that helps consumers from all walks of life in the following ways:

➢ Free credit counselling – a consumer can meet with an accredited and qualified Credit Counsellor in person or by telephone to discuss their financial situation and the options that are available to them;

➢ Low cost debt solutions – some consumers can establish a Debt Management Program whereby all unsecured debts are pooled into one monthly payment and disbursed to creditors on their behalf. The creditors provide interest relief so the consumer can become debt-free in a reasonable timeframe. The consumer also learns essential budgeting skills as they live on a cash-only budget; and

➢ Education – consumers can attend public library workshops as well as virtual webinars to learn valuable money management skills. Online registration can be done at mymoneycoach.ca.

Where there are financial problems, financial solutions exist. All that is needed is the courage to ask for help. Consumers can call 1-888-527-8999 or visit the website for more information and resources.

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