Ep 33: Fair Deal and Equity Release: What Families Need to Know Before It's Too Late

Ep 36: Health, Identity & Money: An Occupational Therapy Perspective on Financial Well-Being

In this episode of Master My Balance, Occupational Therapist & coach Áine O’Dea (Radiance Consulting) explains how everyday “occupations” – from cooking a meal to topping‑up a Leap Card, are fundamentally linked to brain‑based executive‑function skills and our money habits.✅ What you’ll learn* Money management is an **occupational skill** just like dressing or caring for a child.* Executive‑function deficits (planning, self‑monitoring, working‑memory) drive budgeting problems for people with ADHD, dyspraxia/DCD, autism or depression.* Simple OT tools – budgeting boards, handheld scanners, smartphone shopping‑list apps, cut cognitive load and anxiety while shopping.* Early financial‑literacy builds lifelong confidence and self‑efficacy.* The **Work & Access Scheme** (launched July 2024) can fund up to **€20 000** for neuro‑inclusion training and workplace OT assessments – any size organisation can apply.🕒 Chapter markers00:00 – Welcome & intro to Master My Balance 00:45 – What “occupation” really means in OT 02:30 – Mental‑health challenges & everyday finances 04:55 – Executive‑function skills → budgeting, planning, self‑monitoring 07:20 – Practical OT tools for adults (budget boards, scanners, apps) 09:45 – Neuro‑divergent adults (ADHD, dyspraxia/DCD, autism, dyslexia) & money 12:10 – Work & Access Scheme – up to €20 k for workplace training/assessments 14:30 – Teaching money skills to kids as young as 3‑5 (self‑efficacy) 16:55 – Áine’s coaching for professionals, self‑employed & SMB owners 19:04 – *End of Part 1*💬 Want to work with Áine? Website: https://www.radianceconsultinghub.com 👍 If this episode helped you, please LIKE, SHARE and COMMENT with your favourite OT tip!🔔 Subscribe for regular tips and talks on financial well-being and the various factors that can impact it: ▶️ https://www.youtube.com/channel/mastermybalance#FinancialWellBeing #OccupationalTherapy #NeuroInclusion #MoneyMindset #MasterMyBalance #financialliteracy

Ep 35: New Relationships After Divorce: Cohabitation, Assets & Protecting Your Future

In Part 2 of my discussion with Muriel Walls, we continue the deep‑dive into the financial aftermath of divorce, this time focusing on new relationships, co‑habitation, tax, and succession. Key take‑aways: • Cohabitation – who is legally liable after two years together with a child, or after five years without a child • Cohabitation agreements – how a simple written contract can protect your assets, and allocate responsibility for mortgage, home improvements, or pension rights. • Remarriage & inheritance – how divorce automaticallyextinguishes spousal succession rights, why a fresh will is a must, and the minimum legal right share (one‑third) for a spouse who later remarries. • Tax implications – difference between joint assessment vs.single assessment after divorce, the single‑parent child‑care tax credit, and why gifts to a cohabitant are subject to gift‑tax while gifts to a spouse are tax‑free. • Prenuptial agreements for older couples – why they are now enforceable in Ireland when both parties obtain independent legal advice; practical examples (house, pension, children). • Life‑insurance & death‑in‑service benefits – updatingbeneficiaries after divorce, how courts may require policies to secure maintenance, and the impact on the estate. • Trusts & professional trustees – when it makes sense toengage a solicitor or accountant as a trustee and the cost‑benefit analysis beyond the “cost attached”. • Common regrets – not establishing a rainy‑day fund early,ignoring pension contributions, and failing to update wills & insurance policies.   Resources Muriel Walls Solicitor – https://www.murielwalls.ie [https://www.murielwalls.ie/] Timestamps / Chapter Markers 0:00 – Recap of Part 1 & intro to Part 2 1:20 – Cohabitation code basics (2 yr + child, 5 yr no child) 4:10 – Redress scheme & rights of cohabitants 7:00 – Drafting a cohabitation agreement – why it matters 10:45 – Remarriage, succession rights & the one‑third rule 14:30 – Tax: joint vs. single assessment, child‑care tax credit 18:15 – Gift tax on cohabitant vs. spouse 21:40 – Prenuptial agreements for older couples; enforceability 26:00 – Updating life‑insurance & death‑in‑service benefits 29:55 – When to use a professional trustee (cost considerations) 33:40 – Common post‑divorce financial regrets 36:20 – Q&A: “What should I have known before divorce?” 39:00 – Closing remarks & teaser for next episode (Collaborative Practice) 👍Like if you found the tax and co‑habitation advice useful. 🔔Subscribe and turn on notifications for the next episode on collaborative practice. 📤Share with anyone starting a new partnership after divorce – the right paperwork saves money and heart‑ache. #MasterMyBalance #cohabitation #prenuptialagreement #financialliteracy #financialwellbeing #divorce #collaborativepractice

Ep 34: Life After Divorce: Housing, Money & Rebuilding Financial Security

In Part 1 of a two part episode, host Melissa Boyle sits downwith Dublin‑based family‑law specialist Muriel Walls to unpack the financial steps you should take after a divorce.   What you’ll learn • Full financial disclosure – the Affidavit of Means and why you need payslips, income summaries, mortgage statement and pension snapshot on the table. • What to do with the family home – keeping it for theyoungest child, selling it, or buying out the ex‑spouse; how the bank looks only at the money, not the relationship. • Mortgage & rent logistics – who pays the mortgage if oneparent stays, the other rents, and realistic budgeting for utilities, groceries, and discretionary spend. • Joint accounts & utility split – practical steps toclose joint bank accounts, re‑assign direct debits, and avoid the “grind” of post‑divorce finance. • Spousal maintenance – when it’s realistic, the importance ofreturning to work, PRSI contributions, and the gender gap in Irish pension provision. • Pensions & old‑age pension – why early contributionsmatter, the value of PRSI, and how a stay‑at‑home parent can protect future retirement income. • Life‑insurance & mortgage‑protection – mandatorypolicies for a new mortgage, the extra peace‑of‑mind of a separate life cover, and the pitfalls of waiting until later in life. • Wills & Trusts for children – why a fresh will is essential post‑divorce, the basics of a “will‑trust”, appointing two trustees, and the cost‑benefit of using a solicitor as a professional trustee. Resources • Muriel Walls Solicitor – https://www.murielwalls.ie [https://www.murielwalls.ie/] • Citizens Information – guide to Affidavit of Means & single‑parent child‑care tax credit • Irish Pensions Authority – https://www.pensionsauthority.ie [https://www.pensionsauthority.ie/] Timestamps / Chapter Markers 0:00 – Intro & welcome 1:45 – Muriel’s background 3:30 – Disclosure of assets: Affidavit of Means 6:20 – Deciding the fate of the family house 9:45 – Mortgage payment scenarios (stay‑in‑home vs rent) 12:15 – Joint accounts & utility split – step‑by‑step checklist 15:10 – Spousal maintenance realities & return‑to‑work advice 18:30 – Pensions, PRSI & gender disparity 22:05 – Life‑insurance & mortgage‑protection policies 26:00 – Wills, trusts & appointing trustees 30:20 – Professional trustees – cost considerations (END of Part 1) ✅Like  ✅Subscribe  ✅Hit the bell to get notified when Part 2 drops (covering co‑habitation, prenuptial agreements, tax, and long‑term succession planning). 📢Share this video with anyone navigating a divorce – solid finance knowledge makes the painful process a lot smoother.

Ep 33: Fair Deal and Equity Release: What Families Need to Know Before It's Too Late

In this final part of our three part episode with Tom Murray, Tom shines a light on the dark side of equity‑release and “life‑loan” schemes that are heavily marketed but can destroy Fair Deal eligibility. Tom explains the hidden costs, real‑world case studies, and the steps you should take now to protect yourself and your family.   Takeaway – If you (or a loved one) have taken out an equity‑release loan, act immediately: get a professional assessment, explore repayment or transfer options, and put proper powers of attorney in place if required. Timestamps 0:00 – “The problem then we have with these equity release schemes…” 1:45 – History: equity release predates Fair Deal 3:10 – Compound interest & ballooning balances 5:00 – HSE’s treatment of life‑loans (no mortgage discount) 6:45 – Extreme case: €2 m house + €600k loan →ineligible 9:20 – Why the Nursing Home Loan won’t help with a life‑loan 11:00 – Strategies: early asset transfer, sell & repay, refinance 13:30 – Importance of an enduring power of attorney & financial file 15:40 – Real‑world farmer & business examples 18:00 – Final advice – start the conversation today Helpful links 🔗Book a free 15‑minute strategy call with Tom www.fairdealadvice.ie/contact [http://www.fairdealadvice.ie/contact] 👍 Like this video if you found it useful. 🔔 Subscribe for more financial‑well‑being content. 💬 Comment with your biggest question about the Fair Dealscheme or equity‑release. 📞Need personalized help? Call 086 601 5042 or email advice@fairdealadvice.ie [advice@fairdealadvice.ie].   #FairDealscheme #financialliteracy #retirementplanning #financialwellbeing #FairDealAdvice #mastermybalance

Ep 32: Fair Deal In Practice: Capacity, Paperwork & What Happens in a Crisis

This is the second, of a three part episode with Tom Murray from Fair Deal Advice. Tom dives into the Nursing Home Loan – the HSE’s tool for deferring the 7.5 %/3.75 % asset charge – and explains when and how it can turn a seemingly unaffordable Fair Deal contribution into a manageable weekly payment. Key points covered: Takeaway – If you’re near the asset‑contribution threshold, applying for the Nursing Home Loan can make the Fair Deal scheme viable and protect your estate. Timestamps 10:25 – Why cash‑savings matter for the asset test 11:40 – Introduction to the Nursing Home Loan 13:00 – How the loan defers the 7.5 % asset charge 14:35 – Example: asset contribution > cost of care 16:20 – Using the loan to drop weekly payment below Fair Deal rate 18:00 – Equity‑release life loans – why they complicate things 20:15 – “You can use the loan for that purpose as well and save quite a bit of money.” Helpful links 🔗Tom’s fair‑deal advisory service – www.fairdealadvice.ie [http://www.fairdealadvice.ie/] 👍 Like this video if you found it useful. 🔔 Subscribe for more financial‑well‑being content. 💬 Comment with your biggest question about the Fair Dealscheme or equity‑release. 📞Need personalized help? Call 086 601 5042 or email advice@fairdealadvice.ie [advice@fairdealadvice.ie]. #NursingHomeLoan #equityrelease #lifeloan #FairDeal #retirementplanning #financialliteracy#financialwellbeing #mastermybalance