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Disaster Recovery: A Guide to Financial Issues

Publisher: AICPA
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Description

To help victims of natural and man-made disasters recover financially from loss, the American Institute of Certified Public Accountants (AICPA) and the National Endowment for Financial Education (NEFE) have developed a consumer resource booklet entitled Disaster Recovery: A Guide to Financial Issues.

This guide is a resource for anyone who may feel overwhelmed by the financial issues surrounding a natural or man-made disaster. Additionally, CPAs can work hand-in-hand with disaster recovery professionals to assist the public by guiding them through financial decisions they must address.

This booklet may also be viewed in its entirety at the American Red Cross website by clicking here.

In it, you'll find suggestions on steps to take immediately following a disaster, what to do in the initial weeks and months, and how to begin planning for the future. Specifically, the following topics are covered:

  • Restoring household stability
    From securing property to paying bills, survivors face the immediate challenge of restoring normalcy to their households and lives. This first section provides information concerning emergency housing, cash flow and employment.
  • Managing an Injury or Disability
    Includes information concerning medical and disability benefits. It also includes a checklist for survivors whose children were disabled by a disaster.
  • Financial Decisions After a Death
    Addresses both initial choices and long-term decisions survivors must make when dealing with the death of a loved one.
  • Stabilizing Your Finances
    From income to expenses, explains how survivors can regain control of finances by assessing where they stand and making future plans.
  • Lawsuits and Other Settlements
    This section helps survivors weigh the advantages and disadvantages of filing a disaster-related lawsuit. It also explains how to evaluate manage settlements.
  • Looking Ahead
    Future financial needs, job retraining, and education are all addressed in this section of the guide.
  • Planning Reminders
    This final section provides survivors with tips to help them prepare for the possibility of a future emergency.

Booklets come in packets of 10.

Table of Contents

Excerpts

Untitled Document

Introduction

When a natural or other disaster strikes, life suddenly changes. Routines are shattered, jobs disrupted, and property destroyed. Loved ones may be injured or lives lost.

If you have experienced disaster, you know firsthand the emotional toll that it takes—shock, confusion, grief, and fear that catastrophe could strike again. Emotional recovery can take months, even years.

Disasters also take a financial toll. This booklet is written to help you regain a sense of financial balance following a disaster by offering suggestions on steps to take immediately, what to do in the initial weeks and months, and how to begin planning again for the future. The booklet may not answer all your questions but it will answer some of them and, we hope, help minimize the financial impact of the disaster.

See also:
http://www.redcross.org/services/disaster/beprepared/FinRecovery/

Copyright © American Institute of Certified Public Accountants, Inc. All Rights Reserved
January 2007

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Product# 017231
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