Financial Administration

A financial administrator can be an individual or organisation, who manages the financial affairs of another.

 

When a member of the community is having difficulty managing their finances or is unable to make important financial decisions because of disability or illness, a financial administrator can be appointed to help.

 

The Tasmanian Civil and Administration Tribunal appoint the Public Trustee as a financial administrator to help a person manage their finances. This is a legal decision and is called a Financial Administration Order.

 

At the Public Trustee we are proud to help people from all over Tasmania manage their finances. Our team is experienced in supporting people from all different backgrounds and are experts in investments, financial planning, property management, taxation, and legal matters.

 

As an administrator, we will work with our clients to help them manage their money.

It is our job to make sure that:

  • their bills and debts are paid;
  • they are receiving the correct income;
  • their financial well-being is being protected;
  • their budget respects personal goals and wishes; and
  • Support them to become capable of managing their own finances.

 

Are there laws involved?

The Guardianship and Administration Act 1995 sets out the powers and duties of a Financial Administrator. This law has states what an administrator can do and how an administrator must act.

As your administrator we must:

  • Act and make decisions that are in our client’s best interests;
  • Support our clients to manage their own finances as much as possible; and
  • Consult with our clients and take into account their wishes wherever possible.

 

For more information on How an administrator is appointed in Tasmania?  Click here

If you would like to know more about a financial administration order, please fill out our CONTACT US FORM.

Alternatively, please contact your nearest Public Trustee branch.