Financial management orders

About financial managers

A financial manager is responsible for looking after all (or part) of another person's financial and legal affairs, including:

• cash
• shares
• real estate
• superannuation
• business interests
• motor vehicles
• debts.

A court of tribunal will appoint a financial manager that best suits the situation and needs of the individual. This could be a:

Private financial manager – a family member, friend or Trustee company (more than one person can be appointed to make decisions together) or

NSW Trustee and Guardian –if no family member or friend is willing or able to take on the role of private financial manager, then the court or tribunal will appoint us to manage all, or part, of the person’s financial and legal affairs.

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Video transcript

NSW Trustee and Guardian Estate and Financial Management services

This is New South Wales Trustee and Guardian, a government agency working to protect, promote and support the rights, dignity, choices and wishes of the people of NSW.
 

Our Estate Management division delivers empathetic, customer-centred financial management services to some of the state’s most vulnerable people.

 

We provide oversight to people who are appointed to privately manage the finances of a loved one or friend. And can be appointed by a court or tribunal to make legal and financial decisions for people who are unable to make decisions on their own  due to disability, injury, illness or financial abuse.
 

Estate Management Client Service Offcers look after customers by:

• Working with the customer, family, support people and service providers.
• Developing budgets and savings plans.
• Paying bills and allocating allowances
• Buying goods and services.
• Managing income, super and assets.
• Managing debts and tax returns.
   

Where possible, Client Service Officers also help customers to become more independent by supporting them to improve their capability to work towards making their own decisions.
 

Guided by the principles of the New South Wales Trustee & Guardian Act 2009, our customers’ needs and welfare are at the centre of our philosophy, decisions making, operations and ideas.
 

Find out more about Estate Management and NSW Trustee and Guardian.

Get support and guidance

If you're a private financial manager or if you have a financial manager, it may seem like a complex process to understand. We have step-by-step guidance and resources to assist you.

About decision-making capacity

'Capacity' is your ability to make decisions for yourself.

It means you can show that you understand the situation, facts, information and consequences of your choices. This includes weighing up the risks and benefits and can clearly communicate consistent or stable choices to others. If you can't follow these steps to make your own financial decisions, you may be considered to:

• lack capacity due to disability, including intellectual disability, dementia, brain injury or mental illness
• temporarily lack capacity, for example if you’re in a coma following an accident
• be able to make some decisions but not others.

Your capacity to make financial decisions includes:

• managing accommodation, for example, maintaining a house, renting or boarding
• general banking, including making sure you have money to buy what you need
• paying bills for services such as water, electricity, gas and phone
• buying food and clothes
• deciding what things to buy and sell, including important items such as cars and investments
• whether to take legal proceedings to protect or recover your property or ensure a property settlement under family law or make a claim for interest in a deceased estate.

Applying for a financial management order

If you’re concerned for the welfare of another person having serious difficulty managing their own financial affairs, you can apply for a financial management order. In most cases, an application is made by a:

• family member
• close friend
• social worker
• healthcare professional.  

A court or tribunal assesses any application to decide a person’s capacity to make their own financial decisions.

You can make an application for a financial management order to the Guardianship Division of NSW Civil and Administrative Tribunal (NCAT) or the Supreme Court of NSW.

NCAT can appoint an individual person or NSW Trustee and Guardian to be a person’s financial manager under a financial management order.

As separate organisations, NCAT make their decisions independently of NSW Trustee and Guardian.

Doctors, social workers and other health care professionals can apply for an order to the Mental Health Review Tribunal.

Request a review of a financial management order

To ask for a review of your financial management order, you need to:

• contact the organisation that made your financial management order to discuss your situation before making an application:
  • Guardianship Division of the NSW Civil and Administrative Tribunal (NCAT)
  • Mental Health Review Tribunal 
  • Supreme Court of NSW
• provide evidence that you can manage your own financial affairs – this can be provided in writing by a doctor, psychologist or social worker.

NCAT has more information on requesting a review.

Request a review of a financial management order decision

If you disagree with a financial management decision made by NSW Trustee and Guardian, you can request a formal review of the decision. 

Changing my financial manager

If you would like to change your financial manager, you need to:

• contact the organisation that made your financial management order to discuss your situation before making an application:
  • Guardianship Division of NCAT
  • Supreme Court of NSW 

Resources

Our Financial Management Information Handbook will help you to understand who we are and how we will assist you to manage your financial affairs to ensure your needs are met.