A Financial administrator is someone who makes financial and legal decisions for a person with disability who does not have the capacity to make these decisions for themselves. This includes decisions about:

• managing property

• paying bills

• buying things they want or need.

When we appoint an administrator, we may also give them other powers. This can include the power to:

• collect income and other money owed to the person they represent

• invest their money

• lease or sell their property

• run their business

• sign contracts on their behalf

• pay financial support for their children or other dependents.

An administrator may be a:

• friend or relative of the person with disability

• solicitor

• accountant.

We must:

• act honestly, diligently, and in good faith

• exercise reasonable skill and care

• discuss anything about a supported decision with the person in a way they can understand and that will assist them to make the decision

• in your role, not assist the person to conduct any illegal activity

• not coerce, intimidate or in any way unduly influence the person into a particular course of action.

We must also act in accordance with the general principles in the Act.

These include that a person who requires support to make decisions, should be provided with practicable and appropriate support to enable them, as far as practicable in the circumstances, to:

• make and participate in decisions affecting them

• develop their decision-making capacity.

All the powers of an administrator are outlined in sections 46, 51 and 52 of the Guardianship and Administration Act 2019

Independent Financial Administrators are usually appointed through VCAT.

The goal of MoneyMasterminds from a financial administration point of view is to provide both clients and loved ones with the customer service usually offered by business, and the personal care needed for this industry. We fully understand the implications for a client if they do not receive the services they need, or access to their funds in a timely fashion, so that they live their best life. We look forward to providing the peace of mind that the aspects of a plan will be taken care of, allowing all the opportunity to concentrate on providing the participant with everything they need.