The Guardianship Tribunal has power to make a financial management order on behalf of a person who is not capable of managing their affairs. The Tribunal can only consider financial management applications about people who have assets in NSW.

A financial manager may make decisions about any aspect of that person’s financial affairs unless the Tribunal has specified that a part of the person’s estate is excluded from management.

The person appointed must be over 18 and suitable for the role. To determine the suitability of a person as a financial manager, the Tribunal may ask the person about their experience managing money, their own financial history and any conflict of interest that may exist.

If there is no person suitable or willing to be the financial manager, the Tribunal can appoint the NSW Trustee & Guardian as financial manager.

A financial manager does not make personal or lifestyle decisions – that is the role of a guardian (whether appointed by a document at a person’s request. The Guardianship Tribunal also has power to make a guardianship order appointing a guardian to make personal or lifestyle decisions on behalf of a person who is unable to make those decisions for themselves.

The most effective way of avoiding the need for an application to the Guardianship Tribunal is to have in place an enduring power of attorney or appoint an enduring guardian so you choose who you wish to manage your affairs and lifestyle decisions when you can’t.

Contact us

We have experience in the preparation of and defence of applications to the Guardianship Tribunal where applications for financial management orders are being sought and have appeared in the Tribunal on numerous occasions.

We are able to take action to seek to overturn the appointment of a financial manager where an appointment has been inappropriately made or where the conduct of an appointed financial manager is contrary to the interests of the grantor or otherwise illegal.

For free initial telephone advice in relation to an application to the Guardianship Tribunal (or opposing an application), an enduring power of attorney or an appointment of an enduring guardian, please call one of our Estate Planning Lawyers on (02) 9525 8688.