Financial administration

What is Financial Administration?

Sometimes in life, an adult needs assistance with their financial affairs. This may be due to an intellectual disability, psychiatric illness, acquired brain injury or an age related illness. Without support, the adult’s needs may not be met or they may be vulnerable to exploitation or neglect.

For example, an adult may not budget effectively to meet their needs, adequately insure their car or home or apply for their full government pension benefits. The Public Trustee can assist by acting as Financial Administrator or Financial Attorney.

The Public Trustee's friendly and experienced staff consider the unique circumstances of each client and we tailor our services to meet individual needs.

As the largest and most experienced administrator in Queensland, the Public Trustee is uniquely placed to meet the diverse needs of Queenslanders.

The Public Trustee is permanent, experienced and impartial. We never go on holidays or get sick and we are here throughout an adult's life to provide support as required.

The Public Trustee believes in serving the interests of our clients with discretion, compassion and empathy. We are committed to consulting with our clients, their families and their carers. The Public Trustee protects the interests of others in an impartial yet caring manner.

The Public Trustee as Financial Administrator or Attorney

The Public Trustee has extensive experience and expertise in acting as administrator and financial attorney. We provide our clients with access to the following services:

Personal Trust Officer

A personal Trust Officer  assists each client with the management of their financial affairs. The Trust Officer can be contacted directly by telephone, email or in person by appointment. The Trust Officer is also supported by a range of professionals to achieve the best possible outcomes for each client. This includes experts in investments, financial planning, property management, taxation and legal matters.

Financial Management Plan

With an understanding of an individual’s views and preferences, we will build a personal financial plan (budget). The plan will detail all income and expenses as well as future capital expenditure. It will support their lifestyle and if their circumstances change, we will work with them to change their plan.

Financial advice can also be provided as part of the plan, if required.

In this case, an individual’s funds can be invested to provide future income and help maintain quality of life.

We will review this plan at least once a year. If there are any changes, we will discuss these changes with that individual and/or their support network before implementing them.

The Public Trustee is bound to ensure we manage finances effectively and responsibly.

Payment of accounts and bills

We can pay some or all of an individual’s bills. This includes accommodation, living expenses, insurance, registration, rates and medical expenses. We’ll also make sure considerations are included in the budget so funds are available when required.

Income and investments

Part of our service is to ensure that our client receives their full entitlements, such as Centrelink benefits. As required, we collect and account for all income including pensions, rent, dividends from shares, interest from bonds, and any other investments.

Statement of account

The Public Trustee maintains clear and accurate records, including receipts of all action taken on the individual’s behalf. We will provide annual financial statements showing:

  • Income received
  • Bills paid
  • Assets and liabilities

If there are other financial investments, investment income is also reported via regular investment statements. 

Impartial and permanent

The Public Trustee is permanent and impartial and we’ve been serving Queenslanders for over 103 years. As an impartial Administrator or Attorney we will always act only in the client’s interests.

Disability support officer

Our Disability Support Officers are qualified Occupational Therapists who provide specialised expertise and advice to Trust Officers on matters such as:

  • Specialist medical equipment
  • Home and vehicle modification
  • Accommodation support services
  • Government and non-government disability services

Fees

The Public Trustee charges fees for acting as Administrator or Financial Attorney. The fees are based on the level of service provided to each client. However, our services are provided to all Queenslanders irrespective of whether they can afford the actual cost of the services provided. See Fees and Charges for more information.

How is an administrator or guardian changed?

The appointment of an administrator or guardian can be reviewed by the Queensland Civil and Administrative Tribunal. At the review hearing QCAT can decide that

  • the current appointee will continue as administrator or guardian
  • a different person should be appointed as administrator or guardian
  • the adult does not need an administrator or guardian any more.

Where the Public Trustee has been appointed as your Administrator you can ask QCAT to have a hearing and review the Public Trustee’s appointment. To get the review process started you will need to fill out the Application for administration/ guardianship appointment or review.  

For more information please visit the QCAT website

 

Further information

Our staff are available to discuss our services in greater detail. You can call us to answer any questions you may have toll free on 1300 360 044. You can also obtain further information on our Administrator service and other services online.

The Public Trustee has extensive experience and expertise in acting as administrator and financial attorney.

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Last published: 17/12/2019 1:42:18 AM