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Assessing financial competence

Version 2 2024-06-13, 07:37
Version 1 2014-10-27, 16:27
journal contribution
posted on 2024-06-13, 07:37 authored by L Webber, R Reeve, M Kershaw, J Charlton
Some people have cognitive impairments that may reduce their capacity to manage their own financial affairs. The legal decision to limit a person's right to manage his or her own finances depends, in part, on an assessment of financial competence. Currently, tribunals and courts may receive information from a variety of different sources (e.g., family members, general practitioner, psychologist, social worker etc.) and have to reconcile this information in order to make guardianship decisions. The first aim of this article is to critique contemporary methods, procedures and practices for assessing financial competence. The second aim is to suggest a standard assessment framework that could be employed by tribunals and courts to help them evaluate the status of a person's financial competence.

History

Journal

Psychiatry, psychology and law

Volume

9

Pagination

248-256

Location

Melbourne, Vic.

ISSN

1321-8719

eISSN

1934-1687

Language

eng

Publication classification

C1 Refereed article in a scholarly journal

Issue

2

Publisher

Australian Academic Press Pty Ltd