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Where am I now? Lawlink > NSW Trustee and Guardian > Manager's Handbook > The Role
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The Role
The framework
The principles to follow
Consulting
What will I have to do?
Do I get paid?
The framework
The Supreme Court of New South Wales or the Guardianship Tribunal has appointed you as the Manager for a managed person. A managed person is someone who has been declared incapable of managing their own financial affairs and who needs someone with legal authority to act on their behalf and in their best interests.
Overseeing you in this role is the NSW Trustee and Guardian, an independent public official who operates under the NSW Trustee and Guardian Act 2009. The NSW Trustee and Guardian provides you with your authority to act as Manager in a document called “Directions and Authorities”. The focus is on authorising and directing Managers and overseeing their performance of their obligations and duties.
You are free to make decisions within the limits of the powers and authorities given to you. NSW Trustee and Guardian will only step in where you act outside those powers or where the decision you make is significantly flawed or clearly against the interests of the managed person.
The principles to follow
As a Manager, you will make the decisions that the managed person would normally have made about managing their money. You become what is called a "substitute decision-maker".
Your decisions about spending and investing the managed person’s money should be carefully considered from a financial viewpoint. You should also make decisions with the aim of maximising the managed person's quality of life. The interests of the managed person come first. It is not your role to preserve assets for the people who may eventually inherit the estate.
The NSW Trustee and Guardian Act 2009 Section 39 sets out the general principles to follow as a substitute decision-maker. Section 39 states:
“It is the duty of everyone exercising functions under this Chapter with respect to protected persons or patients to observe the following principles:
(a) the welfare and interests of such persons should be given paramount consideration,
(b) the freedom of decision and freedom of action of such persons should be restricted as little as possible,
(c) such persons should be encouraged, as far as possible, to live a normal life in the community,
(d) the views of such persons in relation to the exercise of those functions should be taken into consideration,
(e) the importance of preserving the family relationships and the cultural and linguistic environments of such persons should be recognised,
(f) such persons should be encouraged, as far as possible, to be self-reliant in matters relating to their personal, domestic and financial affairs,
(g) such persons should be protected from neglect, abuse and exploitation.”
Consulting
Regular consultation with the managed person on financial matters is highly desirable.
In trying to preserve family relationships – in line with the general principles in Section 39 – you should consider the views of the person’s immediate family and other people closely involved in the managed person’s life and/or the appointed guardian. The views of close friends and the people who will benefit from the managed person's will are also important.
Consultation on all major financial decisions is essential.
What will I have to do?
Some of your activities as a Manager are similar to the activities you undertake in managing your own finances. You will have to:
- collect all income and entitlements due to the managed person
- pay all their expenses and debts
- ensure that all real estate and other assets such as motor vehicles they own are insured. You may also need to take out Workers Compensation or other insurance if carers are employed
- inform relevant authorities such as Centrelink, the Department of Veterans' Affairs and the Australian Taxation Office of any change in the circumstances of the managed person
- keep accurate records of income and expenditure
- lodge tax returns on their behalf
- ensure all their important documents, such as their Will and title documents are in a safe place.
You also have specific obligations relating to the overview of your financial management by the NSW Trustee and Guardian. These are:
- following any directions given by the NSW Trustee and Guardian
- providing NSW Trustee and Guardian with all relevant information relating to the financial affairs of the managed person
- providing security requested by NSW Trustee and Guardian. The chapter in this handbook entitled Working with the NSW Trustee and Guardian has further information on this topic
- lodging annual accounts of your administration of the managed person's financial affairs with NSW Trustee and Guardian
- ensuring that at all times you keep the managed person’s financial affairs separate from your own, including using separate bank accounts.
Do I get paid?
Generally, Managers are not paid for their work. However, with the approval of the NSW Trustee and Guardian, you can be reimbursed for reasonable out-of-pocket expenses incurred in performing your role. You must record all such reimbursements as expenditure in the annual accounts.
There are some exceptions regarding payment for Managers. Payments can be made where, due to the complexity of the managed person's estate, the Manager devotes a large amount of time to financial management or where professionals such as a solicitor or an accountant are appointed. The NSW Trustee and Guardian considers such payments on an individual basis and prior approval for payment must be obtained.
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