Financial Administration

Financial Administration

A financial administration order or financial management order is a legal process designed to help protect people who may be unable to manage their own finances. The process is usually started by a person who cares deeply about the wellbeing of someone else, known as a "protected person".

The person applying for the order may be a family member, friend, social worker, or healthcare professional.

If the application is approved, a person who will be known as the ‘financial administrator’ or ‘financial manager’ is appointed. The financial administrator then manages the protected person’s finances. Financial administrators are generally appointed by a state or territory court or tribunal. The appointed person:

• Must be at least 18 years old; and
• Can be a close relative, trusted family friend or a Public Trustee.

The order will detail the type of authority the financial administrator has and the duration of their appointment.

If you have been appointed as a financial administrator, visit your nearest branch to lodge a Financial Administration Order. We will require:

• The original or a certified copy (certified by a Justice of the Peace, Commissioner of Declarations or Solicitor) of the financial administration order; and
• Proof of identity of the financial administrator.

When a Financial Administration Order is lodged with us, we will automatically cancel any existing third party authority or power of attorney on the account.

Contact us if you have any questions or are unable to attend a branch.

State and Territory based Administrative Tribunals 

State and territory-based administrative tribunals are bodies that derive their authority from the relevant state-based legislation and hear and determine applications for guardians and financial administrators.

The State and territory-based bodies are set out below: