chapter  4
19 Pages

Capacity to make decisions about own finances

ByTracey Ryan-Morgan, Alex Troup

Financial abilities range from basic skills of counting coins or currency to conducting cash transactions, managing a checkbook and bank statement. The degree of capacity required will differ as between managing day-to-day affairs, managing the complexities of a personal injury claim and managing a large financial settlement, such as that awarded as damages. The amount and frequency of allowance needs to be titrated to suit the needs of the individual simultaneously meeting the need for greater independence whilst managing the risks of restricting financial freedoms and potential for exploitation. Financial skills training might aim to support her to take responsibility for making specific purchases during each week in order to contribute to the running of the family household, such as buying all the milk or bread that is required. Final opinion was that there was insufficient evidence to rebut the presumption of capacity to manage property and financial affairs.