Managing Older People's Financial Assets in Aged Care Facilities: The Intersection of Legal and Care Requirements and Financial Management Practices (2006-2009)

Effective financial management is critical for residents of aged care facilities to have choices in their lives. This study explores how aged care facilities respond to financial abuse and help residents manage their assets under current legal and care requirements. Review of relevant legislation, interviews and a national survey of senior facility staff will identify the competing rights and obligations staff need to negotiate. New knowledge will be gained about related problems with financial management and effective ways of resolving them. The study will provide crucial evidence for developing new protocols and policy, practice and legislative change to promote older people s independence and assist their families and care providers.