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

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This project will provide important new knowledge and propose changes to policy, practice and legislation that will promote older people's independence and choice in how their financial affairs are managed. The physical and cognitive frailty of aged care facility residents is increasing and their capacity to manage their assets and income is often limited. This study will address financial elder abuse and problems with how decisions are made on behalf of older people. Improving the legislative, policy and practice frameworks that govern the risks, rights and responsibilities of care staff and family members will assist them to appropriately support and protect older people in residential care.