Managing someone else's finances

When you can manage someone else's finances

BSL Support

You must have legal authority to manage someone else's money.

To have legal authority:

  • You must have the permission from the person whose money you are managing
  • The person, of adult age must have the mental capacity to give their consent.

What happens if the person does not have mental capacity?

If the person does not have the mental capacity, you will need to get consent from:

  • The Department of Works and Pensions if you only need access to their benefits or
  • The Court of Protection if the person has other property and assets.

Mental Capacity

The Mental Capacity Act 2005 applies to anyone:

  • Aged over 16
  • In England and Wales
  • Who lacks the capacity to make decisions about their life.

It affects anyone who works with or for these people, including:

  • Family
  • Friends
  • Carers
  • Health and social care professionals.

It covers all major decisions such as:

  • Finances
  • Social care
  • Medical treatment
  • Research and
  • Everyday arrangements.