Financial capacity in older adults: a growing concern for clinicians

Gardiner, Paul A., Byrne, Gerald J., Mitchell, Leander K. and Pachana, Nancy A. (2015) Financial capacity in older adults: a growing concern for clinicians. Medical Journal of Australia, 202 2: 82-85. doi:10.5694/mja14.00201

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Author Gardiner, Paul A.
Byrne, Gerald J.
Mitchell, Leander K.
Pachana, Nancy A.
Title Financial capacity in older adults: a growing concern for clinicians
Journal name Medical Journal of Australia   Check publisher's open access policy
ISSN 1326-5377
0025-729X
Publication date 2015-02-02
Year available 2015
Sub-type Article (original research)
DOI 10.5694/mja14.00201
Open Access Status File (Author Post-print)
Volume 202
Issue 2
Start page 82
End page 85
Total pages 4
Place of publication Strawberry Hills NSW, Australia
Publisher Australasian Medical Publishing
Language eng
Abstract Older people with cognitive impairment and/or dementia may be particularly vulnerable to diminished financial decision-making capacity.
Formatted abstract
Older people with cognitive impairment and/or dementia may be particularly vulnerable to diminished financial decision-making capacity.

Financial capacity refers to the ability to satisfactorily manage one's financial affairs in a manner consistent with personal self-interest and values.

Impairment of financial capacity makes the older individual vulnerable to financial exploitation, may negatively affect their family's financial situation and places strain on relationships within the family.

Clinicians are often on the front line of responding to queries regarding decision-making capacity, and clinical evaluation options are often not well understood.

Assessment of financial capacity should include formal objective assessment in addition to a clinical interview and gathering contextual data.

Development of a flexible, empirically supported and clinically relevant assessment approach that spans all dimensions of financial capacity yet is simple enough to be used by non-specialist clinicians is needed.
Q-Index Code C1
Q-Index Status Confirmed Code
Grant ID 511119
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2016 Collection
School of Public Health Publications
School of Medicine Publications
School of Psychology Publications
 
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