As an administrator, you need to be aware of all forms of income the protected person is entitled to. You must make sure all entitlements are received.
You will also need to find our if any pensioner concessions are available, such as rebates on council and water rates, and electricity and phone bills.
Many protected people are entitled to pensions - especially the Age Pension or the Disability Support Pension.
It is your responsibility to make sure they receive all of their entitlements, including:
- basic pension
- rent assistance
- Commonwealth Seniors Health Card
- Pensioner Concession Card.
There are other allowances available such as mobility allowance, sickness allowance and carer payments - contact Centrelink to make sure all entitlements are being received.
You have the responsibility to act as trustee of the protected person's estate when it comes to investing money.
There are specific requirements for investing money as set out in the Trustee Act 1936.
Before investing a protected person's money, you should seek independent professional advice.
You should formulate an investment strategy based on the advice of a competent, independent person. The cost of this advice may be charged to the estate.
Public Trustee will require evidence of an annual review of trust investments and may ask for a copy of the investment strategy.