CU2691 Support Individuals To Manage Their Finances
CU2691 Support Individuals to Manage Their Finances.
1. Know how to access information and advice about financial affairs.
1.1 Identify sources of information and advice about methods and services for managing personal finances.
Citizens Advice Bureau
Financial Services
Financial Advisor (Bank)
Internet websites
Council Offices
1.2 Identify sources of information and advice about benefits and allowances.
County Council Benefits Office www.gov.uk/browse/benefits/entitlement 1.3 Describe the role of others who may be involved in supporting individuals to manage their own finances.
Family
Family members may help the service user with advice in dealing with their finances by acting as a responsible person or as a guarantor if the individual needs financial services explaining to them.
Friends
In times of need friends are often a good source of help or advice and may be able to give direction due to their own finances.
Advocates
An advocate is a person that may deal with the financial side of care for an individual. Their role would be to make payments on the service users’ behalf and can create a plan for the finances of the service user.
Professionals
Professionals are the staff that work with the service user on a day to day basis and are able to help the individual at a closer level when dealing with finances.
1.4 Describe how and when to access specialist expertise about managing financial affairs.
Specialist expertise can be sought in cases where the power of attorney may need to be agreed if the service user is of a mental state that they are no longer able to make decisions for themselves. In this instance the service user will name the person they wish to be their power of attorney then fill in a form available from the courts. This form must be completed by the service user and signed by the service user, the appointed attorney and a witness (normally a solicitor). In instances where the service user is not of a capacity to complete a power of attorney
1. Know how to access information and advice about financial affairs.
1.1 Identify sources of information and advice about methods and services for managing personal finances.
Citizens Advice Bureau
Financial Services
Financial Advisor (Bank)
Internet websites
Council Offices
1.2 Identify sources of information and advice about benefits and allowances.
County Council Benefits Office www.gov.uk/browse/benefits/entitlement 1.3 Describe the role of others who may be involved in supporting individuals to manage their own finances.
Family
Family members may help the service user with advice in dealing with their finances by acting as a responsible person or as a guarantor if the individual needs financial services explaining to them.
Friends
In times of need friends are often a good source of help or advice and may be able to give direction due to their own finances.
Advocates
An advocate is a person that may deal with the financial side of care for an individual. Their role would be to make payments on the service users’ behalf and can create a plan for the finances of the service user.
Professionals
Professionals are the staff that work with the service user on a day to day basis and are able to help the individual at a closer level when dealing with finances.
1.4 Describe how and when to access specialist expertise about managing financial affairs.
Specialist expertise can be sought in cases where the power of attorney may need to be agreed if the service user is of a mental state that they are no longer able to make decisions for themselves. In this instance the service user will name the person they wish to be their power of attorney then fill in a form available from the courts. This form must be completed by the service user and signed by the service user, the appointed attorney and a witness (normally a solicitor). In instances where the service user is not of a capacity to complete a power of attorney