By law, there are two main ways to manage the finance of mentally incapacitated persons:
1. Appoint a guardian of financial management (through application to the Guardianship Board);
2. Appoint a committee of the estate (through application to the High Court)
The financial jurisdiction of the Guardianship Board is limited, with the guardianship restricted to access to the mentally incapacitated person's bank deposit or cash only. Exclusive of the guardianship's scope of financial management powers include land property management, shares, securities, investment products, accident or occupational injury claims, property or investment disputes, application for grant of probate or letters of administration of an estate, monetary claims or other legal proceedings. In addition, the maximum monthly sum that can be authorised by the Guardianship Board is limited to HK$11,500 (as of the third quarter of 2011), and the sum can only be used to support the daily life necessities of the mentally incapacitated person.
Family and relatives of the mentally incapacitated person may apply, or retain a lawyer to apply, for an order of appointment of a financial manager to the High Court, under Part II of the Mental Health Ordinance (Cap.136). In this case, the financial manager known as the 'Committee' will have a wider scope of financial power to help manage assets for the mentally incapacitated, such as the selling or leasing of the subject's land properties, shares or investments, or litigation issues. The ordinance doesn't impose a ceiling to the monthly expenses allowed for the maintenance of the mentally incapacitated person or his family members, but the court reserves the right to impose the maximum limit wherever necessary. In the Guardianship Order issued by a court, details regarding the financial powers of the committee are listed, and the scope is limited to maintaining the financial affairs of the mentally incapacitated person, exclusive of welfare such as decisions on residence, daily maintenance or medical treatment.
Special Thanks: Guardianship Board, Hong Kong
