Title: Mental capacity and personal finances: a qualitative study of assessment and support
Funder: Department of Health and Social Care

Abstract: Research questions What are (a) the legal, policy, professional and practice frameworks, and (b) the public information available to guide financial capacity assessments and support? What are the experiences of social care professionals, older adults and their families of assessing and supporting people with diminished capacity in the management of their finances? How fit-for-purpose are (a) the professional frameworks and (b) the public information available to guide financial capacity assessments and support? Background &ldquo;Financial capacity&rdquo; is the ability to manage personal finances. It is one of the most important skills a person needs to be an independent member of society, but this is problematic because many people are financially illiterate. It is particularly important for older adults, who in addition to managing day-to-day finances, are required to make major financial decisions associated with later life. However, financial capacity is highly sensitive to changes in cognitive abilities, and these changes are stigmatised and often hidden by families. People with diminished financial capacity are vulnerable to financial abuse. In England and Wales, the dominant legal framework to guide financial capacity assessment and support is the Mental Capacity Act 2005. It is not clear how appropriate the Act is for assessments of financial capacity, what methods are used to assess financial capacity, or how professionals support someone with diminished financial capacity. The importance of discussing personal finances is becoming increasingly recognised and publicised in society, but very little is known about how older adults and their families discuss personal finances and attempt to mitigate the challenges of declining financial capacity. Aims & Objectives To produce an analysis of (a) legal, policy, professional and practice frameworks relating to financial capacity assessment and support; and of (b) information available to older adults and their families concerned about declining financial capacity. To generate primary data and analysis about the experiences of social care professionals, older adults and their families of assessing financial capacity and supporting someone with diminished capacity in the management of their finances. To synthesise the documentary analysis and primary research data, drawing on theoretical understandings of financial capacity. This will allow us to critically examine the fitness-for-purpose of (a) the available frameworks and methods applied in practice, and (b) the information available to the public. Methods Case study approach, in three work streams: WS1: Overview of policy, legislation, professional codes of conduct, and public information that guide financial capacity assessments and support; WS2: Qualitative interviews with social care professionals (n=40), older adults and families (n=5 dyads) focusing on their experiences assessing and supporting people with diminished capacity in the management of finances; WS3: Critical synthesis of findings from WS1 and WS2. Timelines for delivery December 2020 - May 2022 Impact and dissemination report for social care directors and managers seminar for practitioners concise resource for older adults and families signposting to support for managing declining financial capacity lay summary for older adults academic journal articles: document review; main findings synthesis national conference presentations (academic and practice)

Lay abstract: Aims This research focuses on what happens when older adults experience difficulties in managing their money. It aims to determine how social care practitioners, older adults, and their families attempt to address these difficulties, and how older adults and families can be supported. It will provide evidence for social care practitioners to develop their skills, and will provide an information resource for older adults and families who may be looking for help. Background The ability to manage personal finances is one of the most important skills a person needs to be an independent member of society. However, many people lack the necessary skills and understanding, and over-estimate their own abilities. It is particularly important for older adults, who in addition to managing day-to-day finances, are required to make major financial decisions associated with later life, including management of income, consumption, savings and debt, state benefits, housing, and care. However, the ability to manage money is highly sensitive to changes in thinking and reasoning skills, which may occur natural through ageing, or through illness. These changes are stigmatised and often hidden by families. People who struggle to manage their own money are particularly vulnerable to financial abuse. We know very little about how older adults are supported to manage their money, either by social care professionals or by families. Design and methods We will work with a range of key organisations in Greater Manchester. As a very diverse region, the lessons we learn in Greater Manchester will be relevant to the whole of the UK. We will: Review the information available to guide social care professionals in supporting older adults to manage their finances Review the information that is available to older people and their families who are looking for help Interview social care professionals about their experiences of supporting older adults who need help managing their finances Interview older adults and family members about their experiences and perspectives. Patient and public involvement To prepare for this project, we consulted with 52 older adults and social care professionals. Their recommendations have helped us think about ways to recruit and involve people so that they feel comfortable talking about such a personal topic. We will work with a group of older adults and carers throughout this project to: help develop interview questions comment critically on the emerging findings of the research support the production of a resource for older adults and families Dissemination A summary information resource for older adults and their families A lay summary for older adults A report for social care directors and senior managers A seminar for social care practitioners Two academic journal articles: document review; main findings synthesis Two national conference presentations (academic and practice)

Research activity codes: 7.1 INDIVIDUAL CARE NEEDS
Health categories: GENERIC HEALTH RELEVANCE