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Sage Social Science Thesaurus

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... > criminology > law and society > psychology and law > forensic assessment in civil and criminal cases > financial capacity

... > law and courts > law and society > psychology and law > forensic assessment in civil and criminal cases > financial capacity

Preferred term

financial capacity

Definition

Financial capacity (FC) is a medical-legal construct that represents the ability to independently manage one's financial affairs in a manner consistent with personal self-interest. FC thus involves not only performance skills (e.g., accurately counting coins/currency, completing a check register, paying bills) but also the judgment skills that optimize financial self-interest.From a legal standpoint, FC represents the financial skills sufficient for handling one's estate and financial affairs and is the basis for determination of conservatorship of the estate (or guardianship of the estate, depending on the state legal jurisdiction). [Source: Encyclopedia of Psychology and Law; Financial Capacity]

Broader concept

forensic assessment in civil and criminal cases

Belongs to group

concepts

URI

https://concepts.sagepub.com/social-science/concept/financial_capacity

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