59Application of money of managed estates

59 Application of money of managed estates

59 Application of money of managed estates

The NSW Trustee may apply money of the estate of a managed person towards any one or more of the following purposes—

(a) the payment of the debts and engagements of the person and the repayment of expenses chargeable to the estate of the person,

(b) in the event of the death of the person, the person’s funeral expenses,

(c) the maintenance of the spouse of the person or any child, parent or other person dependent upon the person, or for whose maintenance the person provided when not a managed person or would be expected to provide,

(d) the payment of all proper costs incurred in or about the care, protection, recovery, sale, mortgage, leasing, disposal and management of the estate of the person,

(e) the preservation and improvement of the estate of the person,

(f) the taking up of rights to issues of new shares, or options for new shares, to which the person may become entitled by virtue of any shareholdings,

(g) the maintenance (including future maintenance), clothing, medicine and care, past and present, of the person.