The Consumer Financial Protection Bureau’s (CFPB) new guides to caring for a loved one are free and cover four areas of financial responsibility: court-appointed guardian; trustee; power of attorney and government fiduciary for the beneficiary of Social Security or Veteran Affairs.
Each of the four areas is distinct and carries significant requirements and obligations.
Follow this link for the CFPB guides:
https://www.consumerfinance.gov/consumer-tools/managing-someone-elses-money/
Also, when you click on the link you will have the ability to view a 5 minute video with excellent information. I encourage you to view the video.
Handling someone else’s money as a financial caregiver comes with a great deal of responsibility, both ethically and legally.
Make certain you are prepared for the obligations.
The guidelines state clearly: “The guides are not intended to provide legal advice or serve as a substitute for your own legal counsel.”
Working To Preserve Your Wealth and Protect Your Future…in a Constantly Changing World
Please read my full Disclaimer and How I Can Help You
Visit my website: www.attorneybarbaradalvano.weebly.com for over 290 articles; free webinar information and printable infographics