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SOURCE ROOM

Managing someone else’s money (guides for financial caregivers)

Consumer Financial Protection Bureau (CFPB)

Claims Supported by This Source

  1. Millions of Americans manage money or property for family members who are unable to pay bills or make financial decisions. The CFPB provides plain-language guides for this purpose.
  2. The guides are divided into four roles: agents named in a power of attorney, court-appointed guardians, trustees of a revocable living trust, and government-appointed representative payees.
  3. For those preparing for a time when they might need help managing their money in the future, there is a guide to understand the options.
  4. The guides are not legal advice and are not a substitute for your own lawyer.

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