Guides for Managing Someone Else’s Money
Co-authored by Sharon L. Palmer, ACP, FRP
Being named to take care of someone else’s money – whether as a trustee of a trust, as a court appointed guardian, or as an agent under someone’s durable power of attorney – can be a tremendous responsibility.
It’s easy for the person assigned to that task to become confused about their duties, responsibilities, and the legal requirements that come along with that task. If one adds all that to the actual day-to-day workload of managing someone’s financial affairs, one can quickly become overwhelmed.
With that in mind, the U.S. Consumer Financial Protection Bureau, in coordination with The Florida Bar and other governmental agencies, created an excellent set of comprehensive guides for those acting as another’s fiduciary.
If you’ve been appointed with this important duty, we encourage you to check out our infographic directing you to the Bureau’s fiduciary guides.
For any questions you have on the information included in these guides, or for assistance dealing with your specific situation, please call our office at (904) 807-2183.Share