Many family caregivers manage money or property when a loved one cannot. AARP Texas and the advocacy group Texas Appleseed have released a tool kit that can help caregivers safeguard their relatives’ assets and avoid unintended conflicts of interest.
“Managing Someone Else’s Money in Texas” is a series of guides in English and Spanish. Each guide is tailored to a different type of fiduciary, including people who are agents under power of attorney, appointed by a court to be guardians or conservators, named as trustees under revocable living trusts, appointed by a government agency to manage income benefits, or acting as a supporter under a notarized or witnessed agreement.
Money management know-how is critical as the population ages. Already, more than $5 billion in Texans’ assets is controlled by courts and guardians.
To download the guide that best fits your situation, go to protecttheirmoneytx.org.