Guidance for Agents Appointed Under Powers of Attorney, Representative Payees and Others

November 18, 2013

Diane Lutwak, Esq.
Director, Elderly Project

During the first week of November I attended the very educational and stimulating National Aging & the Law Conference in Washington, DC.  I returned with lots of new ideas and  information to share on topics of interest to all of us.  One item in particular that I would like to highlight is a set of four informational booklets for people who are “Managing Someone Else’s Money”, released by the federal Consumer Financial Protection Bureau

Each guide is addressed to a different type of financial caregiver, including, of particular relevance and importance to our practice, a guide specifically for agents appointed under a Power of Attorney, available here.

Another one of the four guides of particular interest is the one for “government fiduciaries” – also often known as “Representative Payees” - for cash benefits from the Social Security Administration (“SSA”) and Veterans Administration (“VA”).  View Guide here.

If you are working with seniors who have a family member or friend in their lives who is acting as agent under a Power of Attorney or as Representative Payee of SSA or VA cash benefits, I recommend providing the agent with access to these very helpful guides.

Each of the four free guides are designed to help different groups of financial caregivers understand their duties and responsibilities.  In addition to Powers of Attorney and Representative Payees, the other guides are addressed to court-appointed guardians and trustees.  To view and download the full set of four guides, please click here. To order paper copies of the guides, please click here.