Money After 50
Helping Another Person Manage Their Money
Informal and formal arrangements are used by family and friends to help
another person manage their money. Many informal methods, such as writing checks
for another person to sign or mailing bills at the post office, are easy to do.
Formal methods, such as writing a durable power of attorney, require legal
assistance.
To learn your choices if you need to help an adult relative manage their
money or if you make plans for a relative or friend to help you manage your
money should you become incompetent, read the following fact sheets.
Informal Arrangements - Helping Others Arrange Their
Finances Series - FSHEC 94
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