Managing Someone Else's Money - Help for agents under a power of attorney - Consumer Financial Protection Bureau - Bog

Why read this guide?
Like many people, you may never have been an agent under a power of attorney before. That's why we created Managing someone else's money: Help for agents under a power of attorney. This guide will help you understand what you can and cannot do in your role as an agent. In that role, you are a fiduciary. For this guide, a fiduciary is anyone named to manage money or property for someone else. You'll find brief tips to help you avoid problems and resources for finding more information.
This guide is for family and friends serving as an agent, not for professionals or organizations. The guide does not give you legal advice. State laws vary, so you may have additional duties. Talk to a lawyer if you have questions about your duties