Financial Caregiving

June 1, 2021

Considering a financial caregiver?

Each year, older Americans lose an estimated $2.6 billion or more annually due to elder financial abuse and exploitation. While still healthy, you or your loved one should choose a trusted family member or friend to serve as fiduciary — a legal guardian of one’s assets. There are several options when considering a fiduciary.

The Consumer Financial Protection Bureau also provides additional information and easy-to-understand guides to help you decide what works best for your situation.
  • Power of attorney: Guides for those who have been named as a power of attorney to make decisions about money and property for someone else. 
  • Court-appointed guardians: Guides for those who have been appointed by a court to be guardians of property or conservators, giving them the duty and the power to make financial decisions on someone’s behalf.
  • Trustees: Guides for those who have been named as trustees under revocable living trusts.
  • Government fiduciaries: Guides for those who have been appointed by a government agency to manage another person's income benefits, such as Social Security or Veterans Affairs benefit checks. 

FREE Financial Caregiving Education 

Explore Everfi’s Financial Caregiving content playlist to learn more about the responsibilities of caring for another person’s financial wellbeing. Members of any age can take the opportunity to become more informed about this important and timely subject. Self-paced topics include:
  • Preventing Elder Financial Abuse
  • Reporting Elder Financial Abuse
  • Planning for a Financial Caregiver
  • Expectations of a Financial Caregiver
  • Becoming a Financial Caregiver
If you are a victim or suspect a loved one is the victim of financial abuse, report it. Search elder financial abuse and you’ll find there are many local, state and federal government agencies that offer assistance. In Ventura County, call the 24-hour hotline at 805-654-3200.