Managing Someone Else’s Money in Georgia: Help for Financial Caregivers September 14, 2017

Managing Someone Else’s Money CFPB INITIATIVE: Released a set of national guides called Managing Someone Else’s Money in 2013 User-friendly “how-to” guides for four types of fiduciaries: agents under powers of attorney; guardians; trustees; Social Security representative payees and VA fiduciaries IL webinar 2

Who are these guides designed to assist? Anyone named to manage money or property for someone else Agents under Power of Attorney Court-Appointed Conservators Representative Payees and VA Fiduciaries Trustees under a Revocable Living Trust IL webinar 3

What’s in the guides? Walk fiduciaries through their duties Tell them how to watch out for scams and financial exploitation and what to do if their loved one is a victim Tell them where to go for help IL webinar 4

State guides: how are they different? Each state has unique laws and practices Examples of state-specific information about laws and practices: Georgia law requires that conservators (guardians of property) make a plan for managing the money and property, and file it with the court. “Where to go for help” Filled with state and local agencies and service providers for timely, nearby help for financial caregivers Experts consulted: Natalie Thomas, State Legal Services Developer, Division of Aging Services, Georgia Department of Human Services Jamie F. Clark - Jamie Clark, a member of the Alabama and Georgia Bars, has been practicing law for over twenty-five years, specializing in all areas of elder law, and special needs law, including estate planning, probate of wills, guardianships/conservatorships. Jeffrey Williamson - Jeffrey L. Williamson is the founder of J. L. Williamson Law Group, LLC. The firm specializes in elder law, asset protection, tax planning, and tax controversey Jim Swain - Swain Law Firm is dedicated to assisting Veterans, Elders and their families with Estate Planning, Wills, Trusts, and VA Pension and Benefits for both the Veteran and Surviving Spouse. 5

How you can get the guides Available for download Free single and bulk orders Links for downloading and ordering are at the Managing Someone Else’s Money landing page: www.consumerfinance.gov/managing-someone-elses- money Individuals who cannot access the internet: call Consumer Response at 855-411-CFPB (2372)   IL webinar 6

Dissemination ideas Who are the audiences? Financial caregivers – the four types of fiduciaries Adults who have planned ahead and named fiduciaries Who may want to distribute the guides? Aging services providers Professionals who serve older adults and their fiduciaries (e.g. elder law and T&E attorneys, financial advisers, accountants) Financial services providers (e.g. banks, credit unions, broker-dealers) APS and other government agencies Congregate care facilities And…. IL webinar 7

Tami Sieckman, tamara.sieckman@cfpb.gov How to contact us Tami Sieckman, tamara.sieckman@cfpb.gov Naomi Karp, naomi.karp@cfpb.gov Office for Older Americans, olderamericans@cfpb.gov IL webinar Questions? 8