Four Key Duties of a Fiduciary

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This information applies to British Columbia, Canada. Last reviewed for legal accuracy by Kevin Smith in November 2017.

Managing Someone Else's Money
Managing Someone Else's Money This page is from Managing Someone Else's Money See the full contents.
Contents
Introduction You've Been Appointed as an Attorney Power of Attorney Q&As Four Key Duties of a Fiduciary More Things to Know Keeping the Adult Safe Your Attorney Toolkit Where to Get Help Glossary ‎
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v • d • e

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v • d • e Managing Someone Else's Money

Introduction	Copyright & disclaimer · Contributors & acknowledgements · About

Appointed as an Attorney	A scenario · What is a fiduciary? · Before you start

Power of Attorney Q&As	What is a power of attorney? · What is the attorney's authority? · Can the adult still manage her own affairs? · Can a power of attorney be changed or revoked? · What if you're concerned about fraud or abuse? · When do your responsibilities as attorney end? · What if you can no longer serve as attorney?

Four Key Duties of a Fiduciary	Duty 1. Act honestly, in good faith & in the adult's interests · Duty 2. Manage the adult's money & property carefully · Duty 3. Act within the authority you are given and within the law · Duty 4. Keep good records

More Things to Know	If others are involved in making decisions · Avoiding problems with family or friends · Working with professionals

Keeping the Adult Safe	Watch out for financial exploitation · Look for these signs · Be on guard for consumer scams

Your Attorney Toolkit	New attorney checklist · Inventory · Budget · Filing system · Financial management software

Where to Get Help	Local & provincial agencies · For legal help · For accounting and financial help

More	Glossary · About People's Law School

Managing Someone Else's Money © People's Law School is, except for the images, licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Licence.

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