Becoming a Financial Caregiver

Sep 21, 2022Financial Literacy

Important things to know about Becoming a Financial Caregiver

Becoming a financial caregiver, whether through a long-planned process or overnight can be an overwhelming undertaking.  It is helpful to understand the necessary steps to take which quite possibly will include communication with an entire support system, the organization and collection of important legal and financial documents and making sure to establish clear expectations for the caregiving relationship.

Using the free *Native American Financial Services Association (NAFSA) Financial Literacy Program, you can explore online playlists with many modules that relate to overall financial competency, whether this is planning for a financial caregiver or managing finances through the loss of a loved one, our curated playlists will provide you with important information.

Becoming a Financial Caregiver:

A strategy and plan are necessary for becoming a financial caregiver.  Depending on the situation, the caregiver may want to consult with attorneys, financial advisors, and other professionals.  

Our Becoming a Financial Caregiver module, located in the Financial Caregiving playlist, can help you understand things like what a fiduciary is, and whether or not this role is needed, the different types of fiduciaries, and key points about managing sources of income and medical expenses.  As mentioned, this process can be very overwhelming, and the module provides information on how the caregiver can also support their own needs.  This module also points potential caregivers to specific outside resources that may be useful.  

The NAFSA Financial Literacy Program provides a variety of modules and tools with easy-to-understand information to help people better comprehend their finances and make more informed decisions.

Explore the program today: 

*The NAFSA Financial Literacy Program content contained on the NAFSA web page(s) referenced above, and on any subsequent pages created by our service providers/partners, provides general consumer information. It is not legal advice or regulatory guidance. There may be other resources that also serve your needs and you are always encouraged to, and should, consult with your own professional advisors prior to making any financial decisions.

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