Consumer Financial

Protection Bureau

MANAGING SOMEONE ELSE’S MONEY 

Help for court-appointed 

conservators

in Virginia

HELP FOR COURT-APPOINTED CONSERVATORS 1 

About the Consumer Financial 

Protection Bureau

The Consumer Financial Protection Bureau, or the CFPB, is 

focused on making markets for consumer financial products 

and services work for families — whether they are applying for a 

mortgage, choosing among credit cards, or using any number of 

other consumer financial products. We empower consumers to 

take more control over their financial lives. 

The CFPB Office for Older Americans is the only federal office 

dedicated to the financial health of Americans age 62 and over. 

Along with other agencies, the Office works to support sound 

financial decision-making and to prevent financial exploitation 

of older adults. To help people (including family members) with 

legal authority to handle an older person’s money, the Office 

contracted and worked closely with the American Bar Association 

Commission on Law and Aging to prepare this guide. 

Though the guide was developed by the ABA Commission, it is 

not intended to provide legal advice or serve as a substitute for 

your own legal counsel. If you have questions or concerns, we 

recommend that you seek the guidance of the appropriate legal 

professional.

Virginia professionals who worked on this guide are Elizabeth 

Bircher, Ross C. Hart, David Hominik, Rhona Levine, Margaret 

O’Reilly, and Kathy Pryor.
2 MANAGING SOMEONE ELSE’S MONEY 
HELP FOR COURT-APPOINTED CONSERVATORS 3 

What’s inside

About the Consumer Financial Protection Bureau�������������������������������������������������������1

Why read this guide? ��������������������������������������������������������������������������������������������������������5

What is a fiduciary? 6

Conservator questions and answers 6

Four basic duties of a fiduciary ���������������������������������������������������������������������������������������8

Duty 1 | Act only in Martin’s best interest 8

Duty 2 | Manage Martin’s money and property carefully 10

Duty 3 | Keep Martin’s money and property separate 14

Duty 4 | Keep good records and report to the court 14

More things you should know����������������������������������������������������������������������������������������17

What if there are other fiduciaries? 17

Government benefits require special fiduciaries 17

How can you avoid problems with family or friends? 18

What should you know about working with professionals? 18

Watch out for financial exploitation �����������������������������������������������������������������������������19

Look for these common signs of financial exploitation 19

What can you do if Martin has been exploited? 19

Be on guard for consumer scams ���������������������������������������������������������������������������������21

How can you protect Martin from scams? 21

What can you do if Martin has been scammed? 22

Where to go for help �������������������������������������������������������������������������������������������������������24

Local and state agencies 24

Federal agencies 25

For legal help 26

For accounting help 26
4 MANAGING SOMEONE ELSE’S MONEY 
HELP FOR COURT-APPOINTED CONSERVATORS 5 

Why read this guide? 

Like many people, you may never have been a conservator of someone else’s 

property before. That’s why we created Managing someone else’s money: Help 

for court-appointed conservators in Virginia. This guide will help you understand 

what you can and cannot do in your role as a conservator. 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 a conservator, not for professionals 

or organizations. The guide does not give you legal advice. Talk to a lawyer 

if you have questions about your duties. Also, you can refer to Instructions to 

Conservators of Incapacitated Persons by the Supreme Court of Virginia, 

http://www.courts.state.va.us/courtadmin/aoc/cip/programs/gal/adult/conserv_

instructions_incap_adults.pdf.

If you want to learn about how to become a conservator, this guide is not designed 

for you. Talk to a lawyer or read Guardianship and Conservatorship Proceedings 

Regarding Incapacitated Adults on the website of the Supreme Court of 

Virginia, http://www.courts.state.va.us/courtadmin/aoc/cip/programs/gal/adult/

guardian_conserv_proceedings.pdf.

Let’s start with a scenario about how you might have 

become a conservator

Your family member or friend may not be able to make decisions on his 

own about his money and property. For this guide, let’s call him Martin. 

After a hearing, the court has named you conservator for Martin. You 

now have the duty and power to make decisions on Martin’s behalf about 

some or all of his money and property. 

The court has given you a lot of responsibility as Martin’s conservator. 

You are now a fiduciary with fiduciary duties.
6 MANAGING SOMEONE ELSE’S MONEY 

What is a fiduciary? 

Since you have been named to manage money or property 

for someone else, you are a fiduciary. The law requires you to 

manage Martin’s money and property for HIS benefit, not yours. 

It does not matter if you are managing a lot of money or a little. It 

does not matter if you are a family member or not. 

The role of a fiduciary carries with it legal responsibilities. When 

you act as a fiduciary for Martin, you have four basic duties that 

you must keep in mind:

1. Act only in Martin’s best interest.

2. Manage Martin’s money and property carefully.

3. Keep Martin’s money and property separate from yours.

4. Keep good records.

As a fiduciary, you must be trustworthy, honest, and act in good 

faith. If you do not meet these standards, you could be removed 

as a fiduciary, sued, or have to repay money. It is even possible 

that the police or sheriff could investigate you and you could go 

to jail. That’s why it’s always important to remember: It’s not 

your money!

Conservator questions and answers 

What is a conservator?

A conservator is someone the court names to manage money 

and property for someone else whom the court has found cannot 

manage it alone. 

Sometimes a conservator is also appointed as guardian. A 

guardian makes Martin’s health care and other personal decisions. 

Sometimes a different person is appointed to be the guardian, or 

Martin himself may still be able to make these personal decisions. 

This guide only covers duties of the conservator.

Different types of 

fiduciaries exist

In your role as guardian 

of property, you may act 

as or deal with other 

types of fiduciaries. These 

may include: 

Trustees under a revocable 

living trust—someone 

names them to manage 

money and property.

Representative payees 

or, for veterans, VA 

fiduciaries—a government 

agency names them to 

manage government money 

that is paid to someone. 

(In this guide, VA refers to 

the U.S. Department of 

Veterans Affairs and not to 

Virginia.)

Agents under a power of 

attorney—someone names 

an agent to manage their 

money and property in case 

they are not able to do it.

Other guides explaining 

the duties of these 

fiduciaries are at: www.

consumerfinance.gov/

managing-someone-elsesmoney-virginia.
HELP FOR COURT-APPOINTED CONSERVATORS 7 

Don’t expect others to 

know what a conservator 

is or does. 

They may not understand 

that you have been 

appointed by the court. 

They may think you have 

more authority or less 

authority than you really 

have. You may need to 

educate them. You could 

show them this guide and 

a copy of the court order 

appointing you. 

What are your responsibilities as a conservator?

As conservator, you have a double duty—both to Martin, the 

person you are serving, and to the court. 

DUTY TO MARTIN

You must always keep Martin’s best interests in mind. In 

managing his money, you must act for his good and not for your 

own good. Involve Martin in decisions as much as possible.

DUTY TO THE COURT

You are an agent of the court. The court has trusted you. You 

must report regularly and be ready to answer any questions. 

In Virginia, the judge appoints an attorney as Commissioner of 

Accounts to supervise fiduciaries. You have a duty to report to 

the Commissioner of Accounts. The court will tell you who the 

Commissioner of Accounts is in your area. 

When do your responsibilities end?

Your responsibilities as Martin’s conservator last until the court 

relieves you of your duties. The court may do this because 

someone else has been appointed, Martin has died, or Martin no 

longer needs a conservator.
8 MANAGING SOMEONE ELSE’S MONEY 

Four basic duties of a fiduciary 

Duty 1 | Act only in Martin’s best interest

Because you are dealing with Martin’s money and property, your duty is to make 

decisions that are best for him. This means you must ignore your own interests and 

needs, or the interests and needs of other people. 

To help act in Martin’s best interest, follow these guidelines: 

§ Read the court order. Your powers and duties as Martin’s conservator are 

written in Virginia law. They also may be written in the court order that 

appointed you. Some court orders may be detailed, while others may be 

very general. Read the court order closely, and talk to a lawyer if you don’t 

understand it. Ask questions and learn all you can about what you should do—

and what you should not do.

§ Do what the court order says—and don’t do what it says you should not do.

It is important that you not act beyond what the law and the court order allow, 

and that you carry out the basic tasks necessary. Your powers may be limited to 

certain actions or certain amounts of money. You may need to get the court to 

approve other actions. Even if you have the best intentions, follow the court order. 

§ As much as possible, involve Martin in decisions. Many things can affect your 

decisions. For example, you might feel pressure from others. Martin’s abilities 

to make decisions might change from time to time, or maybe Martin was never 

able to make decisions about his money and property. Consider these three steps:

ú First, ask Martin what he wants. He may be able to decide some things. 

If so, take this into account, especially if it is similar to his thinking in the 

past and the risk of harm to him is not unreasonable. For example, if 

Martin wants to handle money, see if he can manage a small bank account 

or a monthly cash allowance. Doing this will let him be in charge of a set 

amount, and you will limit the risk to that amount. 
HELP FOR COURT-APPOINTED CONSERVATORS 9 

ú Second, try to find out what Martin would have wanted.

Look at any past decisions, actions, and statements. Find 

as much information as you can. Ask people who care 

about Martin what they think he would have wanted. 

Make the decision you think that Martin would have 

made, unless doing so would harm him. 

ú Third, do what you think is best for him. If you have looked 

hard and still don’t know what Martin would have wanted—

or if Martin could never make decisions about money 

and property—use your judgment about what is best. Put 

Martin’s well-being above saving money for others who 

may inherit his money and property. Make sure that he is 

safe and comfortable, and his needs are met. 

§ Avoid conflicts of interest. A conflict of interest happens 

if you make a decision about Martin’s property that may 

benefit someone else at Martin’s expense. Because you 

were appointed by the court, you have a strict duty to avoid 

conflicts of interest—or even the appearance of a conflict of 

interest. Try to keep an “arm’s length distance” between your 

interests and any use of Martin’s money.

§ Don’t borrow, loan, or give Martin’s money to yourself or 

others. Even if the court order clearly allows gifts to you or 

others, be very careful to avoid conflicts of interest. Generally, 

the court must approve gifts over $100 to one person or $500 

total in a year. Make sure that any gifts do not increase or 

complicate Martin’s taxes or change his plans for his property 

when he dies. Seek a lawyer’s advice or check with the 

Commissioner of Accounts before making any loans. Any gifts 

or loans should be in line with what Martin would have wanted. 

For example, if Martin gave money every year to a charity, the 

court may allow you to continue doing that.

§ Avoid changing Martin’s plans for giving away his money or 

property when he dies. There may be rare situations when 

changing Martin’s plans is in his best interest. But you should get 

legal advice and approval from the court before you do anything.

§ Don’t pay yourself for the time you spend acting as Martin’s 

conservator, unless the court allows you to do so. Virginia 

law generally allows a conservator to receive a “reasonable” 

amount. If you are allowed to pay yourself, get legal advice, 

Avoid possible 

conflicts of interest

Sometimes people have 

good intentions, but do 

things they shouldn’t. 

Because you are now a 

fiduciary, you should 

avoid any conflicts of 

interest. Here are a few 

examples of possible 

conflicts of interest:

Whose car is it? 

You used Martin’s money 

to buy a car. You use it to 

drive him to appointments, 

but most of the time you 

drive the car just for your 

own needs. This may be a 

conflict of interest. 

Should you do business 

with family? 

Martin needs repair 

work in his apartment. You 

hire your son and pay 

him from Martin’s money. 

This may be a conflict 

of interest, even though 

the work was needed. It 

appears that you have put 

your personal interest to 

benefit your son in conflict 

with Martin’s interests.
10 MANAGING SOMEONE ELSE’S MONEY 

check with the Commissioner of Accounts, and carefully 

document how much time you spend and what you do.

To avoid any surprises or misunderstandings, tell family about 

your fees when you begin your duties as a conservator. If you 

charge fees, charge fees that are reasonable. Don’t charge 

for things you do that are not specifically as conservator. For 

instance, don’t charge fees if you shop for Martin or personally 

make home repairs. If necessary, you can pay someone else at 

a lower rate for these tasks and document the expenses.

Duty 2 | Manage Martin’s money and 

property carefully

As Martin’s conservator, you might pay bills, oversee bank 

accounts, or pay for things he needs. You might also make 

investments, pay taxes, collect rent or unpaid debts, get 

insurance if needed, cancel any unneeded insurance, and 

do other things in the court order. Your authority is limited to 

financial decisions, so work with Martin or any other decisionmakers on choices important to Martin. 

You have a duty to manage Martin’s money and property very 

carefully. Use good judgment and common sense. As a fiduciary, 

you must be even more careful with Martin’s money than you 

might be with your own! 

Follow these guidelines and strictly follow the court’s procedures:

§ Make an inventory. To make careful decisions, you need 

to know what Martin owns and owes. To make a proper 

inventory, you must find and list for the court all of Martin’s 

income and property, as well as any debts or legal claims 

against his properties (called liens). The clerk of the court 

or the Commissioner of Accounts will give you a form and a 

deadline for making the inventory—usually 4 months after your 

appointment. To avoid any risk to Martin’s money and property, 

you must make the inventory as quickly as possible. 

Tips for making 

an inventory

Don’t leave anything out.

Even if you know Martin 

wants you to have certain 

things and says so in his will, 

list them in the inventory. 

A proper inventory lists 

everything according to the 

court’s rules. Do not decide 

that some things should not 

be listed. 

Search carefully. Look 

carefully to find everything 

Martin owns. Search his 

mail and home. Look for 

real estate by talking to 

family or advisors and 

looking through land 

records. Track down letters 

from creditors to find 

unpaid debts. Take valuable 

items to an appraiser. 

Verify if necessary. It 

is a good idea to have 

someone else check the list, 

especially if family might 

argue over Martin’s money 

and property.
HELP FOR COURT-APPOINTED CONSERVATORS 11 

An inventory may include all kinds of property. Your list 

might include:

ú Checking and savings accounts;

ú Cash;

ú Pension, retirement, annuity, rental, public benefit, or other income;

ú Real estate;

ú Cars and other vehicles;

ú Insurance policies;

ú Trusts for which Martin is a beneficiary;

ú Stocks and bonds; 

ú Jewelry, furniture, and any other items of value; and

ú Unpaid credit card bills and other outstanding loans.

§ File the inventory with the Commissioner of Accounts. Keep a copy of the 

inventory for your records and file it with the court by the due date. Be ready 

to share it with family listed with the court as interested parties. It is a good 

practice to review the inventory with a lawyer before you file it. 

§ The court will probably require you to buy a bond. A bond is a special type of 

insurance policy so the court can make sure you carry out your duties. If you fail in 

your duties and, as a result, Martin’s money is lost or stolen, the bonding company 

will pay the money back to Martin. Then the company will try to collect the money 

from you, along with their costs and legal fees. Ask the Commissioner of Accounts 

whether you may use Martin’s money to cover this expense.

If you have had a bankruptcy, are unemployed, or have little money and 

property of your own, you will not likely be able to get a bond. Try to check this 

before you are appointed as conservator or as soon as possible. Take all steps 

the court advises about getting a bond.

Sometimes, instead of requiring a bond, the court will limit the amount of funds 

you can take out of Martin’s account. This is called a restricted account. The court 

will tell the bank to block the account above a certain amount. If you want to 

spend more than that amount, you must get the court to approve the expense.
12 MANAGING SOMEONE ELSE’S MONEY 

§ Protect Martin’s property. Keep his money and property safe. Have Martin’s 

income and bills sent to you. Put his valuable items in safe deposit boxes and 

lock other items he is not using in storage. Keep Martin’s cash in bank accounts 

that earn interest if possible and that have low or no fees. Review bank and other 

financial statements promptly. If Martin will not be living in his home, consider 

changing the locks. Figure out if the house should be rented, or how to keep 

it safe if it is vacant. If Martin rented an apartment and will be moving, tell the 

landlord, remove his things, and have the apartment cleaned.

§ Make a financial plan. Make a budget as if you were making one for your own 

household. List how much you expect to pay for nursing home, assisted living 

or home care, rent, food, medical care, and home maintenance or repair. Be 

sure to include a monthly amount for Martin to use as he pleases. Think about 

any special expenses that may arise, such as dental work or any medical care or 

equipment that Medicare, Medicaid, or other health insurance will not cover. Try 

to stick to your budget. If something very costly occurs, you may need the court 

to approve the expense.

§ Invest carefully. If you are making investments for Martin, talk to a financial 

professional. The Securities and Exchange Commission (SEC) provides tips on 

choosing a financial professional at www.sec.gov/investor/alerts/ib_top_tips.pdf. 

Discuss your choices and goals for investing based on Martin’s needs and 

values. For more information on investing, see Instructions to Conservators 

of Incapacitated Persons, http://www.courts.state.va.us/courtadmin/aoc/cip/

programs/gal/adult/conserv_instructions_incap_adults.pdf .

§ Pay bills and taxes on time.

§ Cancel any insurance policies that Martin does not need. 

§ Collect debts. Find out if anyone owes Martin money, and try to collect it.

§ There’s no place like home. Martin may want to continue to live in the home he 

owns or rents. In that case, take these steps:

ú Determine if living in his home is safe, and if Martin can manage in 

the house. If needed, put in guard rails, grab bars, smoke detectors, 

extra lighting, and other things to help him stay at home. Tax credits or 

deductions may be available if you modify the home. 

ú Work with others, including any decision-makers (such as an agent under a 

health care advance directive or a guardian if you have not been appointed 

to fill this role). A geriatric care manager may be able to help you find 

resources for modifying Martin’s home or getting services in his home. You 

can pay a geriatric care manager to do this with Martin’s money.
HELP FOR COURT-APPOINTED CONSERVATORS 13 

ú If it is not safe to live at home even with changes—or if Martin wants to 

move—consider other places that meet Martin’s needs. Try to keep him 

connected to people and things important to him. Choices might be 

living with someone else, or living in a retirement community, a senior 

apartment, group home, assisted living, or nursing home. You may need 

court approval for a move.

ú Consider whether you need to sell Martin’s home. In Virginia, you may not 

be allowed to sell Martin’s real estate without specific court permission. 

In any case, it is good practice to get court approval to sell, mortgage, or 

lease any property. Check the order that appointed you as conservator.

Can Martin get any benefits? 

Find out if Martin is eligible for any financial or health care benefits from 

an employer or a government. These benefits might include pensions, 

disability, Social Security, Medicare, Medicaid, Veterans benefits, housing 

assistance, or food stamps (now known as Supplemental Nutrition 

Assistance Program or SNAP). Use the National Council on Aging benefits 

check-up at www.BenefitsCheckUp.org.

Help him apply for those benefits. The Area Agency on Aging where 

Martin lives can help you find information. Find the local Area Agency on 

Aging through the Virginia Association of Area Agencies on Aging at 

www.vaaaa.org.

Medicaid is complicated

Get legal advice and be very careful about decisions that may affect 

Martin’s eligibility for Medicaid. The Medicaid program provides medical 

assistance and long-term care to low-income people. For information 

about eligibility and applications, visit the Cover Virginia website at 

www.coverva.org/programs_medicaid.cfm. For additional information 

about Medicaid eligibility, visit the Department of Social Services website 

at www.dss.virginia.gov/benefit/medical_assistance.
14 MANAGING SOMEONE ELSE’S MONEY 

Duty 3 | Keep Martin’s money and property separate

Never mix Martin’s money or property with your own or someone else’s. Mixing 

money or property makes it unclear who owns what. Confused records can get you 

in trouble with the court.

Follow these guidelines: 

§ Separate means separate. Never deposit Martin’s money into your own or 

someone else’s bank account or investment account. 

§ Avoid joint accounts. If Martin already has money in a joint account with you or 

someone else, get legal advice before making any change. 

§ Keep title to Martin’s money and property in his own name. This is so other 

people can see right away that the money and property is Martin’s and not 

yours. Ask the bank for a conservator or fiduciary account that shows you are 

managing the account for Martin. 

§ Know how to sign as conservator. Sign all checks and other documents relating 

to Martin’s money or property to show that you are Martin’s conservator. For 

example, you might sign: “Juan Doe, as conservator for Martin Roe.” Never just 

sign “Martin Roe.”

§ Pay Martin’s expenses from his funds, not yours. Spending your money and 

then paying yourself back makes it hard to keep good records. If you really need 

to use your money, save receipts for the expense and keep a good record of 

why, what, and when you paid yourself.

§ For more information about checking accounts, see the Virginia Supreme 

Court’s instructions to conservators at http://www.courts.state.va.us/courtadmin/

aoc/cip/programs/gal/adult/conserv_instructions_incap_adults.pdf.

Duty 4 | Keep good records and report to the court

You must keep true and complete records of Martin’s money and property. 

As conservator, the court, the Commissioner of Accounts or a lawsuit can challenge 

you to show everything you’ve done with Martin’s money and property. Always be 

ready to share your records with the court and the Commissioner of Accounts.
HELP FOR COURT-APPOINTED CONSERVATORS 15 

Practice good recordkeeping habits:

§ Keep a detailed list of everything that you receive or spend for Martin. Records 

should include the amount of checks written or deposited, dates, reasons, 

names of people or companies involved, and other important information. 

§ Keep receipts and notes, even for small expenses. For example, write “$50, 

groceries, ABC Grocery Store, May 2” in your records soon after you spend 

the money.

§ Avoid paying in cash. Try not to pay Martin’s expenses with cash. Also, try not to 

use an ATM card to withdraw cash or write checks to “Cash.” If you need to use 

cash, be sure to keep receipts or notes.

§ Getting paid? If you are permitted by the court to charge a fee to serve as 

conservator, be sure you charge a reasonable fee. Talk with the court, the 

Commissioner of Accounts, or a lawyer about what is considered a “reasonable” 

fee. Keep detailed records as you go along of what work you did, how much 

time it took, when you did it, and why you did it.

§ File your accountings with your local Commissioner of Accounts. Each year—or 

whenever the court requires—you must report to the Commissioner of Accounts, 

including giving an accounting of all the money you received and spent.

ú The court or the Commissioner of Accounts will give you a specific form 

for the accounting. Use the records you have kept during the year to fill in 

the form. If you have questions, ask the Commissioner of Accounts, or a 

lawyer for help.

ú The court will tell you when the accounting is due – usually 6 months after 

your appointment, and then once every year. Be sure to turn it in on time. 

If your accounting is late, the Commissioner of Accounts or the court may 

call you in to explain why. 

ú Your accounting must be clear and must “add up.” The accounting should 

show a beginning balance, income during the year, expenses during the 

year, and an ending balance. The ending balance for one year should be 

the same as the beginning balance for the next year.

ú Your Commissioner of Accounts may have a specific way to write up 

the accounting, and these requirements may change over time. Try to 

understand in advance what is needed, so that your accounting is not 

rejected for a minor problem. Ask for an example of a correct accounting. 

You may need an accountant to help. 
16 MANAGING SOMEONE ELSE’S MONEY 

§ File a final accounting after Martin dies. Notify the court when Martin dies. 

According to court procedures, make a final accounting of Martin’s money and 

property, and ask for an order releasing you from your duties.

ú Sometimes, you may need to pay final bills or make final arrangements, 

especially if no one else can do it. For example, you may need to pay 

funeral expenses and final medical bills. 

ú If Martin did not already make funeral or burial arrangements, look for any 

directions he may have left—perhaps in advance directives or remarks to 

family or friends.

ú An executor named in a will, an administrator named by the court, or a 

trustee named in a trust will handle Martin’s money and property after 

you turn them over. Hold Martin’s personal things safely until they are 

transferred to whoever is to receive them. 

ú If you are the one named to handle Martin’s money and property after his 

death, make sure you understand when your duties as conservator end 

and your new duties begin.
HELP FOR COURT-APPOINTED CONSERVATORS 17 

More things you should know

What if there are other fiduciaries?

Co-conservators

The court may have named someone else to act with you as Martin’s conservator, 

or it may have named someone else to act as Martin’s guardian of person to make 

health care and other personal decisions. 

Any other conservators or guardians will be your partners in making decisions on 

Martin’s behalf and in helping him make decisions if he is able. You must work closely 

together. For example, if Martin will move to a new location or get special care, his 

conservators and guardians must make important personal and financial decisions. 

You must consult with one another. 

Other types of fiduciaries

Other fiduciaries may have authority to make decisions for Martin. For example, he 

may have an agent under a power of attorney, a representative payee who handles 

Social Security benefits, or a VA fiduciary who handles veterans benefits. It is 

important to work with these other fiduciaries, and keep them informed.

Government benefits require special fiduciaries

As conservator, you cannot manage Martin’s government benefits such as 

Social Security or VA benefits unless you get a separate appointment from the 

government agency as, for example, a representative payee or VA fiduciary. For 

more information, contact the government agency.
18 MANAGING SOMEONE ELSE’S MONEY 

How can you avoid problems with family or friends?

Family or friends may not agree with your decisions about Martin’s money and 

property. To help reduce any friction, follow the four duties described above and 

the guidelines we’ve given you.

§ Consider whether sharing information might help and is allowed (unless Martin has 

said that you should not). It is good practice to send copies of the accountings you 

file with the Commissioner of Accounts to those listed with the court as interested 

parties, and send an update every few months. If there is no direction from the 

court, get court approval before sharing information. 

§ If family or friends question or don’t agree with your decisions, get advice 

from a lawyer about sharing information and finding other ways of sorting out 

problems, such as talking with a family counselor or mediator. See Where to go 

for help on page 24 of this guide.

What should you know about working with professionals?

In managing Martin’s affairs, you may need help from professionals such as 

lawyers, brokers, financial advisors, accountants, real estate agents, appraisers, 

psychologists, social workers, doctors, nurses, or care managers. You can pay 

them with Martin’s money. 

If you need help from any professionals, remember these tips: 

§ Check on the professional’s qualifications. Many professionals must be licensed 

or registered by a government agency. Check credentials with the government 

agency. Make sure the license or registration is current and the professional is in 

good standing. Check the person’s complaint history. 

§ Interview the professional thoroughly and ask questions.

§ Review contracts carefully before signing. Before hiring any professionals, get 

their proposed plan of work and expected fee.

§ Make your own decisions based on facts and advice. Listen to their advice but 

remember you are the decision-maker. 
HELP FOR COURT-APPOINTED CONSERVATORS 19 

Watch out for financial exploitation 

Family, friends, neighbors, caregivers, fiduciaries, business people, and others 

may try to take advantage of Martin. They may take his money without permission, 

neglect to repay money they owe, charge him too much for services, or just not do 

things he has paid them to do. These may be examples of financial exploitation or 

financial abuse. As Martin’s conservator, you should help protect him. You should 

know the signs of financial exploitation for five important reasons: 

1. Martin may still control some of his funds and could be exploited;

2. Even if Martin does not control any of his funds, he still may be exploited;

3. Martin may have been exploited already, and you may still be able to do 

something about that;

4. People may try to take advantage of you as Martin’s guardian; and

5. Knowing what to look for will help you avoid doing things you should not do, 

protecting you from claims that you have exploited Martin.

Look for these common signs of financial exploitation

§ Some money or property is missing.

§ Martin says that some money or property is missing.

§ You notice sudden changes in Martin’s spending or savings. For example, he: 

ú Takes out lots of money from the bank without explanation;

ú Tries to wire large amounts of money;

ú Uses the ATM a lot;

ú Is not able to pay bills that are usually paid; 

ú Buys things or services that don’t seem necessary; 

ú Puts names on bank or other accounts that you do not recognize or that 

he is unwilling or unable to explain;
20 MANAGING SOMEONE ELSE’S MONEY 

ú Does not get bank statements or bills; 

ú Makes new or unusual gifts to family or others, such as a “new best friend”; 

ú Changes beneficiaries of a will, life insurance, or retirement funds; or

ú Has a caregiver, friend, or relative who suddenly begins handling his money.

§ Martin says he is afraid or seems afraid of a relative, caregiver, or friend.

§ A relative, caregiver, friend, or someone else keeps Martin from having visitors 

or phone calls, or does not let him speak for himself, or seems to be controlling 

his decisions.

What can you do if Martin has been exploited?

§ Call the emergency 911 number if Martin is in immediate danger. 

§ Call Adult Protective Services (APS). You are required by Virginia law 

to do this immediately if you suspect that Martin has been exploited. 

The role of APS is to investigate reports and to provide or arrange for 

services to victims. 

§ If you think that Martin has been or will be the victim of a crime, call 

the local police or sheriff.

§ Alert Martin’s bank or credit card company.

§ Call the local Commonwealth’s Attorney or the Office of the 

Attorney General.

§ Call the Office of the State Long-Term Care Ombudsman or the 

Medicaid Fraud Control Unit if Martin is in a nursing home or 

assisted living. 

§ Consider talking to a lawyer about protecting Martin from more 

exploitation or getting back money or property taken from him. 

Each agency or professional has a different role, so you may need to call 

more than one. For more information, see Where to go for help on page 

24 of this guide.
HELP FOR COURT-APPOINTED CONSERVATORS 21 

Be on guard for consumer scams 

As Martin’s conservator, you should be alert to protect his money from consumer 

scams as well as financial exploitation. Criminals and con artists have many scams, 

and change them all the time. They often seek unsuspecting people who have 

access to money. Learn to spot consumer scams against Martin—and against you as 

his conservator. 

How can you protect Martin from scams?

Consumer scams happen on the phone; through the mail, e-mail, or the Internet; 

and they occur in person, at home, or at a business. 

Here are some tips: 

§ Put Martin’s number on the National Do Not Call Registry. Go to 

www.donotcall.gov or call 1-888-382-1222. 

§ Don’t share numbers or passwords for Martin’s accounts, credit cards, or 

Social Security, unless you know whom you’re dealing with and why they need 

the information. 

§ After hearing a sales pitch, take time to compare prices. Ask for information in 

writing and read it carefully. 

§ Too good to be true? Ask yourself why someone is trying so hard to give you a 

“great deal.” If it sounds too good to be true, it probably is.

§ Watch out for deals that are only “good today” and that pressure you to act 

quickly. Be suspicious if you are not given enough time to read a contract or get 

legal advice before signing. Also watch out if you are told that you need to pay 

the seller quickly, for example by wiring the money or sending it by courier.

§ Never pay up front for a promised prize. Suspect a scam if you are required to 

pay fees or taxes to receive a prize or other financial windfall. 
22 MANAGING SOMEONE ELSE’S MONEY 

§ Watch for signs Martin already has been scammed. For example, does he 

receive a lot of mail or e-mail for sweepstakes? Has he paid people you don’t 

know, especially in other states or countries? Has he taken a lot of money out of 

the bank while he was with someone he recently met? Does he have a hard time 

explaining how he spent that money? Is he suddenly unable to pay for food, 

medicine, or utilities?

What can you do if Martin has been scammed?

If you suspect a scam, get help. Contact a local, state, or federal agency, 

depending on the type of scam. You may also need to talk to a lawyer. 

Local agencies to call are Adult Protective Services (in the local 

Department of Social Services), the Area Agency on Aging, the police or 

sheriff, the local or regional Long-Term Care Ombudsman Program, or the 

Better Business Bureau. 

A state agency to call is the Office of the Attorney General. 

Call a federal agency if scammers are in other states or countries. Federal 

agencies are the Consumer Financial Protection Bureau, the FBI, the 

Federal Trade Commission, or the U.S. Postal Inspection Service. 

Each of these agencies and professionals has a different role so you may 

need to call more than one. 

For more information, see Where to go for help on page 24 of this guide.
HELP FOR COURT-APPOINTED CONSERVATORS 23 

SCAM TYPES DESCRIPTION

Relative in need Someone who pretends to be a family member or friend calls or 

e-mails you to say they are in trouble and need you to wire money 

right away.

Charity appeals You get a call or letter from someone asking for money for a fake 

charity—either the charity does not exist or the charity did not call or 

write to you.

Lottery or 

sweepstakes

You get a call or e-mail that you have a chance to win a lot of money 

through a foreign country’s sweepstakes or lottery. The caller will offer 

tips about how to win if you pay a fee or buy something. Or the caller 

or e-mail says you already have won and you must give your bank 

account information or pay a fee to collect your winnings.

Home 

improvement

Scammers take money for repairs and then they never return to do the 

work or they do bad work. Sometimes they break something to create 

more work or they say that things need work when they don’t.

Free lunch Scammers invite you to a free lunch and seminar, and then pressure 

you to give them information about your money, and to invest the 

money with them. They offer you “tips” or “guaranteed returns.”

Free trip Scammers say you’ve won a free trip but they ask for a credit card 

number or advance cash to hold the reservation.

Government 

money

You get a call or letter that seems to be from a government agency. 

Scammers say that if you give a credit card number or send a money 

order, you can apply for government help with housing, home repairs, 

utilities, or taxes.

Drug plans

Scammers pretend they are with Medicare prescription drug plans, 

and try to sell Medicare discount drug cards that are not valid. 

Companies with Medicare drug plans are not allowed to send 

unsolicited mail, emails, or phone calls.

Identity theft

Scammers steal personal information—such as a name, date of birth, 

Social Security number, account number, and mother’s maiden name—

and use the information to open credit cards or get a mortgage in 

someone else’s name.

Fake “official” mail Scammers send letters or e-mails that look like they are from a 

legitimate bank, business, or agency to try to get your personal 

information or bank account number.

Common consumer scams
24 MANAGING SOMEONE ELSE’S MONEY 

Local and state agencies

Adult Protective Services

Virginia Adult Protective Services (APS) receives 

and investigates reports of suspected elder or 

adult abuse, neglect, or exploitation. To make a 

report, call the 24-hour, toll-free APS Hotline.

1-888-832-3858

Also, you can contact APS through the local 

Department of Social Services.

www.dss.virginia.gov/localagency

Aging and Disability Resources 

State and local agencies can provide 

information about aging and disability services 

and whether there are any support groups for 

fiduciaries or caregivers. 

Virginia Department for Aging and 

Rehabilitative Services

1-800-552-3402

1-804-662-9333 

www.vadars.org

You also can find services in your area through the 

Virginia Association of Area Agencies on Aging.

1-804-644-2804

www.vaaaa.org/agencies

Attorney General

The Office of the Attorney General has a 

Consumer Protection Section. It operates the 

Virginia Consumer Protection Hotline.

1-800-552-9963

1-804-786-2042 (if calling from the Richmond 

area or outside the state)

www.ag.virginia.gov/index.php/citizenresources/consumer-protection

Better Business Bureau

The Better Business Bureau can help consumers 

with complaints against businesses.

BBB of Greater Hampton Roads 

www.norfolk.bbb.org

info@hamptonroadsbbb.org

1-757-531-1300 

BBB of Western Virginia 

www.bbb.org/western-virginia

info@roanoke.bbb.org

1-540-342-3455 

BBB serving Central Virginia 

www.Richmond.bbb.org

info@richmond.bbb.org

1-804-648-0016 

BBB serving Metro Washington DC & Eastern 

Pennsylvania 

www.dc-easternpa.bbb.org

info@mybbb.org

1-202-393-8000 

Where to go for help
HELP FOR COURT-APPOINTED CONSERVATORS 25 

Long-Term Care Ombudsman Program 

Contact the Office of the State Long-Term 

Care Ombudsman to find state and local longterm care advocates. Ombudsmen identify, 

investigate, and resolve complaints about longterm care. 

1-800-552-3402 

1-804-565-1600 (if calling from the Richmond 

area or outside the state)

www.elderrightsva.org

Mediators 

Find a listing of local mediators in Virginia. 

Mediation can help resolve disputes and may 

sometimes be an alternative to legal action. 

www.courts.state.va.us/courtadmin/aoc/djs/

programs/drs/mediation/home.html (Click on 

“Directories” for lists of Virginia mediators.)

Medicaid/Medical Assistance 

For information about Medicaid eligibility and 

how to apply, contact Cover Virginia. 

1-855-242-8282

www.coverva.org/programs_medicaid.cfm

For additional information about Medicaid 

eligibility, visit: 

www.dss.virginia.gov/benefit/medical_assistance

Medicaid Fraud Control Unit 

The Medicaid Fraud Control Unit, in the Office 

of the Attorney General, investigates and 

prosecutes abuse and fraud by health care 

providers. 

1-800-371-0824 

1-804-371-0779 (if calling from the Richmond 

area or outside the state)

www.ag.virginia.gov/index.php/programsinitiatives/medicaid-fraud 

Police or Sheriff 

Find local police offices through the Virginia 

State Police.

www.vsp.state.va.us/Office_Locations.shtm 

Find the local sheriff’s office through the 

Virginia Sheriff’s Association. 

www.vasheriff.org/sheriffs-resources/vasheriffs-directory

Federal agencies

Numerous federal agencies play a role in 

combatting fraud and abuse and educating 

consumers. Contact them for more information.

Consumer Financial Protection Bureau

1-855-411-CFPB

www.consumerfinance.gov

Do Not Call Registry

1-888-382-1222 

www.donotcall.gov

Federal Bureau of Investigation 

www.fbi.gov/scams-safety

Federal Trade Commission

1-877-FTC-HELP (382-4357) 

www.consumer.ftc.gov

Financial Fraud Enforcement Task Force

www.stopfraud.gov

Postal Inspection Service

1-877-876-2455 

https://postalinspectors.uspis.gov/
26 MANAGING SOMEONE ELSE’S MONEY 

Social Security Administration

1-800-772-1213

www.socialsecurity.gov/payee

Department of Veterans Affairs

1-888-407-0144

www.benefits.va.gov/fiduciary

For legal help

Free legal services for people over age 60

Find local programs that provide free legal 

help to people over age 60 by contacting the 

national Eldercare Locator. 

1-804-644-2804

www.vaaaa.org

Free legal services for low-income people

Find local programs that provide free legal help 

to low-income people by contacting the Legal 

Services Corporation of Virginia. 

1-866-534-5243

www.valegalaid.org/find-legal-help

Free legal services for people with 

disabilities

The Virginia program that provides free legal 

help for people with disabilities is the disAbility 

Law Center of Virginia. 

1-800-552-3962 

1-804-225-2042 (if calling from the Richmond 

area or outside the state)

www.disabilitylawva.org

Fee-for-service lawyers

This is a web page sponsored by the American 

Bar Association. It provides information about 

how to find a lawyer in each state. It also has 

information about legal resources available in 

each state, how to check whether a lawyer is 

licensed, and what to do if you have problems 

with a lawyer.

www.findlegalhelp.org

The Virginia State Bar has similar information 

and offers a lawyer referral service. 

1-800-552-7977

1-804-775-0808 (if calling from the Richmond 

area or outside the state)

www.vsb.org/vlrs

For accounting help

Accountants

Find a local certified public accountant on the 

website of the American Institute of CPAs. 

www.aicpa.org/ForThePublic/FindACPA/

Pages/FindACPA.aspx



August 2015

 consumerfinance.gov

 Consumer Financial Protection Bureau

1700 G Street NW

Washington, DC 20552

 Toll free: (855) 411-CFPB (2372) 

TTY/TDD : (855) 729-CFPB (2372)

 info@consumerfinance.gov