Is there a financial planner (book) one could purchase for...

1 answer | Last updated: Sep 14, 2017
Smarsh asked...

Is there a financial planner (book) one could purchase for record keeping, i.e.: a record of monthly finances, bank account locations and account numbers, so anyone would be able to take over banking for someone. Thanks.

Expert Answers

Steve Weisman hosts the nationally syndicated radio show A Touch of Grey, heard on more than 50 stations, including WABC in New York City and KRLA in Los Angeles. He is a practicing lawyer specializing in estate planning and is admitted to practice before the United States Supreme Court. He's a public speaker and commentator who has appeared on many radio and television shows throughout the country, and he's the legal editor of Talkers magazine, the preeminent trade publication of talk radio. His latest book is The Truth About Avoiding Scams.

Precise record keeping is an essential element of acting as a fiduciary or agent for someone and managing their finances.

There are many good computer programs that can assist you in setting up a simple program for managing the funds. Big E-Z has a number of good computer software programs that can meet your needs.

However, before you begin to manage someone's banking for them, I strongly urge you to contact a lawyer in order to make sure that you are properly authorized to act on behalf of the person for whom you will be doing the banking and to establish the limits of your authority. You also will want to discuss with the lawyer the matter of your own personal liability and establish a protocol for you to follow to insure that you will incur no personal liability in the management of the funds.