Restrict Credit for an Adult
We have a 31 year old (mentally-challenged) niece who is employed but acknowledges she cannot manage her finances. Are there any steps we can take (with her written approval) to restrict her ability to obtain credit cards or obtain payroll advances? We are in the process of creating a durable power of attorney.
1 Answer from Attorneys
Re: Restrict Credit for an Adult
The only legally effective way to keep banks from pushing unwanted credit onto your niece would be to establish a conservatorship, with herself designated as the "protected person." A durable power of attorney will not suffice. Good luck.