Those who manage other people’s money understand that they have a duty to manage that money with care. If something were to happen to the money while you were watching it, not only would it affect your psyche, it would greatly affect the person who it belongs to.
It’s a misconception that specific demographics are subject to identity theft more than others. In fact, anyone can become a victim of identity theft, including your children and deceased relatives. Identity thieves see benefits of using certain types of identities in different scams. No one is safeguarded against this life altering crime.
With that said, identity theft and cybercrime are on the rise, and therefore new laws have come into place that help protect people from this crime. As of late September 2018, all credit freezes on your credit reports have become free to you. The law has extended the free credit freezes to those who manage another person’s assets. This new law will prove itself to be a great benefit to help protect the money and identity of those who have them managed by another person.
For financial caretakers who want to take precautionary steps to protect those whose finances they are managing, freezing the credit of the person that they are assisting will help tremendously. If you’re acting on behalf of a someone else, you must prove your authority in order to freeze their credit.
Here are two things that you need to start this process:
- Court order that names you as a guardian or conservator OR valid power of attorney
- Proof of your identity, like a Social Security card or driver’s license
Remember, if you are acting as a financial caretaker for someone, you have a duty to protect their money and identity, and although there is no surefire way to prevent identity theft, you can now freeze their credit which will greatly deter future identity theft.
The bottom line is that there’s really no better time than the present to become a LibertyID member for identity theft restoration protection. Our extended family plan covers the member, their spouse/partner, the member and spouse’s/partner’s parents and their children. We’re the AAA of identity theft restoration, offering a 100% guaranteed identity theft restoration service. But just like with AAA, you have to get covered before there’s an incident. When you sign up for LibertyID, you’re covering yourself and your family from the fallout of identity theft and the potentially hundreds of hours and thousands of dollars lost due to identity theft.