Informal trusteeships are a way of putting someone in charge of your finances if you have reduced mental capacity. The person helping you is an informal trustee and can be a spouse or adult child.
They can do things such as:
- deposit your government cheques, such as Canadian Pension Plan or Old Age Security, and
- pay your bills.
An informal trustee has limited authority. They cannot manage your investments or sell your property. To name an informal trustee, you need to fill out separate paperwork for each agency that allows for an informal trusteeship.
For more information about informal trusteeships and which government agencies allow them, see the Government of Alberta’s website.