Which alternative to guardianship involves managing someone’s finances?

The alternative to guardianship that involves managing someone's finances is the representative or protective payee. This arrangement allows an individual or an organization to handle the financial resources of someone who may be unable to manage their own funds due to various reasons, such as mental incapacity or cognitive impairments.

A representative payee is designated by the Social Security Administration or a similar agency to receive benefits on behalf of an individual and ensure that their financial needs are met appropriately. This can include managing funds for day-to-day living expenses, ensuring that bills are paid, and making decisions about how the money is spent.

This option is especially beneficial as it allows individuals to maintain more autonomy and independence compared to guardianship, which often removes more personal rights and control over one's own decisions. In contrast to other options like power of attorney, which can be broader in scope, a representative payee specifically focuses on financial management, making it the most fitting choice in this context.