Cecilia Sarachili, 52, of the 600 block of Spring Street in Bristol, is charged with forgery and theft.
The Bensalem Police Department said Sarachili was placed in charge of the friend's estate when that friend was placed in assisted living in December, 2008.
After her friend was in the home, police say Sarachili stole $180,000 in cash and took out a $100,000 line of credit on a home the friend owned.
Police say the money was supposed to be donated to the Children's Hospital of Philadelphia and Hope for Animals foundation in Morrisville after the friend's death in 2011.
Sarachilli was arraigned and bail was set at $100,000.