Online Buzz: Is Your Senior Loved One's Money Safe?
At first, the signs of misuse of a senior’s finances may seem quite innocuous—an unpaid bill or purchase of an item the older person doesn’t need. However, these may be initial warning signs that can lead to large or unexplained bank account withdrawals or transfers, unfamiliar signatures on checks and documents, and changes in banks, attorneys or wills.
Financial exploitation of the elderly is the illegal or improper use of the funds, assets or property of anyone 60 years and older. An estimated 90 percent of monetary abusers of seniors are the friends, neighbors, employees and relatives entrusted to care for and protect the elderly.
Seniors who are targeted most are those who are isolated or lonely, have recently suffered loss, or exhibit decreased mental and physical abilities. Elders who know little about their assets or who have a family member with financial or substance abuse problems also are more financially vulnerable.
|How can seniors protect themselves from monetary deception and pilfered finances? Visit the Right at Home blog to learn more.||
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