Category: Elder Financial Abuse
“Have you priced nursing homes lately? In Texas, you are looking at an average annual cost of $50,000. We are on the low end; nationally, the average annual cost is closer to $75,000. New Jersey costs a whopping $109,500 annually.” Medicaid provides several programs funded through a state-federal agreement, explains the article “Planning a must: […]
“You’ve probably received one: A recorded call warns of a problem with your Social Security number. To fix it and avoid legal action, you’re told, you must call back immediately—and pay up.” You’d think everyone would know to ignore these calls. However, these criminals are so convincing, says The New York Times in the article […]
“With all the media buzz about guardians stealing money from those whom they are meant to protect and overall financial abuse issues involving seniors, it’s a good moment to revisit how surrogate decision-making works.” Protecting yourself or a loved one can take many different forms, since aging takes a toll on the ability to handle […]
“A suspicious email, a strange phone call from an unknown number, an overzealous financial adviser, a close family member: what’s the connection between all these people and things? It’s financial elder abuse.” Financial elder abuse is defined as the “fraudulent or otherwise illegal, unauthorized or improper act or process of an individual, including a caregiver […]
“One of the most dramatic scenes in the movie, is the gathering of the Thrombey Family at their father’s estate to hear the reading of the will.” One of the recent surprise hit movies has been the murder mystery Knives Out, with a star-studded cast that includes Jamie Lee Curtis, Daniel Craig and Chris Evans. […]
“At one point, Alvarado was withdrawing so much money from Silnitzer’s accounts, she needed a rolling suitcase to take it home, according to the lawsuit.” Two women and two check-cashing companies have been accused of profiting from a scheme that had a 74-year-old man suffering with dementia as their target. The scam, reported in the […]
“Particularly if you’re 65 or older, you may have recently been asked by your financial advisor, custodian or brokerage firm, if you would like to add a trusted contact person to your account.” Dramatically increased instances of elder financial abuse are behind a new question asked of seniors by their advisors these days: do you […]
A real-life problem when long-lost relatives show up. A trustee and only beneficiary of her mother’s trust explained her difficulties when her long-lost sister suddenly showed up toward the end of her mother’s life, according to the Santa Cruz Sentinel in the article “It’s never too early to disinherit children“. After disappearing for decades, her […]
The average loss to the elderly is $1,500 per successful scam. Seniors across the U.S. receiving Social Security continue to be targeted with many scams. However, a favorite seems to be convincing you to buy gifts cards with your savings, according to The Sentinel Source in “How to protect yourself from the Social Security imposter […]
Despite strong efforts by scammers, it is still possible to stay safe. We are all vulnerable to identity thieves but much of the action seems to focus on seniors, according to My Prime Time News in “Senior Identity Theft: How to Stay Safe“. More than a third of complaints to the Federal Trade Commission in […]
