This is not a new topic for us as a quick scan through our past blogs will show. I came across a nice article from Florida with some good pointers I would like to share. The article titled Scams on the Elderly: Senior Care Tips for Fraud Prevention is a good read.
The article gives a few pointers on helping our parents or other loved ones avoid Elder Abuse.
- Regularly evaluate how things are going for your loved one. Hire a geriatric care manager to help you keep an eye on things from a distance, get a periodic evaluation and check in with calls and in-person visits. Continual communication can help you spot issues, as well as give your loved one opportunities to mention concerns. A professional assessment (and ongoing evaluations) can help determine when it may be necessary to assist with managing finances and household maintenance. Contact us to learn more about geriatric assessments and other eldercare assistance services.
- Share information about popular scams with your loved one and educate on issues such as giving out personal information.
- Help set up a dignified "out" for solicitations. Perhaps your loved one can say they have their "advisor" review everything before they make decisions (whether that really is some type of professional advisor, or running it by you). You might even suggest/share that you do the same yourself, as it is easy for anyone to get caught up in scams and some time to think about purchases and decisions helps.
- Determine ways to simplify finances and possibly consider a system for oversight (regular review/access by a trusted professional or family member).
At Idaho Estate Planning, we understand the challenges faced by elder Americans. We have the experience and expertise to help you maintain your options and protect yourself as well as your loved ones now and into the future. Remember, good planning is no accident.