Our firm receives telephone calls every month from concerned family members. Some of the senior financial abuse situations that are discussed involve:
One of the easiest ways to curb elder financial abuse is to be actively involved in the senior’s life. That involvement includes a detailed knowledge of all of their financial affairs. This necessitates you sitting with them every month to review statements, offers they receive, and other financial affairs.
Teach your loved one to ask questions or to call you whenever they are unsure. How can you win the Italian sweepstakes if you did not play and does such a sweepstakes even exists? Teach them to screen their phone calls or request the caller’s number so that a fiduciary representative or attorney-in-fact can call them back.
Notify the bank of suspicious activity. The consumer protection division of the Attorney General can help prevent elder financial abuse. If necessary, report the family members who are financially abusing the elder to the state’s attorney.
These scams reinforce the need for your parents and loved ones to engage in good estate planning whether they are aging in place or at an assisted living facility or nursing home. When a loved one is placed in a care facility seek the assistance of an experienced elder law attorney. The fees you pay will normally result in significant savings to your family.
Mr. Abraham is an experienced attorney and founding member of the Law Firm of Abraham & Bauer. The Towson, MD office of the firm concentrates its practice in Elder Law, Estate Planning, Probate, Medical Assistance (Medicaid), Guardianship, Asset Preservation and Fiduciary Representation.
He is an active member in a number of professional organizations that focus on law, the senior community, and estate planning. He works with clients in Central Maryland, especially in Towson, Hunt Valley, Lutherville/Timonium, Parkville, White Marsh, Bel Air & Northern Baltimore City.
Schedule a consultation to help you and your loved ones.