Category Archives: Elder Abuse
What Kind of Estate Planning Mistakes Do People Make?
Estate planning for any sized estate is an important responsibility to loved ones. Done correctly, it can help families flourish over generations, control how legacies are distributed and convey values from parents to children to grandchildren. However, a failed estate plan, says a recent article from Suffolk News-Herald titled “Estate planning mistakes to avoid,… Read More »
Preparing for the Impact of Alzheimer’s Disease
The impact of these diseases will not just be on the individuals, but on their spouses and families. Surveying 1, 000 mass affluent and high net worth families currently caring for relatives with cognitive decline, the study found that the lifetime direct and indirect costs can be more than $750, 000. A recent article… Read More »
Protection from Long-Term Care Insurance Fraud
Long-term care (LTC) insurance is an important issue. However, making matters harder for many seniors is the prospect of long-term care insurance fraud. The Street’s recent article entitled “How to Protect Yourself and Your Family From Long-Term Care Insurance Scams” say this is a major issue with the skyrocketing costs of long-term care services… Read More »
Elder Financial Abuse Fraud Occurs, When No One’s Watching
The case of Nice vs. U.S. is a dramatic example of what can happen when there are no professionals involved in an elderly person’s finances and one person has the power to make transactions without supervision. In the article “Tax case reveals possible intrafamily fraud” from Financial Planning, a trusted son allegedly decimated his… Read More »
What are the Latest Senior Scams?
While we are concerned about finances and our health with COVID-19, we also must be uber-aware of four points of contact: phone calls, text messages, emails and social media. CNBC’s recent article entitled “Beware these common scams that specifically target seniors” explains that seniors in the U.S. are more apt to be victims of… Read More »
What Is Congress Doing to Address Affordable Senior Housing and Elder Abuse?
Representatives Katie Porter (D-CA) and Financial Services Committee Chairwoman Maxine Waters (D-CA) have introduced legislation that would provide $1.2 billion of relief to the 1.6 million older adults who live in affordable senior housing communities and the providers serving them. McKnight Senior Living’s recent article entitled “Federal legislation tackles affordable senior housing, elder abuse”… Read More »
Medicare Patients Be Wary of COVID-19 Scams!
It’s still not easy to get tested for COVID-19 in many states, so it’s not surprising to learn that scammers are exploiting the shortage. They’re especially preying on the elderly. Money Talks News’ recent article entitled “Are You on Medicare? Beware Coronavirus Scammers” reports that scammers use stolen personal data to commit Medicare fraud… Read More »
Must Seniors at Care Facilities Sign over Stimulus Checks?
The Federal Trade Commission (FTC) has announced that some states across the country have received reports of nursing homes and assisted living facilities that have falsely said that COVID-19 stimulus checks are “resources, ” under the rules of federal benefit programs that must be used to pay for services. It’s “not just a horror… Read More »
Elder Abuse Continues as a Billion-dollar Problem
Aging baby boomers are a giant target for scammers. A report issued last year from a federal agency, the Consumer Financial Protection Bureau highlighted the growth in banks and brokerage firms that reported suspicious activity in elderly clients’ accounts. The monthly filing of suspicious activity reports tied to elder financial exploitation increased four times… Read More »