One of the major challenges that we face within the elder law community is the problem of elder abuse, and it exists in various different forms. The type of elder abuse that we would like to highlight here is elder financial abuse.
The extent of elder financial abuse can be difficult to calculate because a high percentage of cases, perhaps the majority, go unreported. This is because many instances of elder financial abuse are perpetrated by people who are known to the victims, oftentimes family members.
Not only do the elders who are victimized want to protect family members or friends who abuse them, they actually need the help that is provided by the abusers. As a result, they don’t want to make waves or “rock the boat.”
When a caregiver or helper is skimming money from a senior citizen, it obviously impacts the elder in question. In addition to stealing money, valuable personal assets can also be taken that were intended to be passed on to family members after the death of the senior citizen.
Senior citizens are also victimized by people who are not family members or friends via scams of all types, and this is something to take into consideration when planning to protect assets.
Seniors face numerous challenges. Knowledge is power, and planning is key. If you would like to develop a comprehensive plan for aging, right now would be a good time to pick up the phone to arrange for a consultation with a qualified Los Gatos, CA area elder law attorney. A law firm with a geriatric care manager can also help long distance loved ones make sure that their elderly loved one is being cared for by reputable, caring and trustworthy people.
- Joint Tenancy Problems in Estate Planning - March 2, 2021
- You Never Know: Planning for the Unexpected - August 29, 2018
- How Are You Planning for Long-Term Care (LTC) Expenses? - May 31, 2018
