Financial abuse of the elderly is growing in the U.S., according to the results of a survey released earlier this month by the non-profit Investor Protection Trust (IPT).
The online survey of elder law attorneys, financial planners, health care professionals and others who serve the elderly found that 65 percent of those surveyed have dealt with elderly victims of financial fraud.
The top three financial fraud abuses plaguing the elderly include:
- Theft or diversion of funds or property by family members ? 79 percent
- Theft or diversion of funds or property by caregivers ? 49 percent
- Financial scams by strangers ? 47 percent
To help prevent an elderly relative from becoming a victim of financial abuse, experts recommend asking them:
- If they have been approached by phone or in person and asked to provide personal information or a credit card number;
- If someone has asked to obtain power of attorney over the elderly person;
- If an in-home caregiver has asked for financial information or the whereabouts of valuables;
- If they have been referred to a financial advisor by a bank (securities salespeople often work out of bank branches and sell products on commission);
- If they have spoken to someone recently about a new investment.
The Dorcey Law Firm, PLC is a Florida Estate Planning, Asset Protection and Business Planning law firm with offices in Fort Myers, Florida and Naples, Florida. Our firm is dedicated to its clients, the rule of law and the betterment of the Southwest Florida community.
It is our goal to provide our clients with the highest level of legal services in the areas of Last Will and Testaments, Probate and Estate Administration, Living Trust, Irrevocable Trusts, Estate Planning, Asset Protection, and complete Business Planning. If you or someone you know needs information on Florida estate planning, please contact us today at 239-418-0169 to schedule your free consultation.
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Source: http://www.fortmyersestateplanning.com/?p=1986
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