[Fredslist] Watch out for Elder Financial Abuse {Promo}

[Judy Heft]

I am new to Gotham and want to get this important information out to all of
you. Happy Holidays.

 

What is Elder Financial Abuse?

 

It is the theft or embezzlement of money or any other property from an
elder. It can occur when someone steals their money, social security checks
or possessions.  It can be as simple as taking money from a wallet or
manipulating a victim to turn over or sell their personal property or
belongings. It is not uncommon for seniors to become victims of financial
abuse. In some cases it is done by someone the senior knows and trusts. The
perpetrator can be anyone from a stranger to a friend, caretaker or a family
member or a trusted financial advisor. 

 

I have a client who is 101 years old, living in independent living. He is
cognitive and is starting to weaken a little physically. His only family is
a nephew who lives about 2 hours away. He recently hired a home health aid.
The caregiver won the confidence of my client and gradually started writing
checks payable to cash and coercing him to buy gifts for her and her son.
The good news is I caught it before she wiped him out and the bad news is
she got 16K in cash plus gifts. We notified the agency, she got fired, a
police report was filed and we hired a completely new agency and new
caregiver to start immediately. The agency is bonded so he will recoup his
losses. It is so important to have a watchful eye on your accounts at all
times. My client added me as a signer on his account and I can go on line ad
watch his banking activity on a daily basis and not have to wait until the
next bank statement arrives. He feels betrayed and at his age is having a
very difficult time giving up his independence. I'm just glad that he trusts
me and that I am here for him. 

 

 

 

Judy

 

Judy Heft

Principal

Judith Heft & Associates, LLC

 <http://www.judithheft.com> www.judithheft.com

judyheft at optonline.net

917.494.3986

FAX 203.978.1857

 

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