Oct
24
2017

Preventing Financial Elder Abuse-Personal Relationships

One red flag that we have seen showing possible elder abuse is exhibited by family members who are overly zealous about preserving the money that is being spent for the older person’s care. We have seen family members who are “caring” for an older person, refuse to spend sufficient funds for the older person’ care. This attitude may actually endanger the older person’s health and welfare. These family members may be more concerned about preserving their possible “inheritance” than they are in caring for the older relative, and they may be guilty of financial elder abuse. These are the same family members who will say that this is the older person’s money, that the older person has earned it over their lifetime, and that the family members don’t really care if they “get” anything. Another red flag for elder abuse that we have seen is the sudden advent of relatives or old friends, who have not been seen for years, who are now expressing great concern and interest in “helping” the older person. Another “red flag” for possible elder financial abuse are caretakers who show an unusual interest in the older person’s finances. In these cases, it may be appropriate for the older person to engage the services of a geriatric care manager or professional fiduciary, who can manage the older person’s finances. The older person’s attorney-in-fact under their financial durable power of attorney may be called upon to engage these services if the older person has lost capacity. An elder law attorney and Medi-Cal attorney can help you with the appropriate language and design in the creation of your financial durable power of attorney and other estate planning documents, which may be needed for your care and for Medi-Cal qualification. As always, you should have your estate planning documents prepared sooner than later, and while you still can.

Michael J. Young

Elder Law and Asset Protection Attorney

Medi-Cal Attorney Walnut Creek

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

No Comments »

RSS feed for comments on this post. TrackBack URL


Leave a Reply

You must be logged in to post a comment.

Powered by WordPress | Theme: Aeros 2.0 by TheBuckmaker.com