The majority of adult children whose senior parents live on their own will go out of their way to ensure that their mother and father are living safely and comfortably. Depending on the circumstances, this could mean little more than daily phone calls, or it could also mean regular visits to perform chores and wellness checks.
There are many worries a person may have regarding an elderly loved one. For one, they may have concerns about whether their loved one will have enough resources to have a comfortable retirement. One thing they might be quite worried about on this front is the possibility of major depletions of their loved one’s assets.
What particular end-of-life care a person receives can impact many things. This includes where they end up spending a majority of their time at the end of their life: at home or in a hospital.
When a person is appointed conservator of a relative or other loved one, they are granted some very significant powers regarding their loved one’s finances. Given the power that is given to conservators, it is no surprise that there are many duties and responsibilities placed on these individuals.
From cons, to scams, to thefts, to fraud, to false promises, to coercion, to scare tactics, to forgeries, elder financial abuse can take all manner of different forms. Whatever its particularly type, elder financial exploitation can wreak havoc on an elderly individual and their family, financially and emotionally.
What trends are occurring when it comes to how common elder financial abuse is matters greatly, given how harmful such abuse is to its victims. A recent survey indicates that we might be starting to see an encouraging trend on this front: a decrease in elder financial abuse.
There are all kinds of important decisions we make in our everyday lives. Sometimes, circumstances will make it so a person no longer has the ability to make these decisions. When this occurs, a court may decide to appoint an individual to make decisions for the person, such as a guardian or a conservator.
Decisions regarding medical care can have some very big implications on a senior's health and quality of life. Thus, many elderly individuals care very much about remaining the one in control of these decisions. However, there are things that can cause a senior to no longer have the authority to make their own medical decisions, such as incapacity. One thing elderly individuals may desire to do is put documents in place in advance to help control what happens with their medical decisions if they lose decision-making authority.
Elderly individuals can suffer greatly when they are subjected to financial abuse, and seniors can sometimes have significant vulnerabilities to such abuse. A recent survey indicates that, despite this, being worried about financial abuse is actually rather uncommon among elderly individuals.