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.
Hearing aids can have many quality of life benefits for seniors who have hearing loss. Might the use of such devices also help elderly individuals with hearing problems retain more of their cognitive abilities as they get older? A recent study points to it being a possibility.
Many different kinds of financial decisions can end up coming before an elderly individual. Some examples include decisions regarding investments, bank accounts, real estate, credit cards or debt. These decisions can have major impacts on a senior's life.
Many different things can happen during the course of guardianship proceedings. For example, in some guardianship cases, a court will decide to appoint a temporary guardian for an individual to serve while the guardianship petition regarding the individual is being considered by the court.
It is not uncommon here in Massachusetts to have an elderly loved one who suffers from Alzheimer's. Around 12 percent of the state's seniors have this disease.