hello i’m dr. michael davis at aging investor comm and we have for you today a short CashNews.co illustrating the seven of the main warning signs of financial elder abuse if you want to protect your clients and loved ones from abuse watch this and be wise about this problem hello
there I’m Carolyn Rosenblatt RN and attorney at aging investor calm today we’d like to help you understand the seven warning signs of financial elder abuse now if you’re a financial advisor lawyer or an adult child of an aging parent you need to be on the alert for signs that
financial abuse is happening or is a risk for your aging client or family member a change in the elders pattern of handling money is a common red flag there are ways that the abuse may surface some will show you that a danger is looming others can reveal that abuse is probably already going on
either way you need to act so let’s go through these seven warning signs to help you be aware of them first your client has always had a trusted person whom he appointed as an agent on his durable power of attorney form sometime ago suddenly he changes and gives that power to a different
person and you question that new person’s motives and behavior something doesn’t feel right what you need to do about it is to explore the problem ask questions why did the client change what was going on was they subject to being manipulated see what you can find out second your client
whom you’ve known for some time is not able to access her own funds if you manage or supervise those funds be aware of this one her Assets could be under the control of someone else who has stopped your client from making any decisions about her own money their meat may be a
legitimate reason for this such as cognitive impairment or it could mean that someone is taking funds from her find out this is very important if you don’t ask questions you’ll never know and someone could be getting away with it third the third warning sign of financial abuse you
receive a change of address notice indicating that the client was no longer getting mail where he’s always been getting mail as long as you’ve known him you heard nothing from him about moving and we’re sure he didn’t want to move it could mean that someone other than your
client is diverting bank statements and Financial Statements to himself to cover up abuse or to steal from the elder what you need to do about it is ask questions and you need to report it if you think abuse is happening the fourths warning sign is when you call your client someone
else answers the phone and says oh he’s out and you call back and they say oh he’s not available your written communication attempts which should follow that receive no response after many tries you get the impression that someone is stopping your client from taking your calls this is a
clear red flag isolating an elder from contact with others is often what happens with elder abuse this definitely needs to be reported the fifth warning sign of potential financial abuse your client has always been a conservative investor preferring low risk products over the long period of time
you’ve known him suddenly he wants to withdraw cash sometimes in large amounts to put into things you consider high-risk maybe you consider them downright dangerous this calls for action on your part what you should do is to contact any and all concerned family members or others to let them
know about this before it’s too late your client could lose everything the sixth warning sign in checking your clients account you note you notice numerous large withdrawals unexplained and completely outside the norm for your client again this is a huge red flag warning you that your client
could be under manipulation or the influence of an abuser why would he be taking out all this money all of a sudden ask your client about this immediately and if it doesn’t sound right please report your suspicions the seventh and last warning sign of potential financial elder abuse your
client comes to your office with a relative or friend whom you’ve never met and who has never before been involved in your clients financial matters your client seems pressured to include this other individual in obtaining all of his account information and to directive transactions if
you’re worried about this you have a few choices you can hold all transactions and if you’re in a financial institution you can escalate the matter to your Compliance department above all whoever sees this should make a written record of concerns you can also report
this matter now what do we mean when we say report it well we’re talking about contacting your county’s Adult Protective Service this is an arm of law enforcement they usually have a 24 hour hotline and to report the problem an online form will be sent to you or one will be mailed to
you and you fill it out with the details of the date time place and reasons for your suspicions you do have to know the name of anyone who has raised your suspicions give Adult Protective Services something to work with law enforcement can’t catch financial abusers unless we help them every
one of us needs to stand up for vulnerable aging adults or those who are subject to manipulation by others those are our seven signs of financial elder abuse potentially happening and just to review if your client suddenly changes the durable power of attorney if your client doesn’t seem to
have access to her own funds if there’s an odd change of address notice that you get or if no one will allow you to talk to your client on the phone or your clients suddenly does something like withdrawing a large amount of cash that’s never happened before or you notice in checking the
statements that there are large withdrawals that are unexplained and finally a friend or relative who’s never been involved starts getting involved in your clients financial affairs in an odd way help law enforcement protect vulnerable elders from abuse recent research has shown us that
financial elder abuse cost seniors well over thirty six billion dollars a year learn more about how to spot the early warning signs that make your client vulnerable sign up now for our continuing education acCredited one-hour webinar watched on demand about seniors and diminished
capacity let me show you how to sign up now first go to our website at aging investor calm second click on the webinar page and scroll down to the first webinar entitled best practices for managing clients with diminished capacity third register with your name and email that’s it and from
aging investor comm if you in your organization need help in developing a plan of how to protect your clients whether they are older or vulnerable or you think they can become vulnerable contact us at aging investor calm and we’ll tailor a presentation or training program especially for
you
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This is crazy. I reported abuse and adult services said everything fine. Thus person who abusing is her husband . He filed for her on cares covid money. She has no access to her money. I filed all these and they still came up thst nothing is wrong .
In California the A.P. Service will not investigate financial abuse it is considered a civil issue. I cant afford 100 k in legal expences. And neither can my disabled senior brother.
What do you do if it’s a family member doing this to a grandparent
I don’t need anybody controlling my money what I need is for my electronics to stop being hacked people stop being over bearing with my stuff and treating me like a child and back the fuck off and get these people out of my electronics and the stockers away for me and get a protection order in place
Money where is my money
Lying, frauds, forgery, identity theft, mail theft, fraud power of attorney. No contact, ignored requests for accounting. Hacked accounts, hacked social media, locked out of social media.
It's a myth that APS and other similar agencies will do anything about it. Several members of our family reported when my aunt's son and his wife kept promising help for his parents ONLY IF they gave him money first. It wasn't until we were alerted that my aunt's checking account was empty that we saw the bank statements, which contained pics of the checks. She had written over $80k in checks to him but never tried to balance her account, so didn't know she was running out. Famly members contacted the state and county APS twice. They never even got back to us. When we called them after waiting 2 months, we were told they won't investigate him since he lives in another state, though it's only 20 minutes from his mother.
When another relative reported again 6 months later, they were told that APS would not investigate since the son and daughter-in-law were not the primary caregivers. It's odd that, as long as the perpetrator of the abuse is doing NOTHING for them, it's "okay". It's only the person who IS doing something for the elderly that can be investigated. How crazy is that?
空氣
整个國家的管理是很大的危机
但是三年病毒银行很嚴重出現問题
So.
What happened
to the FBI?
I called them on
every single person
involved or aware
of this crime.
Well, kudos to staff
and internal auditing.
My peeps.
Unless its the financial advisor doing the theft and abuse. Then you have to go to the local PD, SEC and FINRA. APS won't take the information
Calling APS is a good way to get into a guardianship which is notorious for ripping off the elderly and sticking them in a hell hole to rot away. In fact if I was old I'd rather take my chances with the scammers.
My mother is being taken for a HUGE amount of money and nobody will help
Sheila, we are very sorry to hear what happened to your family. Financial Elder Fraud is a major problem in our country. Often by the time we get involved the money has been spent.
Bros stole from my Saint of a mother since my dear beloved sister died in 2010
Mother worked rotating triple shifts in a glass factory 30 years. She was set for her golden years until they stole her gold while neglecting her. They bought 2nd and 3rd homes.
I was designated caregiver by social services revived her and she thrived for several years until they abducted her for supposed visit never returned her.
I called law enforcement dozens of times worthless at arresting them though they felony deathreated me and terrorized us both. Sold her beloved home where she swam and had neighbors of over 50 years
Within months she became demented in a facility and into a vegetative state dying and suffering for a year.
The brothers and wives and bribed niece and nephew divided up her million dollar estate and police and APS totally lax in their responsibility of investigating her bank account where extensive fraud evidence found.
Am trying best to prod them along to do their job now and indict them all as they conspired to RIP her and me off.
So much for RIP for ma.
Justice for disabled elders in America is a SICK GIGANTIC JOKE. I'm now 75+, had a disability all my adult life which caused me to be denied military service & live alone. I've reported elder crimes for 5+ years including multiple felonies by a confidence guy from Portland Oregon who admits in writing he's known I'm disabled, dealing with serious life threatening health issues, old & live alone …yet he not only stripped me of whatever he could get his hands on while I was laying on an ER gurney… he then did all he could to trip me up in his revenge making my life a living hell because others demanded accountability & reprimanded him for his abuse, fraud and manipulation of a sick elder …..and authorities do NOTHING after being repeatedly told of this con-artist caused my Soc. Sec funds to be blocked, missing Soc. Sec under his control or direction, his Postal Fraud, his attempted extortion, his abuse, manipulation of a sick elder for his personal agenda, Class "C" grand larceny theft of my property, neglect, & scams. Far wonder, Oregon is now the worse state for any elder to even pass through even with documented proof, this guy laughs all the way to my bank and controls. Elders get no holidays nor coffee break from abuse, manipulations & fraud …we live with it 24/7 ..365
JUSTICE DELAYED …IS JUSTICE DENIED EVEN MORE SO FOR THE ELDERLY…. IT'S CRUEL TORTURE.
Please, don't just say how bad it is …..get ALL elders real help NOW ….REAL JUSTICE NOW !!!! …before these con-artist kill us off. God will bless you for indicting these creeps as that IS the only way to halt elder exploitation.
This is exactly what's happening to my mother. My sister took POA and stole over
20 thousand dollars from my mothers bank account. She also made up a story about my mother having dementia and as a result she lost her driver's license. My sister basically wants my mother dead so she can take her money. Plus she left my name out of the Trust This is a very difficult situation!? I need advise and counsel!
This is a very good video! Thank you for sharing
Financial elder abuse is a real threat to many seniors, and it's important for family members to understand the risks and to help the seniors they love properly manage their finances. This article shares some helpful tips: https://www.continuumcare.com/seniors-and-finances-providing-help/
APS in Florida is useless!
My father who has mild to moderate dementia mixed me as DPOA early this year saying he's in charge of himself now. Today I find out his abusing wife had him take me off of being able to get office visit notes from one of his specialists. He's having home repairs and living at wife's place and I'm banned from going there. Getting my notes together to notify APS.
Change of address after elder dies… I’ve seen it happen
A Probate Attorney Conservator stole all of my ex sister n laws stocks. After court appointed him he never contacted her in any form. He will not answer phone. The one time he did, she asked for medication money and he refused❗Reporting to the Governor and going to file for her file of financial management. Apparently, he's been doing this for years❗Many more claims about him on internet. Can I get a class action suit started❓
Alabama
Great information! There are so many warnings signs to watch for to help keep seniors physically and financially safe. I found these tips helpful when determining if it was worth it for my loved one to have more help at home. https://montebellocares.com/mom-seems-different-know-home-care-needed/
THE SOCIAL WORKER AT "TRINITY LIVING CENTER" IN GROVE CITY PA SHOULD NOT HAVE A NOTARY LICENSE! T.S. SPECIALIZES IN ALL AREAS OF EXPLOITATION OF THE ELDERLY AND DISABLED…AND A FORENSIC STUDY OF ALL DOCUMENTS PRODUCED BY T.S. WOULD PROVE USEFUL AND PREVENT FURTHER EXPLOITATION OF THE ELDERLY AND DISABLED VICTIMS OF "QUALITY LIFE SERVICES."
No shit. Abuser has been questioned AND reported. Abuser lives off of $600 retirement. 2 homes, 2 side-by's, 2 trucks, 2 camp trailers, 2 horses, etc., etc. Hands are elbow deep in my mother's cookie jar & the abuser is STILL DIGGING IN! WTF?!!!!!