Here are some tips to protect yourself:
It is a sad fact that elderly adults can fall victim to abuse, often at the hands of a family member or trusted friend or employee. The California State Bar estimates that one in seven seniors suffer some form of physical, financial, or psychological abuse.
Some common forms of financial elder abuse include:
Misuse of a Durable Power of Attorney: a person convinces a senior to sign a power of attorney, then uses that document to withdraw money from that person’s bank or brokerage accounts or to open fradulent credit cards in that senior’s name.