|
Tips to Prevent Financial Elder Abuse
by Paula Kamena
Marin County's senior citizen population continues to grow and as it grows so does
the opportunity for financial elder abuse. Consistent with our philosophy of "Prevention, Prosecution
and Protection," our office has given a high priority to the detection and prosecution of elder abuse.
Despite enhanced criminal penalties, some unscrupulous individuals remain undeterred and continue to
prey upon vulnerable seniors. Unfortunately, long prison sentences will not restore a victim's stolen
life savings. Consequently, we must all work together to detect and prevent elder abuse. We have
developed some tips to help you detect and hopefully prevent your friends, neighbors or someone you
love from becoming a victim. In most circumstances such referrals are confidential.
Be watchful for the following signs
- Sudden changes in banking practice.
- Abrupt changes in a will or financial documents.
- Unexplained disappearance of valuable possessions.
- Substandard care being provided or bills going unpaid despite adequate financial resources.
- Statements by the elder about suspected financial exploitation.
Beware of Illegal or Unscrupulous Contractors
- Deal only with licensed contractors. Ask for the contractor's license number. Call the Contractor's
State License Board at 800-321-2752 to verify that the license number is correct, and that the contractor
is bonded.
- Don't hire the first contractor to come along. Take bids, ask for and check references.
- Don't pay cash, don't pay the full costs of the job up front, and don't let your payments get ahead
of the work completed.
Beware Living Trust Scams
- Only an attorney may prepare a living trust for you. Insist on meeting with the attorney yourself.
- Be cautious of claims that your trust will be "reviewed" or "checked" by an attorney.
- Be careful of salespersons that try to offer additional products like life insurance or annuities
once they have access to your financial information. These products may not be in your best interest.
Marin County law enforcement agencies have developed a countywide protocol for
investigating claims of physical and financial elder abuse. If you suspect that you or someone you
know is a victim of elder financial abuse, be sure to contact your local police or the District
Attorney's Consumer Protection Unit.
Return to Consumer Protection Unit Main Page
|
