Try: Put all financial instructions in writing keep up to date records of all financial transactions in a safe place use direct deposit keep checks in a safe place don’t sign a blank check allowing someone else to fill in the amount the cr should never give someone his atm credit card or pin or social security number the cr should check his bank statements carefully for unauthorized withdrawals be cautious of joint accounts because both people have equal access to the money when in doubt about bank transactions contact the bank to stop payment on checks to flag or to put a hold on the account or to close an account before signing a power of attorney for a bank account general purposes or for financial management know and trust the person that named as the agent be aware that a power of attorney is a powerful legal document that can sometimes be used by untrustworthy people to legally steal someone someone’s money and assets check with an attorney or make an appointment with legal services before executing a power of attorney the cr should get to know his banker attorney and or financial advisor they can help detect changes or unusual activity that might signal problems if the cr needs help paying bills consider automatic bill paying services through a bank or hire a bonded professional if there is someone helping the cr with his personal finances or bill paying the cr should ask a trusted friend or professional to regularly review bank and other financial statements just say no to bogus prize offers travel packages get-rich-quick schemes and even pleas from unknown charitable or religious organizations in telephone solicitations the cr should never give his social security or credit card number over the phone question bills or notices for healthcare services that the cr does not understand report healthcare providers that have suspicious billing practices the cr should never give his medicare or medi-cal number to unauthorized providers or for free health care services do not attend living trust seminars seek assistance from a lawyer specializing in elder estate planning

Materials: n/a

Categories: Sage, Topic, Financial, Legal

Information: n/a

References: Adapted from how to prevent elder financial abuse by california advocates for nursing home reform 2008 available at

Keywords: Finances financial abuse banking power of attorney scams estate planning healthcare insurance medicare fraud legal

*This information is listed as a Tip and is not explicitly medically licensed