Financial abuse of care recipients cr is a common problem the following are tips to prevent financial abuse

Try: Don’t keep large amounts of cash on hand don’t take money from your bank account just because someone tells you to never give out personal details such as your bank account number social security number or credit card number to any person over the telephone check your bank statement carefully each month if the cr has a trusted adult child consider requesting the bank to send a duplicate copy of the statement to that child so that another pair of eyes can check that there is no suspicious activity on your account buy a shredder and shred all unused credit card applications ask the bank to call you if any check over a certain amount is ever presented to that branch for payment beware of family members persuading you to sign deeds or assets over to them keep your checkbook and spare checks in a safe place financial or material exploitation is defined as the illegal or improper use of an elder dependent adult adult’s funds property or assets examples include cashing an elder dependent adult adult’s checks without authorization permission forging an elder dependent adult adult’s signature misusing or stealing an elder dependent adult adult’s money or possessions coercing or deceiving an elder dependent adult into signing any document e g contracts or will misusing conservatorship guardianship or power of attorney

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Categories: Financial

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Keywords: Financial abuse

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

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