Tips To Prevent Fraud Against The Elderly
Written by Joy de Guzman
Elder Fraud is a growing concern. The entire family should come together to take measures to protect your loved one's assets.
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Here are a few tips to get you started:
- Educate all family members about the possibility of elder fraud.
- Set withdrawal limits to avoid large bank withdrawals.
- Arrange for pension income to be automatically deposited into the senior's bank account.
- Limit cash on hand by paying bills with automatic payments.
- Do a financial review/audit every six months.
- Put restrictions on your power of attorney.