Ways to Protect Yourself From Financial Abuse
A Senate hearing cites rising elder abuse including financial exploitation by family guardians. Experts say one in ten seniors living at home face abuse or neglect, with GAO noting some guardians abuse powers. Steps to guard against such conduct include recognizing risks and seeking protective actions.
MENTIONED IN THIS ARTICLE
U.S
Senate
Jaye Martin
Maine Legal Services
Government Accountability Office
GAO
Protecting Elders From Financial Abuse and Exploitation
A public advisory outlines steps to shield loved ones from elder financial abuse. It recommends consulting financial and legal experts, limiting cash use, avoiding joint accounts, and involving multiple trusted parties to monitor finances. It warns against rushed decisions, promises to care for housing, and highlights protective services and powers of attorney with careful safeguards.
MENTIONED IN THIS ARTICLE
Walter White
Allianz Life Insurance Company
North America
Allianz Life
Robert Mauterstock
Martin
Mauterstock
Millennials Fuel Wealth Gap With Lack of Home Buying
The article notes that Millennials rent more and miss out on home equity driving wealth. It cites Federal Reserve figures showing rising home equity since 2006 and rising rents since 2010, while incomes lag pre crisis levels. Experts advocate FHA options and starter homes to help Millennials enter the market and build equity.
MENTIONED IN THIS ARTICLE
Brad Friedlander
Angel Oak Capital Advisors
Federal Reserve
Yun
Friedlander
Also Mentioned on This Page
Marin
Protective Services Department
CPA
OCG
FDIC
State Banking Commission
Powellallth
Bob
Rt Powell
Lawrence Yun
The
National Association of Realtors
Opera
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