Do you know the signs of elder financial abuse when you see them?
Is Buzz Aldrin, the former astronaut who followed Neil Armstrong onto the moon, no longer competent to handle his own affairs? Are his spending habits symptoms of financial exploitation and elder abuse, or are two of his children trying to exploit their father's advanced age for their own selfish desires?
Stan Lee is often thought of as the father of the modern superhero. There's good reason for that. Among other things, he's one of creators of many of Marvel's most beloved heroes, including Spiderman, Iron Man, the Hulk and Thor.
If you're approaching your senior years (or are already in them), you've probably already been advised to choose someone to hold your power of attorney (POA). Yet, many seniors hesitate -- often because they don't fully understand the limits placed on one.
Seniors, especially those who are largely isolated from others due to illness or infirmity, are particularly vulnerable to abuse, including financial exploitation.
There's a difficult problem faced by a lot of older Americans. They may genuinely need nursing home care for a period of time -- either after an illness, a surgery or toward the end of their lives. However, they're afraid that if they enter a nursing home that the biggest thing they have of value to pass to their children -- their home -- will end up going to the state as a result.
Financial exploitation can happen to anyone. There are plenty of con artists and thieves out there willing to take your money. Some seniors are, unfortunately, at the most risk from members of their own family, neighbors and friends.
Do you have the medical power of attorney for your mother, father or another relative who is in a nursing home?