Protecting yourself from financial abuse means conducting your own financial affairs as much as possible. It also means planning ahead for when you might not be able to do this. When choosing someone to help with your affairs, it is important to trust that they will respect your wishes when making decisions. Planning ahead can make your wishes known about how you want your personal, medical and financial affairs handled.
Making plans for assistance such as joint bank accounts, power of attorney and advance health care directives should all be done with the help of a lawyer.
As an older adult, you can help yourself by:
· Staying in touch with family, friends, and neighbours.
· Keeping track of your property, bank account and belongings.
· Having cheques deposited directly into your account.
· Saying “NO” when someone (even family members) pressure you into giving them money.
· Remember … it is your money and no one else has any rights to it.
As family members or friends, you can:
· Stay in touch with the older person.
· Learn about changes that are part of the natural aging process.
· Talk to an older adult about future plans in case he or she should become unable to manage finances alone.
· Talk with the older person about scams and frauds.
· Listen to the older person’s concerns.
PREVENTING FINANCIAL EXPLOITATION
Preventing economic crime, means becoming informed about how scam artists operate and taking steps to do business safely. While some of the newer practices such as internet banking and purchasing can make life easier, they can also be risky. Frauds and scams can be carried out through the mail, on the telephone, over the internet and email, and by door-to-door ‘salespersons’. Don’t be afraid to ask questions and make sure your questions are answered.
If you don’t understand the offer, do not buy anything.
Nova Scotia Publication (pdf)
------------------------------
Other government agencies and Elder Abuse Prevention organizations have tips on how to prevent Financial Exploitation. Please check the sidebar links for information relevant to your country/state.
No comments:
Post a Comment