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Tag Archives: Elder Fraud

Protect Yourself from Scams: Stop and Think

If scamming people wasn’t so profitable, there wouldn’t be so many con artists tricking people out of their money. There are many types of scams. Here are three which recently happened in my world: 1. My mother answered the phone to this greeting: “Hi Grandma, I’m in Florida to attend a funeral.” Evidently my child […]

Simplify Your Loved One’s Bank Accounts

When Caroline began helping her mother with bill-paying, she was quickly overwhelmed. “I couldn’t believe the mess. Mom had four bank accounts and several credit cards,” she said. “There was no system to her bill paying.” In her late 80’s and suffering from macular degeneration, Caroline’s mother randomly paid bills from the first checkbook she […]

A New Tool to Protect Mom from Telemarketers

Last August I wrote about managing your loved one’s financial affairs from a distance (When you can’t Be There: Managing Money from Afar). Since then, I have learned of a new tool that can help adult children and their parents manage spending money. The True Link pre-paid VISA debit card is designed specifically for seniors […]

When You Can’t be There: Monitoring Money from Afar

Money is one of the greatest stressors for adult children overseeing their parents’ care from afar. They want their parents’ caregivers to be able to purchase items their parents need, and they want their parents protected from potential financial abuse and identity theft. I believe most caregivers are honest people. It only takes one person […]

Crime of the 21st Century

Elder financial abuse has been called the “Crime of the 21st Century.” A 2011 MetLife Study of Elder Financial Abuse estimates that elder financial abuse costs American seniors $2.6 billion a year. Yet, according to the National Center on Elder Abuse, only 1 in 25 cases of financial elder abuse is ever reported. Financial abuse […]