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Tag Archives: Elder Fraud

Five Ways to Help Your Parents Keep Their Financial House in Order

Many times, our parents don’t need (or want!) someone to completely take over their checkbook. Sometimes all they need is a little help. If they are willing to share information with you, here are five ways you can provide assistance while helping your senior maintain independence. 1. Review the incoming mail with your parents. Many […]

What to Know About Your New Medicare Card

If there is a way to scam you out of money, thieves will be all over it. Unfortunately this is happening with the rollout of the new Medicare cards. Medicare is removing Social Security numbers from Medicare cards. By April 2019, all Medicare participants will receive a replacement insurance card with a new, unique number. […]

Equifax Breach & Protecting Yourself

Note: This is a guest blog originally posted by my colleague Alison Salisbury, President and Founder of Fiscally Fit, Inc. in Los Altos, California.  Between Equifax and the Yahoo breaches, millions of Americans and billions of accounts were exposed. Rather than rant and rave about how security violations happen, I’d like to focus on how […]

How to Protect Yourself Following the Equifax Data Breach

It is estimated about 143 million Americans had their personal information stolen during a data breech at Equifax earlier this year. This is just about half of the population of the United States. Essentially, any individual with a credit report is potentially impacted. Equifax is one of the three major credit reporting agencies.  These agencies […]

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 […]