How can I get help for Elder Financial Abuse?
There are many reasons that elder financial abuse occurs. Most often, the abuse is by family members or caretakers – people that the elder individual relies upon for their care. There is fear of retribution – or out right rejection. As painful as the financial abuse is, the betrayal is even worse.
Our office can help. Many times, a formal caretaker agreement or power of attorney can be drafted so that the elder individual is protected. The caretaker/family member is also then reimbursed for their out of pocket expenses, making financial abuse less pressing. Sometimes, there is also physical abuse. Dial 9-1-1 or contact the Chester County Office of Aging to report elder abuse (610-344-6350).
With powers of attorney, we recommend a “springing” power of attorney. This allows your personal physician to decide when, and if, you are in need of a power of attorney to handle your financial affairs. This assists your agent as well, so that they do not have to make that determination. Sometimes, that decision alone is so painful that your agent will not act in time to protect your finances.
Contact Hudson Voltz, Esquire or Janet Satterthwaite, Esquire, to learn more.