Elderly Financial Issues May Point to Senior Fraud

Elderly financial issues
Elderly financial issues can stem from a variety of causes, and these guidelines can help pinpoint the source.

Discussing elderly financial issues can be considered taboo. This can be a big challenge even for the closest of families. With the addition of aging care issues, this kind of conversation can be more complex, and maybe even combative. When an individual is facing financial difficulties, it can often be embarrassing and lead the older adult to hide money-related problems from their friends and family. Cognitive impairments and elder fraud are often the sources of financial issues, and these may be hard to pick up on until money becomes a real problem.

Ensuring that a senior loved one is not being taken advantage of by strangers, friends, or even family members is essential. Here are several suggestions:

  • If the person has memory or cognitive issues, sign them up for automated payments for utilities and other recurring expenses.
  • Make sure taxes are being paid on time.
  • Keep tabs on how and where the person spends money.
  • Get to know who the senior talks to and sees about their finances.
  • Be on the lookout for subtle changes in financial ability.
  • Avoid leaving valuable or precious jewelry out in the open. Keep these items in a safe or lock box.
  • Encourage senior loved ones to utilize professional financial advisors for taxes and investments rather than to rely on friends or family who may have hidden agendas.

Home Care Services Can Help

Elderly financial issues and fraud can be serious problems. Having a trustworthy caregiver around can help older adults make informed financial choices and remain safe from scams and fraud. If you’re worried about a senior loved one’s financial health, the senior care professionals at Help at Home Senior Care provide dedicated home care assistance in Lincoln, CA and the surrounding areas.

An in-home caregiver can:

  • Assist with sorting mail and correspondence to make sure bills are paid and that seniors do not respond to financial solicitation scams.
  • Answer phone calls to help avoid phone scams.
  • Discuss any financial warning signs that arise with the senior’s trusted family members.
  • Help with shopping.

While discussing a senior’s financial issues can be challenging, it’s better to make certain their finances are in order now rather than uncover a disaster later. If you’d like help talking to a senior loved one about financial issues or would like to know more about other warning signs that help at home may be needed, connect with Help at Home Senior Care. Our in-home caregivers are thoroughly vetted, thoughtfully chosen, and overseen by supervisors to ensure an aging loved one receives the best quality care. We offer professional home care assistance in Lincoln and the surrounding areas, and we can help get those important conversations going. For more information on our services, contact us at (530) 885-7444. To learn about all of the communities where we provide care, please visit our Service Area page.