In the first article in the series, we explored the science that explains why older adults may be more likely to fall for financial exploitation schemes. This article, the second in the series, takes a closer look at the signs and symptoms of elder financial abuse.
What should family caregivers watch for? We posed this question to Shannon Miller, a board-certified elder law attorney at the Miller Elder Law Firm, a Life Care Planning Law Firm in Gainesville, Florida.
Over the next several decades, as Baby Boomers pass away, trillions of dollars will pass from one generation to the next. If you’re in that age cohort and you have an estate plan, you may think you’re all set.
But are you really?
If someone you love has received an Alzheimer’s diagnosis, it often takes a while for the shock to wear off. When reality starts to set in, your mind may wander to thoughts about how much it will cost. How will you find the money to pay for the things your loved one will need when he or she is living at home? The tab for things like medical care, drugs, home care, items to keep your loved one safe, and home renovations can add up quickly. If you reach the point where long-term care is needed, how will you pay for it?
The financial exploitation of America’s senior citizens is big business. Researchers say that between 20 to 40 percent of seniors over the age of 70 are affected. Financial exploitation costs older adults about $36 billion every year, roughly the same amount that McDonald's earned in 2019.
If you’re family caregiver who has consulted Google to find information and resources, you’ve probably discovered that the free resources you can find online are every bit as fragmented as our nation’s long-term care system.
It’s official. After a long wait, the Blue Water Navy Vietnam Veterans Act of 2019 (Public Law 116-23) took effect on January 1, 2020. This new law extends the presumption of exposure to herbicides to Veterans who served in the offshore waters of the Republic of Vietnam. It means that Veterans who served within twelve nautical miles of the Republic of Vietnam are now entitled to service connected benefits based upon a condition that is presumptive to exposure to Agent Orange. This is also a win for the eligible survivors of these veterans.
Elder abuse is a silent epidemic in our culture. Approximately one in ten Americans aged 60 and older have experienced some form of elder abuse. One study estimates that only 1 in 14 cases of abuse are reported to authorities.
What is elder abuse? We posed this question to Carol Armstrong, Ph.D., a licensed professional counselor and life care coordinator for Donna J. Jackson and Associates, a Life Care Planning Law Firm in Oklahoma City.
Statistics indicate that about 43% of American households have at least one gun in their possession. According to estimates by the Alzheimer’s Association, 5.7 million Americans have Alzheimer’s disease today. By 2050, that number is project to rise to nearly 14 million.
If an elderly relative needs to qualify for Medicaid in order to pay for long-term care costs, including at an assisted living facility or nursing home, where do you start? We posed this question to Madeline Thorn, an attorney at Fendrick Morgan, a Life Care Planning Law Firm in New Jersey.
Pictured above: Laurie Adamshick's parents, Bob and Fusae Shield.
