The world of professionals who work with seniors is abuzz over the film I Care a Lot. The film tells the story of a private guardian who preys on older adults. She moves them to long-term care facilities when they do not need such care and exploits them financially.» Read More

We have long known that seniors are more vulnerable to financial abuse. The COVID pandemic has only amplified this problem due to the increased social isolation and stress it has wrought. Perpetrators look for opportunities when their victims are most vulnerable.» Read More

Recently, the Financial Industry Regulatory Authority (FINRA) issued a new regulation to protect investors from unscrupulous financial advisors and brokers. Rule 3241 limits the ability of a broker-dealer to be named as a beneficiary, executor, trustee, or power of attorney for one of their customers.» Read More

Your elderly client calls you and asks you to wire $20,000 to a non-family member. When you ask what the payment is for, he gives vague answers or gets defensive. Or you are preparing a long-time client’s taxes and it appears that she is taking much larger than normal distributions.» Read More

Recently, the Consumer Financial Protection Bureau was the latest government agency to issue an advisory to financial institutions regarding the financial exploitation of older Americans. The update urges financial institutions to make a report whenever they suspect that an older adult is the target or victim of financial exploitation.» Read More