It’s always been important to protect family money, but with the difficult economy, it’s now more important than ever. One way to help mom and dad maintain money for their retirement, is to avoid losing it to fraud or financial abuse. Learn to recognize signs of potential abuse. Some of the signs are:
- Changes in banking habits
- Changes in a Will or other documents
- Unexplained transfers of assets
- Forged signatures on checks or other documents
- Excessive use of ATM or credit cards
Also, review or have an attorney review any document a parent is asked to sign. I once had an elderly client selling a piece of land, and the buyer presented a contract with language that would actually have had my client paying the buyer instead of the buyer paying the seller!
For more information about protecting yourself or your parents, we are presenting a free workshop on the subject on April 23, 2013, at 12:45 at the Northshore Senior Center.
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