Arizona is a top destination for seniors and retirees who want to enjoy the many beautiful landscapes and interesting activities it provides. Unfortunately, that fact also attracts those who prey on the senior population–especially those who are doing their best to cope with the challenges of aging.
There are many horror stories in our community about seniors who are victimized by well meaning neighbors, family members, and para-professionals. Elder abuse is not just limited to physical or emotional abuse. Statistics show that 28% of financial elder abuse is from family and 17% is from caregivers.
In this article are tips you can use to help protect yourself from those threats and some of the other challenges of aging.
First, have a plan while you are capable of making decisions. Have a relationship with a local professional (lawyer, social worker, fiduciary) who can advocate for you when you are the most vulnerable. Make sure you select someone who has experience working in the system and knows how to advocate. You don’t want a beloved landscaper making decisions for you when they don’t understand the difference between a DNR and a Living Will.
A senior lady with a long history in Cottonwood was befriended by a local bank teller. Her dementia was getting worse and she didn’t have family to help her. The bank teller invited the lady to move in with her own family and then promptly retired. The bank teller used the lady’s substantial life’s savings to pay off her own mortgage, remodel her family’s home, and pay her own bills before Adult Protective Services were brought in to investigate. What might appear to some as kindness is truly malevolence — the senior lady’s resources were being depleted without any thought to her future medical or financial needs.
Second, choose a professional who can assist you within their scope of practice. You can’t expect a doctor to take care of your taxes or an accountant to offer advice on your bladder problems. Too often those who are selected don’t have the necessary background or experience. In addition, there should be no financial gains to the chosen professional beyond the bill for their regular services.
An independent gentleman in his eighties, who retired to Sedona, was befriended by a local insurance agent. He contracted with her for his insurance needs. The insurance agent also offered to help him with his finances, to be his Power of Attorney, and to handle his investments, which he welcomed even though it was beyond the scope of her professional skills. When the gentleman started to experience health problems, the insurance agent started to sell off his portfolio without his permission. He contacted a new attorney to make changes to his will and durable power of attorney. It was at that point he learned that the insurance agent was positioned to inherit the gentleman’s entire estate in lieu of his favorite charities.
Third, consider the age and nature of your support network (Power of Attorney, Trustee, etc). They can’t advocate for you or pay your bills if they become incapacitated when you need them most. Those who are named beneficiaries of your estate may not be the best advocates for your care. Often times they mistake your life savings for their inheritance when considering what type and quality of care to provide you. Don’t let your adult child question whether you still need a refridgerator when you are 100 years old and yours stops working.
A socially active lady in Sedona had a stroke and now resides in a local nursing home. Her trusted brother is her Power of Attorney and the beneficiary of her estate. He lives on the other side of the country and has visited her once since her stroke. He is unwilling to set up the support services she needs to return to her beloved home even though she has the financial resources to do so. Her friends have tried to advocate for her but have been dismissed by the brother. The nursing home doesn’t have any motivation to discharge her as they benefit from having a private pay client.
Fourth, don’t hire caregivers who work privately, don’t have supervision or insurance. It is unethical for an employee (caregiver, insurance agent, home health nurse, etc.) to become a recipient of your estate. They are paid to do their job. They may become your closest companion when you are at your most vulnerable, but that doesn’t make them eligible for additional financial gains. Most caregivers, who work for ethical agencies, would be fired if they benefited financially from their relationship with their client beyond their contracted salary.
Long time residents of the Chapel area hired a private caregiver. The husband needed help caring for his ailing wife. After his wife’s death, the caregiver continued working with the husband as he started to have health problems of his own. The caregiver isolated her client from his extended family, wouldn’t let anyone have access to him without being present, and persuaded him to leave a substantial percentage of his estate to her.
Aging makes you vulnerable. You begin to need help with daily activities, money management, and the kinds of things you never thought twice about five or six years ago. It is easy to trust someone who is friendly and who wants to help. You are grateful for their kindness, their offers of assistance and you don’t think about checking their background or requesting professional references. You don’t question their motives.
Aging is difficult enough without the additional challenges of those who prey on people with those challenges. There are resources available to guide you on your journey. The best time to plan is well before you are in need.