Saving Your Elderly Parents from Financial Fraud
Talk to them about their money (and those who could take it away).
Provided by Eddy H. Shum, CFP®, PFS, MBA, CLU, RFC®
Elders are financially defrauded daily in this country. Just a tiny percentage of these crimes are made public. In fact, the National Adult Protective Services Association (NAPSA) estimates that only 1 in 44 cases of elder financial abuse are reported. A recent NAPSA study found that 11% of seniors had been financially “abused, neglected or exploited” within the past year.1