Elder Financial Abuse
Explore how estate planning can protect against elder financial abuse, providing peace of mind and economic security for seniors.
How can estate planning protect against elder financial abuse?
Estate planning can be a valuable tool in safeguarding against elder financial abuse by clearly defining financial management roles and responsibilities. By establishing a durable power of attorney or a trust, individuals can designate trusted family members or professionals to manage their finances, significantly reducing the risk of exploitation. In addition to formalizing financial oversight, estate planning documents often contain checks and balances that further protect seniors. Integrating these protective measures into an estate plan helps prevent unauthorized access to finances and ensures that the senior's assets are managed according to their wishes.
