GCM and Financial Planning

Avoiding Financial Abuse with Care Management in Rancho Santa Fe

Care Management in Rancho Santa Fe May Protect Your Senior from Abuse

When you think of “financial abuse” as it relates to your aging loved one, you probably first think of con artists and fast-talking businessmen on the phone. But a significant percentage of elder financial abuse occurs within the family, making the situation even stickier than when a stranger is involved. Care management in Rancho Santa Fe might be the objective, financially savvy voice of reason to keep this disaster from striking your family.

Irresponsible Choices

Financial abuse is not limited to using an elderly family member’s credit card or writing unauthorized checks. Many times, family members ask a senior to cosign or guarantee a loan, planning to pay the loan back with no damage to the senior’s savings. But if the borrower is not able to pay back the loan after all, the cosigner becomes responsible for the full repayment. Asking a senior to guarantee a risky loan is an irresponsible choice and borders on abuse.

A Financial Plan

More often than not, families realize only after it is too late that a thought-out, agreed-upon set of policies concerning seniors’ finances could have protected them from financial disaster. It is important for family members to trust each other, but keeping everyone honest and respectful of their loved ones’ hard-earned savings is the only right thing to do. Decisions about seniors’ money should be careful, responsible, and most of all good for the seniors themselves.

Where Care Managers in San Diego County Come In

Deciding on financial policies as a family can be just as stressful as dealing with a serious problem. An objective voice with plenty of experience in the area of senior finances can make all the difference, and that is where care managers in San Diego County come in. They can warn you about potential problems, educate family members about the needs of their aging loved ones, and provide guidance throughout the planning process. Don’t leave your parents’ money vulnerable—make a plan and stick with it!

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Tim Colling

Tim Colling is the founder and President of A Servant's Heart In-Home Care, which provided in-home caregiving services in San Diego County, and also of A Servant's Heart Geriatric Care Management, which provided
professional geriatric care management services and long term care placement services in San Diego County. Tim has more than 30 years of experience in management in a variety of industries. He held a Certified Care Manager credential from the National Academy of Certified Care Managers. Tim is also a Certified Public Accountant (retired), and received his Bachelor’s Degree in Accounting from California State University at San Diego. In addition to writing blog posts here for the Servant’s Heart blog, Tim also is a regular contributor to HealthLine.com and to FamilyAffaires.com as well as blogs of other eldercare services provider companies. Finally, Tim is also the president of A Servant's Heart Web Design and Marketing, which provides home care marketing as well as website design and online marketing for those who serve the elderly and their families.

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