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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.
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!