Trying to prevent elder financial exploitation is difficult. There are many scammers with different methods of exploiting seniors.
I talk about 8 tips to help prevent elder financial exploitation.
Tip 1: Set Up a Trusted Contact at Every Financial Institution
Tip 2: Set Up “View-Only” Access for A Trusted Person
Tip 3: Create a Small Separate Bank Account
Tip 4: Create a Durable Financial Power of Attorney
Tip 5: Freeze Their Credit
Tip 6: Get a Credit Report Three Times a Year
Tip 7: Block Solicitations
Tip 8: Stay in Regular Communication with Seniors