Financial Planning Cautions for Elderly in Overland Park

October 28, 2019

Dementia and memory loss caused by Alzheimer’s or aging can leave seniors vulnerable to health and safety issues in the home. Dementia and Alzheimer’s can also serve as a beacon for unscrupulous individuals who want to take advantage of someone who has trouble remembering day-to-day details, like personal finances, or estate plans.

In Overland Park, Leawood, Kansas City, and Mission Hills, stories abound of charming relatives– or even predatory organizations– that have taken advantage of a person with memory loss. These days, memory care can mean protecting a loved one from harmful influences in the marketplace.

At Thoughtful Care , we are interested in the well-being of our community. Here are some tips for protecting people who have memory loss from financial scams:

  • Know your loved one’s abilities and monitor them closely . Dementia is a progressive disease. When caregivers notice an inability to recall important events or details (mortgages, account status), it might be time to talk with your bank about setting up alerts. That way, any unforeseen account activity can be tracked or prevented.
  • Interview your financial advisors to see if they have experience with dementia. Being transparent about your loved one’s ability is crucial. A good financial advisor will help put protections in place.
  • Be there when sales people, people seeking donations, or seldom-seen relatives make a visit. A caregiver’s presence sets the tone and lets predatory individuals know that the person with memory loss is not alone.

If a family member cannot be there full time to help, call us at Thoughtful Care to find a caregiver who can fill in. Our caregivers are vetted and checked, our company bonded and insured, so that you can be comfortable knowing that your loved one is safe in her home, or out in the world.

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