The elderly are vulnerable to scams — both those perpetrated by strangers via phone and those perpetrated by family members. Someone past working age has limited ability to recover from these losses, and the losses could mean having to rely on Medicaid to pay for nursing home care. That’s a tough one as in some states, Medicaid will push the recipient into severe poverty in order to qualify for benefits. (In the US, benefits do vary — a lot — depending on the state in which you live.)
Dr. Leslie Kernisan, a San Francisco-based physician specializing in elder care, has been a favorite read of my for some time now. She’s just posted on financial exploitation. Rather than try to summarize her comments. please see the link below.