Tag: financial fraud
A son uses his elderly mother’s ATM card at casinos and liquor stores or takes her to the bank to withdraw money from her account. A woman reports that her sister stole thousands of dollars’ worth of jewelry from their mother, who suffers from dementia. An elderly couple assigns power of attorney to their son,…
The brief’s key findings are: As life expectancy rises, more retirees will face late-life financial risks, including: high health costs, financial mistakes due to cognitive decline, and widowhood. To date, the research literature suggests that these risks severely affect only a minority of retirees, but the impact may become more widespread in the future. The reasons includ…
