Wednesday, September 23, 2009

Protecting Elders From Financial Abuse

With experts calling elder financial abuse (www.firstbanks.com) the ''crime of the 21st century,'' seniors need to protect themselves from financial exploitation and abuse. To help seniors protect themselves, First Bank offers these tips:

- Don't be threatened or intimidated. Never let yourself get rushed into a deal

- Plan ahead to protect your assets and to ensure that your wishes are followed

- Check references and credentials of anyone who wants to work in your home

- Do not allow people working for you to have access to or information about your finances

- Never give personal information to anyone who phones you

- Consult with a financial advisor or attorney before signing any document you do not understand

- Never pay a fee or taxes to collect "winnings"

- Feel free to say "no." After all, it is your money