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How To Protect Retirees From Fraud

Medical CaduceusAs I have previously discussed, with the number of elder abuse cases rising some individuals believe that primary care physicians and others in a position similar to that of a doctor should be the ones that should screen for signs of elder abuse. Now, it appears that Elder Investment Fraud and Financial Exploitation program has started to train primary care physicians to examine for impaired mental capacity. The program hopes that by training doctors to help look for what gives abusers the ability to take advantage of the elderly, they will curtail the prevalence of abuse. If the doctor notes that they are problems or signs of elder abuse, then the doctor can make a referral to the appropriate state agency to begin an investigation into the matter. The program is also expected to grow over the next few years, which means that more doctors will be trained. The following are the questions that the Elder Investment Fraud and Financial Exploitation program hopes to get doctors to ask in patient interviews:

  • “Who manages your money day to day? How is that going?”
  • “Do you run out of money at the end of the month?”
  • “Do you regret or worry about financial decisions you have recently made?”
  • “Have you given power of attorney to another person?”
  • “Do you have a will? Has anyone asked you to change it?”

See Anne Tergesen, Can Doctors Protect Retirees From Fraud?, Wall Street Journal, Sept. 5, 2012.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.