Financial Elder Abuse – Gage-Michaels Law Firm

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Our legal blog covers an array of topics specifically geared toward seniors. Browse our blog posts to learn more about crisis Medicaid planning, silver divorce, elder abuse issues, family mediation, adult guardianships and more.

Recognizing Signs of Elder Abuse

Elder abuse is a growing problem in the United States and around the world. It is defined as an intentional act or failure to act that causes or creates the risk of harm to an older adult. Elder abuse takes many forms and is expected to increase as the global population of persons over 60 years of age will more than double by 2050. Shining a light on the issue and teaching others how to recognize the signs of abuse is one way we can protect this vulnerable population. You can learn more by viewing the photos below!

The Most Frequently Reported Type of Elder Abuse – And What You Can Do To Prevent It

The International Network for the Prevention of Elder Abuse and the World Health Organization launched World Elder Abuse Awareness Day in June of 2006 to encourage individuals, organizations, and communities to raise awareness about neglect, exploitation, and abuse of the senior population. In honor of WEAAD, we are working to educate the community on different types of elder abuse, prevention, recognizing signs that abuse is taking place and how to report it. Financial abuse is the most frequently reported type of elder abuse and is expected to increase as the senior population grows. The U.S. Department of Justice defines financial

Should You Add Your Child as a Joint-Owner of Your Bank Account?

Adding your child as a joint-owner to your bank account may seem like a good idea as you start to require assistance managing your finances, but it may come with some unintended consequences. Most banks set up joint accounts with “right of survivorship” meaning that when a co-owner of the account dies, the other will automatically become the sole owner of the account. This could potentially cause a number of issues regarding the estate of the deceased. If you had planned to distribute everything to your kids equally, it may come as a surprise that the right of survivorship can

Impostor Scams Cost Americans Nearly $1.2 Billion in 2020

The Federal Trade Commission reported that Impostor Scams were responsible for nearly $1.2 billion in consumer losses last year. As if 2020 wasn’t bad enough! Impostor scams come in many varieties, and fraudsters will pose as any number of persons, generally requesting personal information or some type of financial payment. These impostors generally urge you to act quickly, or else!!! Taking the time to stop, check out the situation and consult someone you trust can save you from financial exploitation or identity theft. When in doubt, DO NOT: Give personal information to people you do not know Give computer