“Aging Parents With Dementia? Beware Of Thieving Financial Advisors,” by Carolyn Rosenblatt, Forbes

“The takeaway is this–if you have an aging loved one who has short term memory loss and invested assets in one or more accounts, it is time to raise the question of whether you can respectfully get in position to oversee the accounts. Please persist with every possible effort. Your protection could prevent even one unscrupulous financial professional from taking advantage because no one is watching.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Adult children, close relatives and friends are at least as likely as professional financial advisers to abuse ailing elders financially. Advisors should vigilantly protect clients from “thieving” family members, many of whom have an eye on benefiting from Medicaid “spend down.”

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