A helpful AARP study entitled "Outsmarting the Scam Artists" suggests that different demographic groups are more likely to fall victim to certain types of scams. For example, fraudulent claims about unique investment opportunities most often affect college-educated white men in their sixties. These scams often claim the chance to invest in oil drilling or gold mining. Lottery scams, where foreign lottery winnings are claimed with a need to send a small fee to collect, are most likely to affect women in their seventies who live alone and often have less education and financial literacy.
Some mistakenly dismiss elder law as something with which they need not concern themselves until they personally need help getting by each day. However, at the Elder Law office we work with many local residents on these issues decades before they need care themselves. That is because many adult children are forced to deal with these concerns on behalf of their parents–many of whom have serious health concerns that arise quite quickly. With demographic changes leading to a boom in the elderly population, the need to care for aging parents is catching more and more adult children by surprise. According…
A federally funded National Institute of Justice study found that about ten percent of Americans over sixty had been targeted for some form of financial exploitation. Also, a Met-Life study last year estimated the annual loss from this financial abuse was nearly $3 billion. Scammers target everyone, but seniors often make the ideal target because some have disabilities, may be less knowledgeable about the Internet or tech issues, and often live more isolated lives. To top it off, after a lifetime of building and working, many seniors can be counted on to have some assets and savings used to fund…
If you are a Caucasian woman, aged 35 or older, possibly married, very likely working full or part-time—then there is a good chance that you are also (or will soon be) serving as a caregiver for an aging parent or relative. At least this is what a recent report released by the National Alliance for Caregiving, AARP, and MetLife indicates. The entire report, entitled “Caregiving in the U.S., A Focused Look at Those Caring for Someone Aged 50 or Older” is 73 pages long, but you needn’t read the entire thing to get an insider’s peek at the state of…
The COLA, or Cost Of Living Adjustment, has been a nearly annual increase in Social Security payments. Why? To keep benefits consistent with inflation. Otherwise, seniors would be at the mercy of rising prices on fixed incomes. Lean times in the economy, however, have meant cutting back COLA for the past two years, leaving many seniors with no choice but to further tighten their belts. The 3.6% increase will be warmly received by many. For example, beneficiaries receiving $1,186 a month, the average for retired workers, will see monthly benefit increase of $43. To be sure, it’s not a dramatic…
In the U.S. there are approximately 62 million unpaid Family Caregivers. In a recent AARP report, if it wasn’t for these unpaid family caregivers, this country would be in even more dire straits. These family caregivers increasingly, middle-aged offspring taking care of their elderly parents – provided $450 billion worth of unpaid home care in 2009, states AARP. That’s more than the total Medicaid spending that year or more than Wal-Mart Inc.’s total sales in 2009. It’s also 20 percent higher than unpaid home care totals for two years earlier. “If the family caregiver were no longer available, we’d see…
Ride along: Take a rides with your parents and observe their physical ability in controlling the vehicle, staying within the lane, how turns are handled, the driving speed, ability to scan from left to right, any visual susceptibility to glare, and for any possible confusion in traffic. Check the vehicle: Periodically and without fanfare, check the outside of the car for any possible dents or scrapes. Accompany your parent at least once to every medical specialist and service or treatment center and, and have him or her sign a release of confidentiality (HIPPA) form. This will ensure that you are…
Over the next quarter century, the number of older Americans is projected to grow from 12 percent to 20 percent of the total population, and various estimates indicate that lesbian, gay, bisexual, and transgendered individuals will comprise 7–10 percent of that older population. By the year 2030, the LGBT community age 65 and above is expected to almost double, from 2.5 million to as many as 4.7 million. In honor of Gay and Lesbian Pride Month, AARP has launched a new portal within their website dedicated to LGBT elders. The portal is designed to accommodate and offer advice on the…
Faced with significantly falling tax revenues, states are also contending with increasing service demands, forcing many states to impose new limits on non-Medicaid long-term services and supports
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