The Office of Older Americans
The Office of Older Americans was created as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It was created to safeguard the rights of those over 62 and ensure they are properly educated about their financial options. Assistance in these and similar matters is all the more important now in a world with stagnant retirement accounts and rising healthcare costs.
MetLife found that older Americans lost $3 billion from exploitation in 2010 alone. The rising senior population only means that the total cost of senior financial abuse will likely increase in the future. Tackling financial exploitation often requires having an extra pair of eyes watching a senior's financial situation–such as an estate planning lawyer. This is important because many financial abusers are friends or family members of the senior.Tags: estate planning lawyer, financial exploitation, Fraud, seniors