Tips to Prevent Elder Financial Abuse

Cheerful Senior Man

Here are several important tips to help avoid becoming a victim of financial abuse:

  1. Involve people you trust in making important financial decisions.
  2. Use direct deposit for Social Security and other payments to prevent mail theft.
  3. Sign all of your own checks.
  4. Keep important papers and legal documents in a safe, secure place.
  5. Never give out your Social Security number over the telephone or on your computer.
  6. Keep your important legal documents (such as your power of attorney) updated.
  7. Do not share your important passwords with anyone.
  8. Hang up when a solicitor calls.
  9. Add your name and phone number to the National Do Not Call Registry by calling 1-888-382-1222.
  10. Be wary if you are asked by someone to change your will or add his or her name to your bank accounts or property title.
  11. Do not be afraid or embarrassed to discuss your concerns with a trusted individual. The situation could become worse if you do nothing.
  12. Do not trust any solicitation that sounds too good to be true — it probably is too good to be true!

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