As people age, the risk of financial abuse grows rapidly. If you want to help protect your parents and their financial assets, there are several things you can do.
Here are a few suggestions:
Sign them up for a credit reporting service to keep an eye out for any suspicious activity
Help them set up automatic payments where possible
Work with an elder care lawyer to make sure they have the correct asset protection and estate planning documents in place
Make sure you know which financial institutions their accounts are with and who all has access to those accounts