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Reply to "How to safe guard elder parent’s assets? "
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[quote=Anonymous]We put my parents money into trusts, and the trust financial officer pays all bills and gives my parents spending money monthly. If they want to make a big purchase they have to submit a request - this is because caregivers have stolen so much money. Stolen credit cards, took my parent to bank and made withdrawals then pocketed the money… financial officer and I review credit cards periodically for fraud. Believe me, it’s there several times a year. It’s coming from spam emails, so I put a filter on the emails. This sounds exhausting but we STILL had a former caregiver open a bank account with my dads info and a stolen check, cosigned him into a loan, not once but three times using her sons name, her husbands name…Caregivers obviously found enough personal info to pretend to be him. So, lock that up any identifying info- passwords, passport, drivers license, SS card, medical insurance, anything they could use to pose as your parent. Also look at recurring charges from hvac/plumbing/pest control companies who peddle “plans” charging $200 a month for ? One last thing is handymen repairmen. One showed up to fix the garage door (not broken) and wanted check for $250 in his name. I said “send invoice via mail”. Later looked him up and he was 3x felon and convicted for armed robbery and rape. No one ever called for that repair. Vultures. [/quote]
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