First Steps to Take When Concerned About Your Parents’ Finances

concerned about your parents’ finances

Has your senior’s financial behavior changed?

If you’ve noticed worrying changes in how your older adult deals with financial matters, it’s important to act now to protect them from fraud, scams, and financial exploitation.

 

Do you see these warning signs?

Here are 5 warning signs that could mean your senior is at higher risk of being taken advantage of by a scam.

 

First steps to take for better outcomes

It’s not easy to take action in these situations. Your older adult has always been in control of their finances and this will be a big adjustment for both of you.

Making these changes is tricky. Our friends at True Link put together this list of first steps you can take. These six steps help you protect your senior’s money and overall safety without causing embarrassment or forcing them to give up their independence.

 

Bottom line

Using a tactful approach to sensitive conversations helps you understand the severity of their situation and can help maintain independence for longer. These practical tips help your older adult age with dignity while protecting their finances and well-being.

 

Next Step  6 steps to take if you’re worried about your senior’s finances on the True Link blog

 

By DailyCaring Editorial Staff
Image: U.S. News

 

True Link is a financial services company committed to protecting vulnerable individuals, including seniors and adults with special needs, from becoming victims of fraud, scams, and exploitation. The company provides tools that can be self-directed or managed by family members, caregivers, or guardians. With True Link, you can detect suspicious account activity and block unwanted transactions, all while preserving an individual’s independence and protecting their assets.

 

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How to Talk with Parents About Aging: Conversation Starters
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How the Village Movement Is Helping Seniors Age in Place

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