A man I worked with for two years and, a business owner as a therapeutic care manager for over 10 years, was arrested for financial elder abuse!
I struggled whether to write this blog or not.
For the record, I learned a lot working with him, I liked him. I even recommended him to work with a personal friend whose family was in crisis, and he was a big help to them.
When I heard the news a few weeks ago, I was in shock and flooded with questions and concerns and mixed emotions. Of course, I hope the accusation is not true.
But, it brings up an important point. Who is beyond reproach? And, who is helping you manage your finances?
Whom are you trusting?
I have advocated for years that people hire a licensed professional fiduciary when they need help with financial matters.
I know that title – licensed professional fiduciary — sounds daunting.
In a nutshell, these professionals take courses and pass an exam in order to get licensed by the state as a Professional Fiduciary. Being a licensed Professional Fiduciary allows them to provide day-to-day money management help (instead of your spouse or kid) and be accountable (to the court if person conserved).
These professionals are trained and have experience recognizing the fraudulent practices of those who would try to take your money.
Besides helping to prevent elder abuse, a Professional Fiduciary might just make life easier for the family. From the Professional Fiduciary Association website
“Even the most capable adult child is frequently fully committed to work and home responsibilities and may not live conveniently nearby. And, of course, many family members would not be a good choice for fiduciary work due to the lack of appropriate skills or the potential for conflict with siblings or other relatives.”
Hiring a professional fiduciary can mean brilliant help if you are getting confused or overwhelmed with bill paying, or would just rather be doing something else with your time.
I’ve done shows with people in this field.
Click to hear one show, to begin educating and protecting yourself today: click here.