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Every year, the elderly face tougher financial challenges and more threats to their independence that ever before. Seniors are now living in a staggeringly tough economy, where limited money used to pay for basic needs such as food, medical care and housing doesn't go as far as it once did.
They're responsible for making tough decisions about that money to avoid foreclosure, provide for power of attorney and create a final will and testament. Such important decisions can leave seniors confused, overwhelmed and vulnerable to financial abuse. The U.S. Administration on Aging National Center on Elder Abuse reports that elderly in the United States lose an estimated $2.6 billion annually due to financial abuse and exploitation. Abuse occurs in every demographic and to an estimated one in 10 seniors, yet few of those cases are ever reported.
