How to Prevent Elder Abuse in Woodland Hills? Mina Sirkin, Elder Law Attorney Protects the Future of Your Estate & Finances in Woodland Hills
Protecting your financial well-being starts with making a financial management plan. The basics of the decision to protect the assets revolve around who will manage your finances in the future, and how will the transition to financial management take place. Knowing that at some point, children or caregivers may have access to your assets, should encourage you to decide whether family or professionals should be in charge of management of your assets.
CAREGIVERS COME AND GO: Caregivers come and go in an elderly person's life. The nature of the caregiving business is a changing or transient one. Often caregivers become involved or get close to an elderly person with the knowledge that there is a rift between the elder and a child. This poses a danger to the elder as the caregiver may through the use of affection, try to alienate the elder from family members. Caregivers who want to abuse an elderly create family rifts by creating negative and often false facts about the family.
DETERMINE TIMING OF CHANGE: Determining the time when management of assets should be shifted to a trusted family member or a professional fiduciary is the single most important decision you will make in saving your assets from elder abuse. In your estate planning documents, you choose the standard by which the shift in the management of your your assets will happen. For example, you may choose to have the shift, when one doctor deems you are incapacitate, or two doctors deep you incapacitated. The standard is up to you, so you can make it very flexible.
DON'T KEEP YOUR FINANCIAL DOCUMENTS OR ESTATE PLANNING DOCUMENTS IN YOUR HOME: Caregivers or others who want to pry into your business often want to see your estate planning documents. The may misuse these documents to try to figure out how to change them. Keep your documents in a safe, and only give access to to the box, to your trustee, executor, a child, or a professional fiduciary.
DON'T MARRY: When a caregiver attempts to abuse an elderly, he or she may attempt to marry the elder. Marriage gives the caregiver priority in a conservatorship proceeding under certain circumstances. You should be aware and worry about getting married late in life, and protect yourself from elder financial abuse.
Mina Sirkin is a probate and elder law attorney in Woodland Hills and Los Angeles. As a Los Angeles Estate Planning lawyer, Mina Sirkin who advises the elderly, frequently writes about how to protect your estate from financial abuse, and lectures on matters involving estate planning for seniors in Woodland Hills. Contact Mina Sirkin at 818-340-4479 or by email: Info@SirkinLaw.com.
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