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Elder Law Office of David Wingate, LLC

Posts Tagged ‘financial advisers’

Here is some financial advice to protect your nest egg after your children are grown and gone.

These tips may come in handy, given that far too few parents are saving the money they used to spend on their offspring in their retirement accounts. A recent study by Boston College's Center for Retirement Research found per-person spending on non-durable consumables — vacations, apparel, restaurants and food purchases, etc. — actually rises sharply after the kids leave home. In lieu of taking the money you use to spend on your kids and using it toward your retirement, most people are not changing their household spending and, in fact, are increasing their per-capita spending. In 2001, households with children…

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Preventing financial abuse of your aging parent

Most people regard elder abuse as physical harm i.e abused in nursing home etc. However, financial elder abuse is the exploitation of seniors to gain access to their property, investments, cash, or real estate. Elder abuse includes identity theft, telemarketing cons, stealing Social Security checks from outdoor mailboxes, and fraud by unscrupulous contractors and financial advisers. However, it is not only the stranger but family members also are involved. Here are some signs of exploitation: Your parent has a new "best friend," becomes socially isolated, hesitant to contact unless the “best friend” is present.   Unpaid bills – although someone…

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