Financial Abuse of Older People – Prevention
Content Summary
Know your clients
Perpetrators of financial abuse of older people are most often trusted family members or friends, most commonly a son of the older person. It is important for practitioners to know who their client's family is and who is assisting with financial matters.
Plan ahead
We created this Planning ahead checklist to help our members in counsel an older client or preparing their affairs for life in their retirement. This checklist aims to help you make the client aware of the existence, nature and causes of financial abuse and their options for making preparations that will protect them against it.
Use this checklist when:
- preparing for a meeting with an older client who has not formalised their plans
- drawing up an action list following an interview with the older client
- as a tool for making your employees aware of the issue and for developing protocols within your firm for addressing it.
In this section
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Public practice people management
Resources to help you recruit and retain talented employees and contractors for your firm
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Cyber liability insurance
Client data security is a risk for your business, so consider a cyber liability insurance extension
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From COVID to Advisory
Go beyond compliance support and help clients solve a variety of problems in their businesses
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Supporting your people
Employer and staff manuals, and mental health support information for you and your staff
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Wills and estates
Things to consider when you are invited to become executor of a deceased client’s estate