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Spotting Elder Financial Abuse | Michael Hackard in Chicago Tribune

Spotting Elder Financial Abuse | Michael Hackard in Chicago TribuneRecently I spoke with reporter Anya Kamenetz of the Chicago Tribune. She had contacted me for my thoughts on the rising challenge of elder financial abuse in America, and how we can spot the warning signs, something I've written about in-depth in my book The Wolf at the Door: Undue Influence and Elder Financial Abuse. Anya begins her article with a story from a reader. It describes a textbook potential case of undue influence: an elderly divorced man has a new younger girlfriend with designs on his estate assets originally intended for his children. Unfortunately these stories are increasingly common, which means family members need to be alert for signs of exploitation.

We discussed the red flags of elder financial abuse, from irregularities in spending and financial accounts to sudden changes in a will or trust. Just as importantly, I shared my thoughts with Anya on how to protect seniors through steps like revocable trusts, transparency, and good communication within a family. Thank you to Anya for an excellent article that highlights solutions to preventing elder financial abuse and protecting vulnerable loved ones. The more we spotlight this issue, the more effective we'll be in stopping predators.

Spotting Elder Financial Abuse | Michael Hackard in Chicago Tribune from Hackard Law on Vimeo.

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