Ask Curtis: Vulnerable Senior Finances

Dear Curtis:
I am concerned about my father. He currently lives alone and has no desire to move in with me, nor does he want to go into any senior living community. Lately, whenever solicitors come to his house or call him, he gives them money or signs up for whatever they are selling. Since he handles all his finances, we really can not do anything to stop him; however, I am afraid that if this continues he will run out of money or worse, someone will take advantage of his generous nature.

EJ in Lawrenceville

Dear EJ:
The time may have come when you may have to begin making some of the financial decisions for your father. It becomes all too easy for crooks to pick the pockets of people who they think are not thinking clearly any more. The first thing you need to find out is if your father has a power of attorney for finances. If not, you may need to sit down with him to discuss this option and explain the dangers of his actions if he continues on the path he is on. If he is resistant to a financial power of attorney and you truly feel he is no longer capable of making his own decisions, you may have to look into possible guardianship. You will want to consult with an attorney on both these issues as they will know what steps to follow to secure the appropriate documentation.

If you have questions or suggestions for Curtis, email him at: curtis@ashtonseniorliving.com