Thirteen years ago, June 15 was designated as World Elder Abuse Awareness Day by the United Nations. This far-reaching issue affects many individuals and families, from aging people in Delaware to seniors across the world. There have been many efforts to change and enforce elder law in hopes of supporting seniors who are being victimized.
Planning for retirement is a challenge for men and women alike. However, statistics show that when it comes to finances and elder law issues, women can sometimes have a harder time making the transition. Here are a few things women in Delaware may face when moving into this new stage in life.
Elderly people are often the target of financial scams. Elder law issues involving fraud from complete strangers and even loved ones are plentiful across Delaware. Aging people should be on the lookout for some of the most common scams that seek to take advantage of their pensions, health situations and other elder-specific vulnerabilities.
For many retirees, leaving work means depleting savings. But for Delaware retirees with smart investments and a keen understanding of elder law to avoid any scams or meddling family members, net worth can actually increase during the course of retirement. In fact, a recent study shows that one-third of seniors increase their assets over the first 18 years of retirement.
As people age, they may become increasingly vulnerable to financial abuse. For example, relatives can misuse assets after being granted access to accounts through guardianship. Elderly people and their loved ones should have an understanding of these potential crimes and how they are addressed by Delaware elder law in order to protect themselves.
Families, aging individuals and lawyers often discuss issues related to the well-being and safe treatment of elders. But what responsibility does the investment industry have for supporting elder law issues? Investment companies and advisors in Delaware and across North America may have a role to play in supporting and protecting their clients from fraud or other abuses.
One of the most contentious issues in families is where aging family members should live. Conversations, external support and an understanding of elder law can all help in making these arrangements for elders and their families. Delaware seniors can also benefit from a variety of technological advancements to help them stay safe and cared for, especially if they wish to continue living alone at home.
After decades of working, many Delaware couples look forward to retirement. However, at the same time, they may begin to wonder whether they have enough financial security should one of them pass away. Fortunately, making use of elder law could provide some peace of mind in their retirement years.
Like many other Delaware residents, you more than likely do not want to think about a time in your life when you will not be able to make decisions for yourself. However, as you age, you may wonder if such a time could come. This eventuality makes powers of attorney so important in elder law.
When creating an estate plan, there are many factors to consider beyond how to divide one's assets after death. In fact, with proper elder law guidance, an estate plan can be a valuable resource in many stages of life. One example is by establishing a power of attorney against the possibility that the testator should become incapacitated by age or illness. However, few people in Delaware take advantage of this tool, which may require loved ones to seek legal guardianship.