This study
from the MetLife Mature Market
Institute (MMI), the
National Committee for the Prevention of Elder Abuse, and the
Center for Gerontology at
Virginia Polytechnic Institute and State University provides a
comprehensive understanding about the extent and implications of
elder financial abuse in all its various manifestations—personal,
institutional, and societal. Through an extensive review of
available information on elder abuse, this research enhances the
understanding of the complexities surrounding elder financial abuse,
the current magnitude of the issue, reasons why this issue is likely
to grow, and some recommendations of ways to potentially mitigate
this complex and devastating crime.
While difficult to present any comprehensive or consensus definition
of elder financial abuse, this study considers elder financial abuse
as “the unauthorized use or illegal taking of funds or property of
people aged 60 and older.” It is perpetrated by those who gain, and
then violate, the trust of an older person. They can be as close as
a family member, neighbor, or friend, or as distant as an invisible
voice on the telephone or an e-mail from the other side of the
globe.
Key Findings:
-
While
underreported, the annual financial loss by victims of elder
financial abuse is estimated to be at least $2.6 billion dollars
-
Elders’
vulnerabilities and larger net worth make them a prime target
for financial abuse
-
The
increased aging of the population, social changes, and
technology advances will lead to a dramatic increase in the
opportunity for a growing level of elder financial abuse
- The
perpetrators of elder financial abuse are typically not
strangers and most are people who have gained the trust of the
older individual, including business and service professionals
and family members
-
The
victims of elder financial abuse come from all walks of life,
and this type of abuse affects elders regardless of gender,
race, or ethnicity
Documents
from this study:
Elders and the
Courts: The Results of Needs Assessment
In 2008,
the National Center for State Courts (NCSC), with funding from
the Retirement Research Foundation of Chicago, launched the
Center for Elders and the Courts (CEC). This report is the
published results of a needs assessment NCSC carried out in
February 2009 for the purpose of identifying resources and tools
that should be addressed through the CEC’s website (www.eldersandcourts.org)
and training programs.
2008 State
Adult Guardianship Legislation: Directions of Reform
The annual
state guardianship legislative update is now posted on the Web
site of the ABA Commission on Law and Aging. See State Adult
Guardianship Legislation: Directions of Reform – 2008 at
http://www.abanet.org/aging/legislativeupdates/home.shtml
AARP
Radio Report on Parent Guardianship
December
23, 2008 - As the population continues to age, more baby boomers
are faced with caring for their disabled parents. For many,
assuming guardianship can often be the hardest and most trying
step in getting their parents the care they need. And differing
state laws are part of the problem. The Uniform Law Commission
(a group that seeks to reconcile inconsistent state laws) is
proposing a solution. Click here to learn more, from a panel of
experts:
http://radioprimetime.org/index.htm
Guardianship of the Elderly
This article was recently printed in Court Manager, the magazine
of the National Center for State Courts, and is linked here with
their permission.
In December 2008 AARP’s Public
Policy Institute released Power of Attorney Abuse: What States
Can Do About It, A Comparison of Current State Laws with the New
Uniform Power of Attorney Act by Lori A. Stiegel and Ellen
VanCleave Klem of the ABA Commission on Law and Aging. The
report provides background on POA abuse, analysis of the UPOAA’s
consumer protection provisions, detailed charts on how current
laws stack up against the UPOAA, and tips for enactment. The new
uniform act (UPOAA) enhances the use of this low-cost, flexible
planning tool – and at the same time it helps prevent, detect
and redress abuse of the POA. The report finds a large majority
of state laws lack protections for individuals creating
financial powers of attorney (POA). In 2009, about 12 states are
expected to consider adoption. Thus far, New Mexico and Idaho
have adopted the Act. It is hoped the report will aid in
enactment efforts. For more information contact NGA member Naomi
Karp (nkarp@aarp.org).
Executive Summary /
Complete Report
Center for Guardianship
Certification to Unveil Designation Name Change
Designation Name Change to
Occur in October 2008
HARRISBURG, PA- In October 2008, the Center for Guardianship
Certification (CGC) will be updating the name of the current
certification designations, Registered Guardian and Master
Guardian, to National Certified Guardian (NCG) and National
Master Guardian (NMG) respectively.
Release
Enduring Powers of Attorney:
Areas for Reform
The 2008 final report from
the Western Canada Law Reform Agencies (WCLRA), a consortium of
four western Canadian law reform agencies – the Alberta Law
Reform Institute, the British Columbia Law Institute, the
Manitoba Law Reform Commission and the Law Reform Commission of
Saskatchewan.
Executive Summary
|
Complete Report
NGA Featured in AARP April 21, 2008 Report - Who Guards the
Guardians
AARP Report Shows How States
Can Help Prevent Abuse Of Older Americans, Identifies Better
Ways For Courts To Oversee Guardianships
Guardianship
Monitoring: A National Survey of Court
Practices
Naomi Karp
AARP Public Policy Institute and Erica Wood ABA Commission on
Law and Aging
Summary
USA Today Reports:
Poor
elderly wait for care as Fla. system backs up
Public Guardianship After 25
Years: In the Best Interest of Incapacitated People? An
Executive Summary of the National Study of Public Guardianship
Phase II Report
Authored by Pamela Teaster
Ph. D; Erica Wood, JD; Winsor Schmidt, JD, LL.M.; and Susan
Lawrence, Ph.D.
Released in January of 2008 by the University of Kentucky and
the ABA Commission on Law and Aging. For more information, or to
order print copies of the executive summary for $5 and the Full
Report for $30, contact the ABA Commission at
abaaging@abanet.org.
State Adult guardianship Legislation:
Directions of Reform - 2007
From the Commission on Law
and Aging American Bar Association
Guardianship for the
Elderly: Protecting the Rights and Welfare of Seniors With Reduced
Capacity
A report issued by Senator
Gordon H. Smith, Ranking Member, United States Senate Special
Committee on Aging Senator Herb Kohl, Chairman, United States
Senate Special Committee on Aging
Uniform Adult Guardianship and Protective
Proceedings Jurisdiction Act
