How can I protect my elderly parents from financial exploitation?

It is important to be aware of the potential risks of financial exploitation when it comes to elderly parents. In Washington, there are a number of ways that you can help protect your elderly parents from financial exploitation. First, it is important to remain involved in their financial decisions. Make sure that you are aware of the bills that need to be paid and regularly monitor their accounts. You should also ensure that you discuss any major financial decisions with your parents and make sure to verify any transactions before they take place. Second, be aware of potential scams that target elderly individuals. Make sure to educate your parents about internet safety, fraud, and identity theft. Additionally, you should be aware of any suspicious phone calls or emails that they might receive and make sure they are aware of the potential risks. Third, you should be aware of any changes in the financial abilities of your elderly parents. If they are having difficulty managing their finances or if there are signs of potential financial exploitation, you should contact the local authorities or the Washington State Department of Social and Health Services immediately. Finally, be sure to consider setting up a power of attorney for your parents. This will ensure that you are able to make any important financial decisions on their behalf if they are no longer able to do so. By taking these precautions, you can help to protect your elderly parents from financial exploitation.

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How can I protect my elderly parents from financial exploitation?

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