This topic is prompted by the discussions of someone getting to the place of not being able to make good financial decisions.
If your loved one is getting increased amounts of junk mail, making uncharacteristic withdrawals, stuffing cash into envelopes to "support causes" (legitimate and otherwise), entering sweepstakes (particularly international ones which are illegal to enter), or entertaining calls from telephone scammers, things are already 'down the rabbit hole' and you need to intervene "yesterday" as you may have only weeks to preserve any assets and prevent debt (cash advances, borrowing from friends, lines of credit, all going to the scammers.)
However, since financial institutions will likely defer to their client and not work with you, unless their client is with you and gives permission for you to manage - this is not as easy as it sounds (yes, even if you have a notarized, currently-in-force durable power of attorney that does not require a diagnosis of incompetence to kick in.)
This is the the most dangerous stage - the stage prior to incompetence (but on the dementia path). To anyone having only short or periodic interactions with the individual, nothing may seem amiss. The individual can, in fact, make decisions - it's just that they are incredibly awful decisions. Adult Protective Services is no help in this twilight zone prior to incompetence. The scammers even coach the victims on how to cover up and lie to their family and the bank about the expenditures. The person may use anger to get family members to back off ("Don't tell me what to do! It's my money and I can use it as I wish!")
Short video on his relatives' losses to prize scammers and the relatives' unbelievable perception of how much they had lost
The United States Postal Inspection Service - Warning Signs
A family's experience trying to protect Mom (radio program - long but very educational) and how the scammers threatened the extended family
http://www.postalinspectorsvideo.com/dontfallforit/DFFI 06-26-13.wav
Several Postal Inspector pages
https://postalinspectors.uspis.gov/
https://postalinspectors.uspis.gov/radDocs/PressRoom/DFFI.html
https://postalinspectors.uspis.gov/investigations/MailFraud/fraudschemes/FraudSchemes.aspx
https://postalinspectors.uspis.gov/pressroom/schemealerts.aspx
Kindest regards.
If your loved one is getting increased amounts of junk mail, making uncharacteristic withdrawals, stuffing cash into envelopes to "support causes" (legitimate and otherwise), entering sweepstakes (particularly international ones which are illegal to enter), or entertaining calls from telephone scammers, things are already 'down the rabbit hole' and you need to intervene "yesterday" as you may have only weeks to preserve any assets and prevent debt (cash advances, borrowing from friends, lines of credit, all going to the scammers.)
However, since financial institutions will likely defer to their client and not work with you, unless their client is with you and gives permission for you to manage - this is not as easy as it sounds (yes, even if you have a notarized, currently-in-force durable power of attorney that does not require a diagnosis of incompetence to kick in.)
This is the the most dangerous stage - the stage prior to incompetence (but on the dementia path). To anyone having only short or periodic interactions with the individual, nothing may seem amiss. The individual can, in fact, make decisions - it's just that they are incredibly awful decisions. Adult Protective Services is no help in this twilight zone prior to incompetence. The scammers even coach the victims on how to cover up and lie to their family and the bank about the expenditures. The person may use anger to get family members to back off ("Don't tell me what to do! It's my money and I can use it as I wish!")
Short video on his relatives' losses to prize scammers and the relatives' unbelievable perception of how much they had lost
The United States Postal Inspection Service - Warning Signs
A family's experience trying to protect Mom (radio program - long but very educational) and how the scammers threatened the extended family
http://www.postalinspectorsvideo.com/dontfallforit/DFFI 06-26-13.wav
Several Postal Inspector pages
https://postalinspectors.uspis.gov/
https://postalinspectors.uspis.gov/radDocs/PressRoom/DFFI.html
https://postalinspectors.uspis.gov/investigations/MailFraud/fraudschemes/FraudSchemes.aspx
https://postalinspectors.uspis.gov/pressroom/schemealerts.aspx
Kindest regards.