Dear Moneyist, My uncle is 74 years old, recently diagnosed with the beginning stages of dementia and an old family friend is stealing two-thirds of his Social Security check. The “family friend” is my cousin’s ex-wife whom he had divorced some 35 years ago. They reconciled and she moved into my uncle’s house. Neither she nor my cousin are gainfully employed or generate any sort of household income. My uncle’s $1,500 Social Security check is the only household income. I had first started suspecting that something wasn’t quite right when she convinced my uncle to buy her a car. I didn’t raise a fuss about it because she was transporting him to his doctor’s visits every couple of months and handling his shopping.
‘I had first started suspecting that something wasn’t quite right when she convinced my uncle to buy her a car. I didn’t raise a fuss about it because she was transporting him to his doctor’s visits.’
Well, during one of my visits about six months ago, she told me that she had begun managing his funds because he was bouncing checks. My uncle told me that the banker told her that if he didn’t add her to his account, they were going to close his account. This is also what she told him to coerce him into adding her to his account. I, of course, know that this would be an unorthodox practice for any financial institution, but a part of me still wanted to trust her. His bills were getting paid and he had what he needed (or so I thought). On another visit, I noticed that my uncle’s shoes were held together by insulating tape — he said he didn’t have any money. Keep in mind, my uncle had just received his check about 10 days before and his bills total less than $400 per month. There is no reason why he shouldn’t have any money. Naturally, on the following Saturday, I took him to buy two new pair of shoes.
‘This woman told my uncle that his psychiatrist said that if he didn’t sign over power of attorney to her, he was going to place him in a nursing home.’
This woman then told me that my uncle had signed over power of attorney to her. She told my uncle that his psychiatrist said that if he didn’t sign over power of attorney to her, he was going to place him in a nursing home. At this point, I clearly see what is happening here. A few days later, Jan. 3, I picked up my uncle and took him to the bank so we could review his account. He received his check for $1,498 that day. By the time we got to the bank, he had just over $700. She had already taken nearly $800 out of his account. Also see: This... My uncle’s caregiver raided his Social Security to pay for her car, cell phone and cable bill
- Category: Economics
Dear Moneyist, My uncle is 74 years old, recently diagnosed with the beginning stages of dementia and an old family friend is stealing two-thirds of his Social Security check. The “family friend” is my cousin’s ex-wife whom he had divorced some 35 years ago. They reconciled and she moved into my uncle’s house. Neither she nor my cousin are gainfully employed or generate any sort of household income. My uncle’s $1,500 Social Security check is the only household income. I had first started suspecting that something wasn’t quite right when she convinced my uncle to buy her a car. I didn’t raise a fuss about it because she was transporting him to his doctor’s visits every couple of months and handling his shopping.
‘I had first started suspecting that something wasn’t quite right when she convinced my uncle to buy her a car. I didn’t raise a fuss about it because she was transporting him to his doctor’s visits.’
Well, during one of my visits about six months ago, she told me that she had begun managing his funds because he was bouncing checks. My uncle told me that the banker told her that if he didn’t add her to his account, they were going to close his account. This is also what she told him to coerce him into adding her to his account. I, of course, know that this would be an unorthodox practice for any financial institution, but a part of me still wanted to trust her. His bills were getting paid and he had what he needed (or so I thought). On another visit, I noticed that my uncle’s shoes were held together by insulating tape — he said he didn’t have any money. Keep in mind, my uncle had just received his check about 10 days before and his bills total less than $400 per month. There is no reason why he shouldn’t have any money. Naturally, on the following Saturday, I took him to buy two new pair of shoes.
‘This woman told my uncle that his psychiatrist said that if he didn’t sign over power of attorney to her, he was going to place him in a nursing home.’
This woman then told me that my uncle had signed over power of attorney to her. She told my uncle that his psychiatrist said that if he didn’t sign over power of attorney to her, he was going to place him in a nursing home. At this point, I clearly see what is happening here. A few days later, Jan. 3, I picked up my uncle and took him to the bank so we could review his account. He received his check for $1,498 that day. By the time we got to the bank, he had just over $700. She had already taken nearly $800 out of his account. Also see: This...