There are few circumstances when your loved one should execute a financial power of attorney that gives their agent the immediate authority to make financial decisions. Financial powers of attorney are one of the easiest ways to commit elder financial abuse. The preferred method is to require that the agent’s authority is granted only after two qualified medical doctors declare in writing, under penalty of perjury, that the elder is mentally incompetent and unable to make sound financial decisions.

Although still not foolproof, this requirement gives a great deal of protection against financial exploitation. A bad guy must now involve two doctors in order to carry out the rip-off. It is always possible that the perpetrator will simply have the elder execute a new power of attorney that revokes all prior powers and gives the agent the immediate authority. When family members and friends are actively involved in the elder’s life, the crook will have much more difficulty in accomplishing this without being caught.

Speak with bank personnel and other financial institutions where the elder’s money is invested. Show them the power of attorney and explain that its purpose is to protect the elder in case someone tries to take advantage. Point out the added protection that requires two qualified medical doctors confirm the elder’s lack of capacity before the power of attorney is effective. Ask them to red-flag the elder’s accounts by placing a computer notation that the bank personnel should question any substantial withdrawals or unusual activity.

Many family members hesitate on broaching the subject of powers of attorney, in fear that their elderly loved one may take offence and tell them to mind their own business. Every family has their own unique dynamics. However, you can ease some of the awkwardness by doing some of your own research and sharing it with your loved one. Many counties agencies have informational brochures that explain the purpose in creating powers of attorney and how they can assist in financial matters.

Today however, Elder-law is becoming a practice that is gaining more widespread acceptance. it is loosely defined as laws that affect the elderly. However, this is only part of the story. Here are the most common aspects of Elder-Law in the United States.

Elder-Law Certifications:

While certification is voluntary, many seniors are advised to seek the counsel of a Certified Elder-Law attorney. The certification requires proof from these attorneys that the following criteria are met:

* licensed to practice law in at least one state
* be actively practicing law for five years prior to applying for certification
* must be a member in good standing in the bars where they are licensed to practice
* have to display that they have averaged 16 hours per week to elder law over the 3 years prior to application plus handled at least 60 elder law cases during that time
* have participated in Continuing Education focused on elder law
* must provide five references from other attorneys with qualifications in elder law
* must pass the elder law certification exam

If an attorney has received certification, you should be able to identify them by the certification initials that follow their names, namely CELA.

Type of Advice available from Elder-Law Practices:

Elder-law is not as simple as it may seem at the outset. Attorneys who elect to specialize in elder law agree that they will assist not just elderly clients, but their caregivers in many cases as well. These attorneys may be involved in planning for health and personal care, helping with powers of attorney, helping with financial aspects including housing, and tax matters. In addition, elder law also encompasses such things as asset protection, public benefits and more.

Elder-law may also delve into more familial matters such as grandparents’ rights, age discrimination for employment, will and trust planning as well as planning for aging and assisting well spouses with planning for long term care for their spouses who are incapacitated. Elder-law specialists may also get involved in capacity hearings, guardianship and patients’ rights while under care at medical facilities.

Protection of Seniors:

In addition to the items mentioned above, there is sadly much reason for us to be concerned about the treatment of the elderly. As economic conditions become increasingly dire for larger percentages of the population it is not unusual for senior citizens to become the target of scams. In addition, family members may begin taking advantage of their elder parents and in some cases this can lead to cases of abuse. It is becoming more critical for those whom are elderly to have their own advocates. This is where elder-law becomes a critical function in the legal field.

As the population growth spurt known as the Baby Boom ages, we are bound to see more need for protection for ourselves or our loved-ones as they age. We may glad to know that the Elder-Law specialty is available for our support and the defense of our rights.