Core Points - The article discusses the issue of elder financial abuse, particularly focusing on a case where an elderly individual is being exploited by their son and his girlfriend, highlighting the emotional manipulation involved [1][2][9] - It emphasizes the importance of setting up legal protections such as trusts and powers of attorney to safeguard the financial interests of elderly individuals, especially those suffering from cognitive decline [4][5][6] Group 1: Elder Financial Abuse - Elder financial abuse can manifest through emotional manipulation and exploitation, as seen in the case where the son threatens to withdraw love if financial actions are taken against his girlfriend [1][9] - Approximately 10% of individuals over 65 experience some form of abuse, with higher rates in long-term care facilities [8][9] - The National Institute on Aging identifies signs of financial incapacity, including difficulty with basic financial tasks, which can indicate a need for intervention [7] Group 2: Legal Protections - Establishing a marital trust with a spendthrift clause can help manage assets and provide for future needs while protecting against exploitation [4] - Setting up durable power-of-attorney documents is crucial for ensuring that decisions can be made on behalf of the elderly individual when they are incapacitated [5] - A living trust can help avoid probate and set conditions for future financial support, which is essential for those with cognitive decline [6] Group 3: Preventive Measures - Freezing accounts with major credit bureaus can prevent unauthorized access to financial resources, protecting against potential exploitation [10] - It is advised to report suspected elder abuse to adult protective services or law enforcement to address the issue promptly [9]

Estate Planning Basics - Estate planning is an emotional process requiring organization and key documents [1] - Core estate planning documents include power of attorney, health care proxy, living will, and last will and testament [1] - Strategic gifting can impact estate taxes [1] - Estate plans should be revisited periodically [1] Key Documents & Considerations - Power of attorney allows someone to act on your behalf [1] - A health care proxy designates someone to make health care decisions [1] - A living will outlines your wishes for medical treatment [1] - A last will and testament outlines how your assets will be distributed, probate may be required [1] - Wills and trusts serve different purposes in estate planning [1] Resources - Fidelity provides resources for creating an estate plan and avoiding common pitfalls [1] - Money Unscripted releases new episodes bi-weekly on Tuesdays [1]

President Trump has ordered ICE officers to carry out the single largest mass deportation program in history. It's escalated migrants, immigrants rather, fears of being detained or deported. Today, we spoke with CNBC senior personal finance correspondent Sharon Eper about the financial impact of these actions.And her first tip is to make sure your money and property are protected. This is actually something that everyone should think about in terms of protecting their finances. And the first is to just have ...