Financial Elder Abuse By My 91 Year Old Mother’s Financial Advisor
And I’m Dr. Mikol Davis, psychologist. This is a true story about my Mom, Alice who was age 90 when this happened.
This is so hard to believe, isn’t it Carolyn?
CAROLYN:
It’s so ironic. Here we are, always trying to give folks a heads up about preventing financial abuse. And then, something abusive happens to Mom! It’s amazing.
This situation came up when Mikol’s Mom decided to change financial advisors. The guy she was using for financial advice had talked to her about her investments a year before this happened. He thought he had explained this particular thing he put her in, but I doubt it. In any case, he never told her that he wanted to take a large sum and put it into something where she couldn’t access her money for 12 years!
Does that make sense to you? 12 years of not being able to take out your cash for a 90 year old?? (more…)
