How to Spot Red Flags of Clients at Risk for Exploitation – By Jennifer L. FitzPatrick

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Suzanne has been 82- year old Mr. Burns’ financial planner for the last seventeen years.  Mr. Burns has been very conservative with his investments and has never made a large withdrawal from his account.  Today, Mr. Burns calls to say he would like to liquidate his account so he can travel across Europe with his new 28-year old girlfriend.  Suzanne is perplexed by this—she has never known Mr. Burns to go on a vacation other than to visit his daughter who lives a few hours away.  This is also the first time Suzanne has ever heard about a new girlfriend.

Everything might be just fine with Mr. Burns; perhaps he has finally gotten the travel bug and has genuinely fallen in love.  On the other hand, this new behavior could indicate a change in cognitive status.

Many people understand that Alzheimer’s disease and other dementias include short term memory loss.  But what so many don’t understand is that unusual behavior, personality changes, lack of inhibition and getting lost in familiar places can also be red flags.

While financial planners advise and guide their clients, ultimately the client has a right to do what he wants.  Even though Suzanne may express concern about his liquidation request, she ultimately would have to follow his order. That’s why I am thrilled that FINRA has established these new rules to protect the older investor as well as the financial planner:

https://www.finra.org/sites/default/files/Regulatory-Notice-17-11.pdf

Beginning in February 2018, planners will have some options in cases like this.  Suzanne could put a temporary hold on Mr. Burns’ account.  She could also contact Mr. Burns’ trusted contact person who is listed on his account.  These rules offer the financial planner peace of mind when dealing with a client situation that feels “off.”

Once Suzanne exercises these options, it’s possible that it will be determined that Mr. Burns is cognitively intact. Maybe Mr. Burns knows exactly what he is doing and it will all work out fine.  He and the new girlfriend will live happily ever after backpacking across Europe.  Or perhaps Mr. Burns is being exploited and he will end up losing his life savings through a scam perpetuated by the new girlfriend.

With the implementation of these new rules, it is quite possible that Suzanne could save Mr. Burns and his family from the heartache of poor decisions made under the influence of dementia.

If you are a financial planner who wants more information about how to spot red flags of clients at risk for exploitation, join me for a webinar on the topic approved by the CFP Board: Thursday Dec 7–To register, click on http://jenerationshealth.com/online-events. I will also be on Sirius XM this week discussing this topic on Business Radio Channel 111 at 5pm EST on December 5.

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.

Who Will Take Care of You When You’re Old? – By Jennifer L. FitzPatrick

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My husband and I don’t have kids. Finally, now that we are in our mid-forties, people have stopped asking when we will. But for a very long time, when we indicated that we didn’t have children, people—even strangers—would inquire, “But who will be there for you when you get older?” Frequently my response was, “We have long term care insurance,” with a smile. That usually shut down the conversation.

Of course, such discussions have always reminded me that our older adulthood will differ from peers who will have adult children, grandchildren and possibly even great-grandchildren. While having children does not guarantee anyone a caregiver someday, we know that we may have less social support than other older adults.

Because of this, when I first heard about Joy Loverde’s new book Who Will Take Care of Me When I’m Old?, I immediately said to my husband, “We need this book.” I’m thrilled to report that this book is much more than what I was expecting. While Loverde recognizes our situation, she also reminds the reader that thinking ahead about who will support you in old age is not just an issue for the childless. Even those with many adult children should be proactive in developing a robust social network for their later years.

Loverde covers practical ideas such as how to become better at socializing (even if you consider yourself shy) so you can enjoy more social support. She also offers provocative ideas like having a funeral before you die. Repeatedly while reading Who Will Take Care of Me When I’m Old, I found myself thinking, “I never thought of that before!”

Though I was initially personally interested in Who Will Take Care of Me When I’m Old, professionally I wholeheartedly recommend it to anyone who wants to have a more fulfilling aging experience.

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.

What do you do about sex…and dementia? By Jennifer L. FitzPatrick

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How should senior living communities handle residents who have dementia who are “sexually aggressive?”  What do spouses and partners do about their sexual needs if their loved one has dementia?  Can somebody with Alzheimer’s disease or another cognitive impairment say “yes” to sex?  Check out Jen’s recent interview on Valda Ford’s Sex Is Not For Sissies show where we explore these complex questions:

http://www.spreaker.com/user/9496980/sept-11-jennifer-fitzpatrick

 

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.

Medication on My Mind: Tips For Remembering – By Jennifer L. FitzPatrick

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Missing or doubling up on medication can cause major problems for older persons, including unnecessary hospital visits.  If you are prescribed multiple medications or taking care of someone who is, remembering what drug to take when can be a real chore.  Here are 6 simple tips for making medication management less challenging:

1)      Set timers on your cell phone.

2)      If you are married or coupled up, make it a habit that both of you take medicines at the same time.

3)      Use the Lively Safety Watch which offers med reminders.

4)      Use an old-fashioned pill box with dividers for days and time of day.  While not fancy, it is very effective for people who take multiple meds.  Set up a time every week or two to focus on filling the sections with the appropriate medicine.  Be sure to not allow distractions like tv or texts when doing this.

5)      Consider using an old-fashioned paper and pencil tracking system.

6)      If an older adult is still struggling with medication management after trying a system, consider whether it’s time for hiring a home care aide or going to assisted living.  Often the inability to be medication-compliant is a red flag that more help is needed.

If you want more tips on how to more efficiently care for an older loved one, check out www.cruisingthroughcaregiving.com.

 

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.

Is Reverse Ageism A Problem In Your Workplace? By Jennifer L. FitzPatrick

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You wouldn’t dream of making racist or sexist remarks in the workplace, right?  So why do some workplaces tolerate ageist comments? Older adults are no strangers to this phenomenon but reverse ageism is now impacting younger employees in the workplace.  Check out Jen’s new video on how to handle reverse ageism in the workplace:

https://www.youtube.com/watch?v=MMMZ62S7Kc4&t=143s

 

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.