Financial exploitation, financial capacity, and Alzheimer's disease.
نویسنده
چکیده
Research in the past decade has documented that financial exploitation of older adults has become a major problem, and psychology is only recently increasing its presence in efforts to reduce exploitation. During the same time period, psychology has been a leader in setting best practices for the assessment of diminished capacity in older adults culminating in the 2008 American Bar Association Commission on Law and Aging and American Psychological Association (ABA/APA) joint publication on a handbook for psychologists. Assessment of financial decision-making capacity is often the cornerstone assessment needed in cases of financial exploitation. This article will examine the intersection of financial exploitation and decision-making capacity and introduce a new conceptual model and new tools for both the investigation and prevention of financial exploitation. (PsycINFO Database Record
منابع مشابه
New Approaches to Preventing Financial Exploitation: A Focus on the Banks.
An 84-year-old man with mild to moderate Alzheimer’s disease can no longer manage his money or even shop at the local grocery store, but when taken to a bank, he signs a notarized reverse mortgage and loses $240,000 to his handyman who has secretly befriended the man over a 6-month period. What is needed for the financial services industry to help prevent financial exploitation of this type whi...
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This study examines preliminary evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS), a new person-centered approach to assessing capacity to make financial decisions, and its relationship to self-reported cases of financial exploitation in 69 older African Americans. More than one third of individuals reporting financial exploitation also had questionable decisional abilities. ...
متن کاملThe Lichtenberg Financial Decision Screening Scale (LFDSS): A new tool for assessing financial decision making and preventing financial exploitation.
One of the challenges in preventing the financial exploitation of older adults is that neither criminal justice nor noncriminal justice professionals are equipped to detect capacity deficits. Because decision-making capacity is a cornerstone assessment in cases of financial exploitation, effective instruments for measuring this capacity are essential. We introduce a new screening scale for fina...
متن کاملAssessing financial capacity in patients with Alzheimer disease: A conceptual model and prototype instrument.
OBJECTIVE To investigate financial capacity in patients with Alzheimer disease (AD) using a new theoretical model and prototype psychometric instrument. DESIGN Cross-sectional comparisons of older control subjects (n=23) and patients with mild (n=30) and moderate AD (n=20). MAIN OUTCOME MEASURES Financial capacity was measured using the Financial Capacity Instrument, a prototype psychometri...
متن کاملFinancial capacity in older adults: a growing concern for clinicians.
Older people with cognitive impairment and/or dementia may be particularly vulnerable to diminished financial decision-making capacity. Financial capacity refers to the ability to satisfactorily manage one's financial affairs in a manner consistent with personal self-interest and values. Impairment of financial capacity makes the older individual vulnerable to financial exploitation, may negati...
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عنوان ژورنال:
- The American psychologist
دوره 71 4 شماره
صفحات -
تاریخ انتشار 2016