Serious problems with the public guardianship system in the United States can lead to elder abuse, according to an in-depth article in TheNew Yorker. Court-appointed guardians can take control of an elderly person’s finances and life and become wealthy while doing so.
A long-term care insurance company recently cancelled the insurance coverage of an elderly woman who accidently wrote the wrong amount on her premium check. The case illustrates the need for policyholders to pay attention to the details.
The Department of Housing and Urban Development has announced changes to the federal reverse mortgage program that will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow.