By Todd Erik Henry, National and
Chapter Board Member

Financial exploitation is one of the more common
forms of abuse of adults that face physical challenges. 
Reducing the threat of financial exploitation is to keeping persons with ALS (PALS) independent.  By reducing this
threat, PALS also can retain control of their financial security.      

• Protect your personal information.  Do not give your personal information (e.g. social security number, date of birth) to someone you do not know very well, or who you do not believe has an appropriate reason to know it.
• Do not give access to financial information to someone who you hardly know.
• Do not give your credit card number, your social security number, or bank account numbers over the phone unless you are confident you are talking with your bank or credit card company.

• Be thoroughly familiar with the current status of your financial assets (e.g., checking account, savings account, money market account, stocks).  Check your monthly checking account statements and other statements.  If you can, check them on-line more frequently.
• Know how to manage your financial investments and other assets.
• Organize your financial documents in one place for easy and quick reference.
• Do not add another person’s name to bank, security or insurance documents without legal advice.

• Keep valuables (e.g., jewelry, stock certificates, gold coins) in a safe place.  
• If you have a caregiver that comes into your home, seriously consider keeping certain valuables in a safe deposit box.  
• Keep an inventory with photos of important collections (e.g., crystal, bronze statues, porcelain figurines) that you intend to enjoy in your home.  Keep more than one copy of the inventory list and photos with a trusted relative or friend in another state.  Conduct an inventory prior to hiring a caregiver. 

• Consider direct deposit for any regular monthly income.  If you are computer literate and capable, set this up yourself.  Otherwise, have someone you trust set this up.
• Make sure to only have one or two people you truly trust have passwords to your on-line banking account, stock trading account and the like.  Do not keep passwords visible for contracted caregivers.     
• Shred unneeded bank statements, and other outdated financial documents.  Shred documents yourself if you are physically able.  Ask a trusted family member if needed.  This is especially important if you have a caregiver that comes into your home
  

• Do not sign any document until you or someone you trust has read it. If a document seems overly legal and complex, seriously consider having an attorney review the document.     
• Obtain legal advice for questions regarding power of attorney or durable power of attorney.  Make sure that the person you designate as your power of attorney is someone you know and trust very well.
• Make a will and carefully consider all revisions before finalizing them.  Consult an attorney when making a will. 
• Think very carefully about deeding or willing your house or other assets to anyone who promises to keep you out of a nursing home, or take care of you at home.
  
  

• Gather all the facts before making major medical equipment purchases.  Consult with multiple people before making major medical equipment purchases (e.g., power scooter, power wheelchair).  Consult with your physician, other health care providers, your health plan, fellow PALS and your ALS Association office before making a decision.  You may need to weight very carefully the pros and cons about purchasing or leasing certain types of medical equipment under your health plan’s benefits before making a final decision. 
• Remember, some medical equipment may be available on loan for free through your local ALS Association loan locker, or another organization. 
• Take time to determine whether purchasing or leasing is the best option. 
• Do not let a sales person pressure you into making a hasty purchase or lease decision.    

• Shop around before purchasing medical supplies.  While there may be restrictions upon what suppliers your health plan will let you use, it is important to still investigate the pricing on supplies between vendors within the health plan’s medical supplier network available to you. 
• Make sure to review your medical supply bills for accuracy.
• For medical supplies you purchase outside your health plan coverage, it is very important to shop around for price, quality and other factors (e.g., delivery of supplies to your home). 

• Obtain two or more bids for home modifications (e.g., ramps, elevator, door way) or home repair work from reputable contractors. 
• Only hire a contractor to do home modifications or repairs who is licensed and bonded.
• Ask a PAL for the name of a building contractor they had positive experience with.
• Ask a contractor for references, and check those references.  Make sure to get references for the type of work you are considering them for (e.g., building a wheelchair ramp).  
• Think twice about having more construction work done on your home than is needed.

• If you hire a caregiver, make sure to do a thorough background check.  This includes checking at least five references of a potential caregiver.  Find out “why” the person changed employers.  Also, conduct a criminal background check.  Do not hire a caregiver with a criminal conviction history of financial exploitation, fraud, theft or violence.

• Learn about the various levels of services associated with long-term care facilities.  The types of facilities and homes, and services vary among the states.
• Investigate long-term care services at homes in the geographic area where you live.  Do this long before you would ever need to be placed in a long-term care facility. 
• Become familiar with the fees and associated services for those fees before you ever need long-term care. 
• Learn what supplies and services a facility can and cannot charge you for.
• Ask the Long-Term Care Ombudsman in your state for their opinion of the facility.  Have they received complaints from residents or family and friends of residents of financial exploitation of residents at that facility?   
• If you ever need to be placed in long-term care, do not sign documents handed to you prior to admission at a health care facility (e.g., nursing home, assisted living facility, adult foster home, adult family home) without reading and understanding what you are agreeing to.  Have a close, trusted relative or friend read these documents too.  If in doubt, don’t sign.  If in doubt, have an attorney review. 
• If you are admitted into a long-term care facility, reacquaint yourself with what supplies and services the facility can and cannot charge you for.  Also, make sure to closely look at the monthly bill to ensure that you received what you are billed for and at the proper rate