Dave Katra leverages expertise in trust management and patient advocacy to lead Trusted Solutions Los Gatos in California with his wife, Sue. A California Licensed Professional Fiduciary, Dave Katra helps elderly people “age in place” while protecting their assets and preventing elder financial exploitation.
The National Adult Protective Services Association (NAPSA) states that elder financial exploitation is a widespread issue and notes that 20 percent of adults who are 65 or older have reported experiencing financial exploitation. According to NAPSA, elder financial exploitation is also largely under-reported, with just one in 44 cases reported to authorities.
NAPSA explains that elder financial exploitation is when a person takes or misuses the assets of a vulnerable senior for their own gain, thereby depriving the elderly person of crucial financial resources. Performed through various methods, from fraud to real estate misuse, elder financial abuse often involves coercion, deception, harassment, and the use of false pretenses. NAPSA emphasizes that elder financial exploitation can force seniors to live in poor health, poverty, and fear, while also costing families and taxpayers billions of dollars every year.
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