week 14 power of attorney financial and elder abuse ice video 20191125 163805


– Hi GERO 200, it is November 25th, and you guys are about to get
a tiny little vacation break, which is nice, and Dr.
Walsh is here to show that he survived his surgery
and he’s doing pretty well. – I’m like the guy from Star
Wars, stuff is comin’ out of my chest.
[laughing] – We don’t even know
what he’s talking about, but he is hooked up to an ice machine. – That’s what she said.
– And ice is your friend. As many of you know,
when you have an injury or you’re recovering from surgery, so Dr. Walsh had a biceps
repair and a AC joint repair. – They cut off about an
inch of bone, full of holes. Everybody should do it. – So for all you athletes
that do overhead sports, we have a great doctor. – Water polo, football,
basketball, tennis, surfing. – Anyway, okay well thank you, Dr. Walsh for telling us that you’re still good. – May come back later on
and say goodbye again. – Okay.
– But I’m going to let the expert, the financial expert and the attorney expert do her thing. – Okay, thanks Dr. Walsh. So anyway, okay, so we’ve finally come to the end of the semester,
you guys have done an amazing job and I
know there’s a lot to do in this class and we had a lot to cover because we’re teaching you
everything you need to know for the rest of your
life in this one class. So this week we’re talking about financial power of attorney,
which is a great document that everyone who is over 18 should have. And as a lawyer, last week we talked about durable power of attorney for healthcare. There are many, many good
forms on the internet that you can use for
durable power of attorney for healthcare or living will. With a financial power of attorney, what you’re going to
find is a lot of times, specific institutions want
you to use their forms. So banks are famous for saying, “Oh, even though you have your own durable “power of attorney for financial
that your lawyer drafted “we want you to use our forms.” So you may find that it is helpful just to avoid the squabbles with the bank to go ahead and get a
power of attorney form from a bank, if you need one. However, it’s good to have a
financial power of attorney because, as, I did this recently with my brother-in-law. He’s single, he lives alone, he, you know, drives a lot for work, and we were concerned if
he got into a car accident or became sick that, you
know, we needed to be able to pay his bills and keep his house going and take care of him
while he was recovering. And so the point of having this
financial power of attorney is that you are going to give someone else the authority to access
your financial accounts. So obviously, you want to be careful about who you choose to be that person. So we call the person,
you know, so let’s say my brother-in-law, Tim,
he’s the principal. He picks an agent just like
you pick a real estate agent that’s going to help sell
you, or help you buy a house. You pick an agent that’s going
to be your financial agent and so they will be allowed
to deal with your bank, deal with your stock accounts, deal with your retirement accounts,
et cetera and take care of finances for you, if you need that help. There’s two types of
financial power of attorneys. One is called a springing
financial power of attorney because it springs into existence the moment you become incapacitated. Of course that raises the
question and perhaps the argument, is this person incapacitated enough to trigger the power of attorney? So most people just go ahead and sign a durable power of attorney for financial so that there’s no argument
about whether or not the person is competent or not. So, you sign a power of attorney and no one is going to
exercise that power, in theory, until you are incapacitated
and can no longer act for yourself. So the reading is from AARP,
which I’ve already pulled up. And this is just a real short article explaining a lot of what I just told you. What is the power of attorney? Who’s the principal? Who’s the agent? Who’s the attorney of fact? What are the different
types of power of attorneys? And what you need to think about when you’re choosing an agent. Now as an attorney, whenever
I create a document like this, I like to have, here’s
my number one choice for power of attorney. Here’s my number two choice
for power of attorney. And then some cases, here’s
my number three choice for power of attorney because you might create this document,
sign it, get it notarized, get it all legal and then things change. Maybe one of your choices moves away, maybe one of your choices becomes a little bit less trustworthy. Maybe they disappear,
you’re not friends anymore. So it’s good to have multiple choices in terms of the power of attorney. So let’s go back here. And so, you know, I encourage all of you, if you have any assets
whatsoever or if your parents have any assets, encourage
them to make sure that they have this document in place because again, if someone’s
sick and in the hospital and somebody needs to pay their bills, it’s good to have this
financial power of attorney to allow you to do that. One last thing that I forgot to mention. Most of the forums and certainly the California Statutory Forum that set up in the probate code
will allow you to select a whole laundry list of items. So I could say, I’m giving this
person my power of attorney to buy and sell real estate for me. So maybe you’re, you are
married and you’re going to be traveling that business,
but you want to buy a house and you give your power
returning to your spouse so that your spouse could sign for you. You could give your
someone a power of attorney just to handle your
healthcare issue, insurance, or a whole big laundry list of items. So you can be very broad or very specific. Generally, there’s a box that you check that says, all of the above. So I want someone to
have very broad powers. And there is a risk of
elder abuse because we know one of the primary types of
elder abuse is financial abuse. So there was a risk that
when you give someone the power over your bank
account, even though they technically are not owners
of that bank account, it is not uncommon to
find in elder abuse cases that a family member has emptied
out grandma’s bank account or dad’s bank account, and then
the siblings find out later, much to their dismay, that
grandma is now destitute and has no money for care. So it’s important to
pick the right person, and probably to have good oversight. Make sure that someone’s
checking the bank statements to see if money is disappearing. So the other thing that
we’re talking about this week is housing and legal issues
and we’ve given you a link to this great document,
Harvard Housing Study. But it is pretty long and I understand this the end of the semester and you guys have a lot on your plates right now. So you can, you know, scan it. I’m not expecting you to
read the entire document. You know, go through it,
look at the pictures. And we have highlighted some
of the important issues. So right now, we know that
we have an aging population. We know that our percentage
of our population that’s 50 and over is going to be bigger and bigger and bigger. One-in-five people will
be 65 and over in 2030 and one-in-eight will be 75 and over. So that’s an issue. We also know that as people get older, sometimes they have less money. If you are reliant on Social
Security to live your life, you are in a world of hurt
because it’s not, you know, the average Social Security benefit is between 1,000 and
$1,200 a month right now. That’s not going to go very far in a city like LA or Chicago or New
York or San Francisco. We are concerned in general
about the high cost of housing for everybody, but
especially for those people that are over 65, retired,
maybe not making a lot of money. Certainly, that’s a definite issue. So we’re worried about
the high cost of housing. How are people going to
pay for housing, et cetera? And how much money do
people have in reserve? So if you get into a problem
if your car breaks down and you have to pay rent, it’s a problem if you’re 65, 70 years old and you don’t have a lot of assets, you don’t have a lot of income coming in. So we do see a kind of
a housing assistance gap in terms of how many people are eligible and older people that are low income, eligible for housing assistance and how many people are
actually getting it. So there’s a pipeline
that’s getting clogged up and people aren’t getting
the help that they need. So that’s definitely
something to think about. You know, one of the other
things that we talked about is for people that are over 65, they are spending a lot
of money on health care, they’re spending money on food,
and you know it all adds up. So they don’t have money left for housing, they don’t have a lot of savings to move. If you have to move in
LA and you’ve got to get first and last month’s
rent, and Lord forbid, if you have a pet and have
to put out a pet deposit, it becomes very easy for people
to become housing insecure and end up homeless. So anyway, take a look at that. We have a video and we had a
video earlier this semester about elder abuse. This is for people, a lot of
people are very passionate on this subject. So this is a good video from the LA County District Attorney’s office about other, yes he’s back. He’s just, we’re getting through it. And I’m really proud of
USC because Laura Mosqueda, I was hired as the Dean of
Keck School of Medicine. She is a national expert on elder abuse, and we’re so lucky to have her. And in USC gerontology,
Fight On he says [laughing]. And USC gerontology we have Kate Wilber, who does a lot of great work in this. And we need to protect
our vulnerable populations and we need to protect our elderly people. So I want to talk a little
bit about some of the stats that we have up on the
USC elder abuse website. One in 10 in a given year,
one in 10 elderly people are going to report
emotional, physical, sexual, you know, elder abuse or neglect. Now the one thing we
all need to think about is most elder abuse doesn’t get reported. So the numbers are
vastly larger than that. When you look at the type of
elder abuse that is happening, it’s primarily financial abuse,
neglect, emotional abuse, and the things that are scary
like physical and sexual abuse are happening less often. But when they’re happening,
it’s a huge impact to the elderly person. 90% of the abusers are family members. So that’s why it doesn’t get reported. Grandma and Grandpa don’t want, you know, niece, nephew, son, daughter, grandchild to get into trouble. And they blame themselves
and they don’t come forward. So 93% of elder abuse is never reported, which is a very sad thing. People who have dementia
have a very, very high risk of being mistreated and
being victims of elder abuse, and that is partly because
I think they’re considered unreliable reporters. So, you know, someone with dementia who’s actually telling the truth, yes this guy came in and
he hit me and he did this and I have bruises, people say,
obviously she has dementia. So she’s not making
sense, she doesn’t know what she’s saying, et cetera. So, and finally, the impact
of elder abuse is so enormous because it’s associated
with higher mortality. So if we look at people
who have been designated or determined to the elder abuse victims, They are 5.82 times more
likely to die within a year. And those who are, who
haven’t been reported are much less likely to die. So, two times more likely if
it’s confirmed elder abuse, 1.38 times more likely
but suspected elder abuse. Self neglect is 5.82 times more likely to die within a year. So that’s very concerning. All righty. I was going to talk about, I almost forgot, I was going
to talk about the midterm. We’re getting a lot of questions about how to prepare for the midterm. I am going to try to put together a little bit of a study guide. I’m also, you know, drafting questions so that I can actually,
hopefully, give you tips on what to look at. So, the midterm is 60 questions. It’s two hours of open book,
open course, multiple choice. You’re supposed to take it by yourself. Do not take it with a friend. That would be a violation of
our academic integrity rules. And about 15 to 20 questions
are going to be based on the discussions and about
40 of them will be based on the reading. So, a lot of people are
saying, well how do I get to the discussions? If you go to GERO 200 weekly assignments, and you go to the
bottom, there is a folder called archive discussions
for midterm study. The only thing people are asking is, how do I go back over my old quizzes? Because we have question
pools, pre-quizzes and we recycle some of those
questions for the midterm. So it’s a good idea to study your quizzes. It will force you to go
through the material. So, go to the gradebook,
click on the number that is your grade for a quiz. It should take you to a second page and you’ll see that number
again that’s underlined. Click on that number again
because that underline is a hypertext link which
takes you to your quiz, and it shows you what answer you selected, and what the correct answer was. So you can you can quickly
go back through your quizzes. So, hopefully I haven’t stressed you out by talking about the midterm. – No it seems, I think people
do really well on the midterm. People do really well in this class. So don’t worry, you guys got it going on. Don’t worry. – Yes, and if you have any questions over Thanksgiving break, just email us. We’ll try to stay on top of our email. And we posted the
questions that you can use for your final interview
paper under that assignment but if, for some reason,
you need us to email you the questions, just let us know. We’re here and we’re not going anywhere. So I hope everybody has a
great Thanksgiving break. I hope you all have a
safe Thanksgiving break, and we will see you all next week. Remember, no quiz or
discussion is due on Monday. It’s all due the last Friday of class. So we’re giving you a
little bit of extra time, realizing that this
week is a holiday week. – And this, I think is or last lesson. – This is our last lesson. So when I say that I’m going to see you. I’m not, in the kind of
spiritual like yeah, like, yeah, we’re here, if you want to see us. – And I’ve just got to say to everybody, it’s an honor to be your professors. It’s an honor that you’ve been with us. We advise you, in terms of
becoming really successful someday, so we thank you for that. You guys are doing really well. Want to thank her because she’s awesome. We talked a little bit
in class about a big part of it is the sociology of aging. And if ever taken any
other classes from us, you realize that having a
really successful relationship is the number one predictor
of health and longevity and happiness. And so, that’s that’s where we’re at. We’re very happy and I’ve
been for a long time. – And you don’t have to
have a lot of relationships. And you don’t have to be married. You just need like a friend
or a dog or whatever. You know, it doesn’t matter. It can be a plant. Just something that makes you happy. – Just think where I’d be right now if I didn’t have her to
help me as a caregiver. Having shoulder surgery and
a lot of this happened to me because she allowed me to be a
[indiscernible] surfer my whole life. She’s always been there for
me and so it’s really awesome. Okay, so I think what
we’re going to do now– – We’re going to try to turn this off. – We can turn this off right here and–
– Bye guys. – We’re going to go like this
and we’re going to say bye guys. – Bye guys, Happy Thanksgiving.

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