Tag: cognitive impairment
The brief’s key findings are: As retirees grow older, many have to make major financial decisions while facing the risk of cognitive decline. One way to guard against missteps is to transfer control to a trusted agent, often a family member. A recent survey of investors ages 55+ found that: most have a dependable agent in mind…
Abstract Social Security’s Representative Payee Program allows one individual to receive benefits on behalf of a retiree or disabled person who is incapable of managing them. In the case of retirees with cognitive impairment, the program could help prevent fraud by ensuring that Social Security benefits are immediately turned over to a capable individual. This…
