The Institute on Aging and the Department of Medical Ethics and Health Policy at the University of Pennsylvania sponsored a conference featuring UPenn PRC investigator, Dr. Jason Karlawish. Dr. Karlawish highlighted the changes in brain function, which make it more difficult for seniors to manage their finances. Not only does cognitive decline affect math and memory skills, but it also impacts the ability to interpret the intentions of others. It puts the elderly at risk for abuse by scam artists, relatives, or acquaintances, In addition to the threat of poverty.
Most importantly, poor financial decisions can be a sign of dementia or declining brain health. However, Karlawish is among a group developing a new tool to help legal and social services workers. They will be able to assess whether older people are capable of making good decisions.
Read the article published in The Inquirer here.