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Elder Financial Care

Caring for older adults

The financial issues can be concerning

Did you know?

  • 10,000 Americans turn 65 each day (according to the Social Security Administration)
  • More than $37 billion is lost each year as a result of the financial exploitation of seniors (according to the Consumer Financial Protection Bureau)
  • Millions of Americans manage money or property for a loved one who is unable to pay bills or make financial decisions

How Bank of America can help

Recent studies suggest that financial exploitation — the illegal or improper use of an older adult's funds, property or assets — is the most common form of elder abuse. Here are a few ways you can help guard against financial exploitation:

While these services can help guard against elder abuse, they're available to all our customers and can be appropriately used for a variety of needs, for example: naming a trusted contact could be important to a member of the armed forces who has been recently deployed, or setting up a joint account might be useful if you've recently been married. (If you're a Merrill or Private Bank client and have questions regarding these services and your accounts, please contact your Advisor for assistance).

Additional resources

We've assembled useful resources that can help you guard against elder abuse, assist in caregiving and help protect against fraud. These include:

> See all additional resources> See all additional resources> See all additional resources

Learn more and see how to set up a trusted contact
Additional resources about caring for older adults

Need to make changes to an account?

Most account changes require that you schedule an appointment to meet with an associate in one of our financial centers.

Looking for notary services?

Bank of America provides our customers with notary services free of charge in our financial centers nationwide.