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...document - couldn't have come at a better time. "Financial abuse is one of the fastest growing areas of elder abuse," says Andrea Lowenthal, an elder-law and estate-planning attorney in New York. "Older people are a growing segment of society and are among the most vulnerable, often because of their misplaced trust." But if seniors are the prey, then they often choose their predators - people they've empowered to act on their behalf, as agents, in financial matters, though a POA. (Watch TIME's video "Seniors Say End-of-Life Care Matters...
...agent. In some cases, the agent - usually an offspring - didn't even know he or she had been named in the document until the principal became unable to take care of day-to-day financial affairs. Such secrecy generally led to confusion down the road, with the appointee often woefully ignorant of the principal's state of affairs. In other instances, a health-care aide or housekeeper with ulterior motives might procure a POA and persuade a gullible senior to sign it. The signature of the principal was basically all that mattered then...
...goes even further when addressing gift-giving. In the past, it was relatively easy for people expecting to be named as agents to slip into the POA a self-serving gift-giving provision. Because these write-ins would often be overlooked by the principal, it was possible for agents to write checks to benefit themselves and clean out a principal's bank account. Now such doings will be harder to get away with. If the principal wants to grant the agent the specific power to make gifts, the principal must initial a box on the POA authorization form, and then...
...past several years, Britain's Department of Health has spent about $200 million a year on hiring international management-consultant firms, hoping to find ways to counter rising health-care costs associated with an aging population, expensive new medical treatments and rising patient expectations. The result is often a clash of cultures. A former analyst at A.T. Kearney, who spoke to TIME on condition of anonymity because of a nondisclosure clause in his contract, recounted the reaction of senior British health officials when he suggested that they adjust for increases in pharmaceutical costs by upping the fee patients...
...human enhancement? There are intellectual arguments, but on a gut level, what is most persuasive for me personally is comparing the best times of my life with the worst times. The difference is pretty big. So I ask, Why can't it be like the best times more often? Then I observe that there are all kinds of biological constraints that make this difficult or impossible. Some form of enhancement would be needed to mitigate these constraints...