Bill aimed at preventing financial exploitation of seniors becomes law

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AUGUSTA, Maine (WABI) - The House and Senate overrode the Governor's veto of a bill Tuesday aimed at preventing financial exploitation of seniors.

The bill is now law and will go into effect 90 days after the Legislature adjourns.

It clarifies the intent of older Mainers when opening a joint financial account.

Often times, a caretaker or family member will help control finances for the elderly.

The bill requires each owner of a joint financial account to answer in writing whether they intend to leave the account to the surviving party in the event of his or her death.