Objectives: The Lichtenberg Financial Decision Rating Scale (LFDRS) is a person-centered tool for analyzing the integrity of financial decision-making abilities. Initial studies supported its reliability and validity (Lichtenberg et al., 2020; Lichtenberg et al., 2017; Lichtenberg et al., 2015). This study examines the cross-validation of the LFDRS Scale to assess its concurrent validity with a measure of executive functioning and suspected financial exploitation (FE).
Methods: Ninety-five older adult community participants underwent an assessment session. The total LFDRS was significantly related to executive functioning.
Results: Trail Making Test Part B was the only significant predictor of the LFDRS total score in a regression equation. An independent sample t-test showed that victims of FE scored higher on the LFDRS than those who were not victims.
Conclusions: These findings are consistent with the initial validation study of the LFDRS and the initial study on the intersection of decision-making and FE (Lichtenberg et al., 2017, 2020) and adds evidence supporting the LFDRS concurrent validity.
Keywords: Financial decision-making; financial exploitation; person-centered assessment.
Clinical Implications:The LFDRS is a person-centered tool for assessing financial decision-making and can be used in clinical assessments of financial capacity.The LFDRS can be a useful tool for assessing decision-making capacity in those who have been FE.