Financial Abuse of the Elderly

It works to recognize the fact that estate planning is simply one element of senior law, and as elder law attorneys it is our job to remain apprised of all of the issues of the day that impact our elders. One matter that has been getting a lot of attention recently is that of senior financial abuse, and it is something to keep in mind when you are participated in planning for your golden years.

How can senior citizens be financially abused? There are lots of various ways, and we will deal with a few of them for you. For one thing there are relatively boundless numbers of scammers and fraudsters out there who target the elderly. They offer you deals or “chances” that can apparently make you a lot of money overnight if you will only lend a hand with a loan that will be paid back practically immediately. Naturally you will never speak with them once again if you send them any money.
And there are others that will supply you with an “special” chance to participate the “ground floor” of a stunningly successful organisation venture. These multi-level marketing offers and Ponzi plans will string you along up until they have gotten all they can and you will be left holding the bag in the end.

Identity theft is another danger that looms big for senior citizens. It is a huge issue across all segments of society, and seniors can be especially appealing targets since they normally have excellent credit and own their own houses.
The bottom line is that there are constantly going to be dishonest types attempting to take what is not theirs. They frequently target those who they consider to be the weakest. However what they do not comprehend is that age brings knowledge together with it. There are those who fall into the traps, most seniors are clever sufficient to see them coming from a mile away. The important things to keep in mind is this: if a deal sounds too great to be true it is a scam. Nobody provides money away to strangers, and you shouldn’t either.