Financial Abuse of the Elderly

It works to acknowledge the truth that estate planning is simply one aspect of senior law, and as older law attorneys it is our job to remain apprised of all of the problems of the day that impact our senior citizens. One matter that has actually been getting a lot of attention just recently is that of older monetary abuse, and it is something to keep in mind when you are participated in preparing for your golden years.

How can elders be economically abused? There are lots of different methods, and we will attend to a few of them for you. For one thing there are apparently infinite numbers of scammers and fraudsters out there who target the senior. They use you offers or “opportunities” that can allegedly make you a lot of loan overnight if you will just lend a hand with a loan that will be repaid almost immediately. Obviously you will never hear from them once again if you send them any money.
And there are others that will offer you with an “unique” chance to participate the “ground floor” of a stunningly lucrative organisation endeavor. These multi-level marketing offers and Ponzi schemes will string you along until they have gotten all they can and you will be left holding the bag in the end.

Identity theft is another risk that looms large for elders. It is a huge issue throughout all sectors of society, and senior citizens can be particularly appealing targets since they typically have good credit and own their own houses.
The bottom line is that there are constantly going to be deceitful types trying to take what is not theirs. They often target those who they consider to be the weakest. What they don’t comprehend is that age brings knowledge along with it. There are those who fall into the traps, a lot of senior citizens are wise adequate to see them coming from a mile away. The important things to bear in mind is this: if a deal sounds too good to be true it is a scam. No one provides loan away to complete strangers, and you shouldn’t either.