It works to acknowledge the reality that estate planning is just one aspect of elder law, and as older law lawyers it is our task to remain apprised of all of the concerns of the day that impact our seniors. One matter that has actually been getting a great deal of attention recently is that of senior financial abuse, and it is something to remember when you are participated in preparing for your twilight years.
How can seniors be financially abused? There are various ways, and we will attend to a few of them for you. For something there are relatively boundless varieties of scammers and fraudsters out there who target the senior. They use you deals or “chances” that can apparently make you a lot of money over night if you will only help with a loan that will be paid back practically right away. Obviously you will never ever speak with them once again if you send them any money.
And there are others that will supply you with an “special” opportunity to get in on the “ground flooring” of a stunningly profitable company venture. These multi-level marketing offers and Ponzi plans 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 danger that looms large for seniors. It is a big problem across all segments of society, and seniors can be particularly attractive targets because they usually have good credit and own their own houses.
The bottom line is that there are constantly going to be unscrupulous types trying to take what is not theirs. They often target those who they consider to be the weakest. However what they don’t comprehend is that age brings knowledge along with it. There are those who fall into the traps, many senior citizens are smart sufficient to see them coming from a mile away. The thing to keep in mind is this: if an offer sounds too great to be true it is a scam. No one provides cash away to strangers, and you should not either.