Senior Scams Series – Intro

Author: Wolfe Ossa LawCategories: Elder Law

Senior Scams Elder Fraud

Senior Scams are becoming more and more prevalent in America, because the sad truth is, they work. Billions of dollars are lost every year.

Seniors are often tricked into giving credit and debit card information over the phone in order to pay for medications, donate to charity, pay for services they never received, or even bail their “grandchildren” out of “jail”. You can learn more about that, here.

Phone and internet scams are common, but it’s also very common for seniors to be tricked out of money is by their loved ones. Sometimes this is a stranger that becomes a friend or more and takes advantage. This person sometimes asks for money or gifts, but can also influence the senior into naming them as power of attorney or as a beneficiary in their Will. One of the main reasons why having a trust can be the most important Estate Planning tool.

The more we learn about the scams the more capable we are to stop them. If you suspect a loved one may be being scammed or falling victim to elder fraud, contact Adult Protective Services, immediately. It’s important to educate yourself and your loved ones to avoid falling victim to these senior scams. Our upcoming Senior Scams Series will discuss some of the scams our clients have come to us with for help. Check in next month for our opening entry, The Gold-Digging Granddaughter.

 

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