Financial Abuse of the Elderly
It is useful to recognize the fact that estate planning is just one aspect of elder law, and as elder law
attorneys it is our job to stay apprised of all of the issues of the day that affect our seniors. One matter
that has been getting a lot of attention recently is that of elder financial abuse, and it is something to
keep in mind when you are engaged in planning for your twilight years.
How can elders be financially abused? There are many different ways, and we will address a few of
them for you. For one thing there are seemingly infinite numbers of scammers and fraudsters out there
who target the elderly. They offer you deals or “opportunities” that can supposedly make you a lot of
money overnight if you will only lend a hand with a loan that will be repaid almost immediately. Of
course you will never hear from them again if you send them any money.
And there are others that will provide you with an “exclusive” opportunity to get in on the “ground
floor” of a stunningly profitable business venture. These multi-level marketing deals and Ponzi
schemes will string you along until they have gotten all they can and you will be left holding the bag in
Identity theft is another danger that looms large for seniors. It is a big problem across all segments of
society, and elders can be especially attractive targets because they usually have good credit and own
their own homes.
The bottom line is that there are always going to be unscrupulous types trying to take what is not theirs.
They often target those who they consider to be the weakest. But what they don't understand is that age
brings wisdom along with it. Though there are those who fall into the traps, most seniors are smart
enough to see them coming from a mile away. The thing to remember is this: if an offer sounds too
good to be true it is a scam. Nobody gives money away to strangers, and you shouldn't either.
Experienced estate planning attorneys Garden City NY of the Law Offices of Saul Kobrick P.C. offers
estate planning and business planning resources to residents of Garden City NY. To learn more about
these free resources, please visit http://www.kobricklaw.com today.