Too much of my practice still revolves around protecting families from Elder Abuse. And sadly, that‘s true for many of my colleagues. It is a growing epidemic and prays upon some of our most vulnerable. It is growing because here in the Bay Area we have a large population of seniors, many of whom have financial resources to be taken. A client hired me last year because her sister had lost over $800,000 to a Lottery Scam! As a result, she almost lost property to foreclosure and her financial future is not nearly as bright as it once was.
In April I gave a webinar on this topic to a senior living facility to educate their residents on what to look out for. There are too many scams to cover everything in this short space, but things to look for are unpaid bills and secrecy. Are regular household bills suddenly not getting paid? Is a parent or loved one suddenly a little bit secretive about actions? Often scammers trick seniors into sending Money Grams. These are two of the red flags we often see together.
So help spread the word and let’s all try to at least slow down Financial Elder Abuse in 2021.