Financial Abuse Of The Elderly

Financial Abuse Of The Elderly

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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 the end.

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.


About the Author:
Saul Kobrick is an attorney licensed to practice law in the State of New York and the owner and founder of The Law Offices of Saul Kobrick, P.C. For more information on elderly and other estate planning services, visit our website.



Article Originally Published On: http://www.articlesnatch.com


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