How to Protect Elderly Relatives from Financial Scams

Elderly people are at a
higher risk of being victims of financial scams and identity theft.
Loved ones can play a big role in protecting elderly relatives from
financial fraud.

Telemarketing scams,
particularly on landlines, remain one of the most common forms of
financial fraud against the elderly. The phone allows scammers to
develop a connection with vulnerable seniors, while still having an
escape route if things go sour.

One of the best ways to
protect elderly relatives from financial scams is to discuss your
concerns with them: let them know if you believe they are vulnerable,
and keep them updated on what scams are out there and how older
people can become victims.

Unfortunately, hired
caregivers are sometimes the perpetrators of identity theft against
elderly patients. If your relative will have a caregiver or service
person in the home frequently, think about installing a safe where
important documentation is kept. Although home care aides go through
background checks, the best way to guard against financial fraud is
to eliminate the opportunity.

To contact an estate planning lawyer at Hook Law Center, call 757-399-7506.