Category: Advice

Financial scams targeting seniors are, unfortunately, all too common. As the older population grows, so does the number of unscrupulous individuals looking to take advantage of their hard-earned savings. Seniors may be more susceptible to these scams due to factors like loneliness, a willingness to trust, or a lack of knowledge about technology. This blog post will explore some common financial scams targeting seniors, warning signs to look out for, and steps you can take to protect yourself and your loved ones.

Common Financial Scams Targeting Seniors

Scammers use various tactics to target seniors. Here are a few of the most prevalent scams to be aware of:

1. Telemarketing Scams

Scammers may call seniors, pretending to represent a charity, a well-known company, or even a government agency. They may ask for personal information, such as Social Security numbers or bank account details, or request immediate payment for a fake product or service.

2. Email and Phishing Scams

Phishing scams involve sending fraudulent emails that appear to come from legitimate sources, like banks, credit card companies, or government agencies. These emails often ask recipients to click on a link or provide personal information, potentially leading to identity theft or financial loss.

3. Lottery and Sweepstakes Scams

In this type of scam, seniors are told they’ve won a lottery or sweepstakes but need to pay a fee or provide personal information to claim their prize. This is merely a ploy to steal money or sensitive data.

4. Grandparent Scams

Scammers may call seniors, pretending to be a grandchild in distress who needs money immediately. They often rely on the senior’s emotions and urgency to keep them from verifying the situation.

5. Romance Scams

Seniors using online dating platforms may be targeted by scammers who create fake profiles, form a relationship with the senior, and eventually ask for money for various reasons.

Warning Signs of Financial Scams

Recognizing the warning signs of financial scams can help protect you and your loved ones. Some red flags include:

• Unsolicited phone calls or emails asking for personal or financial information.
• Requests for immediate payment or to wire money.
• Pressure to make quick decisions without time for research or consultation.
• Offers that seem too good to be true or require upfront fees.
• Inconsistent or suspicious behavior from online contacts.
• How to Protect Yourself and Your Loved Ones

To safeguard against financial scams targeting seniors, consider implementing the following measures:

1. Educate Yourself and Your Loved Ones

Learn about common scams targeting seniors and discuss these issues with your loved ones. Open communication can help raise awareness and ensure everyone is prepared to recognize and avoid scams.

2. Safeguard Personal Information

Never share personal or financial information with unsolicited callers or emailers. Keep sensitive documents secure, and shred any unneeded documents containing personal information.

3. Verify Information

Before providing information or making payments, verify the legitimacy of the organization or individual. Research the company online, check for reviews, or consult with friends, family, or professionals.

4. Use Technology Wisely

Install antivirus software on your devices, use strong passwords, and keep software up-to-date. Be cautious with online dating and social media platforms, and avoid sharing too much personal information.

5. Report Suspicious Activity

If you or a loved one suspects a scam, report it to local law enforcement, the Federal Trade Commission (FTC), or your state’s consumer protection agency. Reporting can help protect others and potentially stop the scammers.

Contact Beasley & Ferber for Trusted Legal Advice

Financial scams targeting seniors can have a devastating impact on your hard-earned savings and your peace of mind. At Beasley & Ferber, our experienced elder law and estate planning attorneys are dedicated to helping you protect your assets and secure your financial future.

If you or a loved one have concerns about financial scams or need guidance in asset protection planning, don’t hesitate to contact us today. Our team is ready to answer your questions and provide the support you need to make informed decisions about your financial and legal needs.

According to a recent article in Forbes, more than 90 percent of elderly people who were surveyed express the intent to remain living in their own homes as they age and are committed to never moving. This is true even if it means living alone after a divorce or the death of a spouse. Unfortunately, that is not always possible.

Signs Your Parent Should No Longer Live Alone

There comes a time when no matter how much your elderly parent wants to remain living alone, it is no longer feasible for them to do so. A few signs that they need help are:

• They exhibit personality changes such as getting angry easily, or being withdrawn and silent or lashing out.
• Forgetting to take their medications.
• They have trouble paying their bills.
• They neglect their personal care demonstrated by not brushing their hair, not getting dressed appropriately, and forgetting things like eating.
• They can no longer use their computer and have trouble even with their phone.

If this is happening to your elderly parent, it is time to have a serious discussion with them about making a change.

Tips on How to Discuss Living Options with Your Elderly Parent

It is not easy to talk to your parent about making a change in their living environment when they belligerently refuse to move from their home and give up living alone. SeniorSafetyAdvice, an online information resource for seniors and their caregivers, offers some suggestions for discussing this touchy subject with your loved one:

• Listen to your parent’s point of view. Treat them like an adult. Do not talk down to them as though they are children. Understand why they are so resistant. Are they simply afraid to move and fear they will be giving up control of their life? Give them time to consider your suggestions.
• Give your parent a sense of control over deciding how the family will cope with the changes that need to be made. Don’t argue with them but be firm and calm. If possible, give them choices. For example, do they need grocery delivery, meals-on-wheels, or an in-home health aid? Do they need an assisted-living environment?
• If they can be convinced to do so, include them in the research about what to do next. Will they need to move or is it more feasible to have a caregiver move in with them?
• If moving seems like the only option, focus on the type of place that will meet their needs, not a place that you think would be wonderful for you if you were in their situation.
• Be firm about discussing with them the potential consequences of them continuing to live alone.

Contact Beasley & Ferber for Assistance

After you’ve had your thoughtful discussion with your loved one, make an appointment with Beasley & Ferber. We are here to help with all things related to elder law and will discuss with you options for care for your elderly parent who can’t or should no longer live alone.

Dementia and, in particular Alzheimer’s Disease, get a lot of attention in the media. So much so, that when an elderly loved one starts to exhibit memory loss, dementia is the first thing that occurs to family members and close friends. This can be a misleading and dangerous thing to assume for many reasons. First, no one should be casually diagnosed with a medical condition without professional input. Second, it’s unfair to a person to be categorized with a condition when no such professional diagnosis has been made.

Important Differences Between Dementia and Age-Related Memory Loss

There are distinguishable differences between dementia and simple age-related memory loss that need to be understood. Dementia is a physical symptom of a physical condition. Alzheimer’s is just one disease that has dementia as its most prevalent symptom. Dementia is a disabling condition that progresses and worsens over time, often to the point where a person forgets who they are or who their family members are.

Age-related memory loss is something that happens to almost everyone over a long enough period of time. It is typically minor and not debilitating. People with age-related memory loss may repeat themselves, or forget why they came into a room, but they can usually still take care of themselves and recall earlier life events.

Dangers of Casually Diagnosing a Person With Dementia

When a person is casually diagnosed with dementia without having received a professional diagnosis, all sorts of estate planning problems can occur. The first one is the assumption that the person is not able to make sound choices about their estate. Later on, once the estate plan has been documented and executed, the person may balk at certain aspects that don’t align with their true wishes. Not only does this lead to family discord, but it also necessitates beginning the entire legal process over again, which is timely and costly.

Why a Professional Diagnosis is Essential

Establishing diminished mental ability is essential before a family member or anyone else can legally make decisions on behalf of someone else. In most cases, a court order is also needed. There is a great deal of grey area around estate planning for those with dementia, and that grey area is even bigger if a person attempts it without first having a professional diagnosis. If the professional diagnosis comes back with unexpected results, the plan could be negated. If the diagnosis affirms the suspected dementia, then the estate plan needs to be organized in such a way as to accommodate the expected increased needs of the dementia patient. Either way, it’s not just prudent to get the professional diagnosis first; it’s essential.

The very fact that family members are concerned about a loved one’s mental state is often a good sign that they have that person’s welfare in the right perspective. Working with an established elder law attorney in New Hampshire can help to ensure that the loved one’s estate is properly planned. Contact Beasley & Ferber today for more information.

When you put your elderly loved one in the care of a facility, you expect them to be looked after. But one in 10 people aged 60 and over in the U.S. has experienced some type of elder abuse, according to the National Council on Aging. You can help your loved one by paying attention to the following five telltale signs.

1. Becoming Unusually Quiet

During visits with your elderly loved one, do they become unusually quiet when a caregiver enters the room? Often, an elderly person will react instinctively when they are afraid of someone. This may include suddenly stopping in the middle of a sentence, or refusing to answer your questions when an abusive caregiver is present. When that person has left, your loved one may become their usual chatty self.

2. Unwarranted Anger

Often, the elderly will lay blame for abuse on their loved one’s shoulders, especially if they feel that it’s this person’s “fault” they are there in the first place. If you sense unwarranted hostility during visits, don’t assume it’s just because of old age or senility. It could be that they are reacting to feelings of anger and frustration over being treated poorly by those who are supposed to be caring for them.

3. Sudden Decline in Health

Elder abuse doesn’t always take the form of physical or verbal abuse. It can also come in a more passive form of withholding care. This sometimes means that an elderly person isn’t given their medications or isn’t given them on the correct schedule. If you notice a sudden or progressive decline in health, don’t accept it at face value. It could be that their doctor’s orders aren’t being followed. Any deterioration in health should be followed up with a visit to your elderly loved one’s personal physician—not just the care facility’s doctor. An independent assessment by a doctor who is not associated with the care facility can determine whether a lack of care and/or medication might be the cause.

4. Uncleanliness in the Room

When you visit, pay attention to the condition of the room and the things that your loved one uses. Are the sheets and pillowcases clean? Is there clean water within reach? Is the room tidy? Is the toilet clean? If the care facility isn’t taking care of the physical room, it’s likely that they aren’t taking care of your loved one, either.

5. Lack of Eye Contact

When elder abuse is happening in a care facility, human nature often means that the staff will be hesitant to make eye contact with visiting relatives. It’s the inside guilt that makes this phenomenon happen. A lack of eye contact can mean nothing, or it can mean that they have something to hide.

When trying to determine if elder abuse is happening, consider a group of signs, not just one. One sign might just be an oversight, but if you notice multiple signs, it’s worth consulting with an elder law attorney to determine the best steps to take. Contact Beasley & Ferber for help.

Talking to a loved one about end-of-life care is one of the hardest discussions to have. Whether it’s your elderly parents, an older relative, or someone else dear to your heart, it can feel cold and callous to broach the subject of the end of their life. Ironically, it’s because you love them so much that you need and want to have the talk in the first place. Your elderly law attorneys at Beasley & Ferber have these tips to help you with this arduous task.

Choose Your Time and Setting

Choose an appropriate time and setting that supports both you and your elderly loved one’s needs and privacy. Avoid bringing up the topic at breakfast or too close to bedtime, when people might be tired. Choose a quiet place, away from the public eye. Avoid having it in a restaurant or in a doctor’s lobby, for instance.

Be Patient

Don’t be surprised if your loved one resists the talk the first time you bring it up. Some people just need more time to process actually saying things like this “out loud.” Be patient and don’t push. When you see them next, you might just ask, “Have you given any more thought to our conversation about care last week?” or something similar.

Consider Who Should be Part of the Discussion

Don’t feel that you need to have this discussion all by yourself. Consider inviting siblings or a trusted family member. Only do so with the permission of your elderly loved one, however.

Don’t be Condescending

Everyone passes away, and it’s almost guaranteed that, as awkward as it may feel to broach the topic, your elderly loved one has already thought about their own passing. Avoid using placating words or a tone that sounds like you’re talking to a child. Approach it like two adults having an important conversation about life events.

Start With Yourself

Many people find that it’s quite helpful to start the conversation by mentioning what you would want to happen when you yourself become elderly. Then it’s a natural step to ask your loved one if they have thought about end-of-life care. From there, you can suggest writing things down on a notepad and making some preliminary plans.

Keep Things Light

It’s natural that this discussion will feel heavy and dark. But feel free to add some levity if it feels appropriate. Depending upon your relationship, some smiles might help to keep things from becoming too maudlin.

Have Some Ideas in Mind

It’s helpful to gather some information ahead of time so you can help to guide the discussion. This is good for—not forcing a set of circumstances—but assuring your elderly loved ones that they are in capable hands. One very helpful suggestion that you can make is to take your notes to an experienced elderly law attorney who knows how to help with all things associated with end-of-life care, such as Beasley & Ferber.

Contact Beasley & Ferber

After you’ve had your thoughtful discussion with your loved one, make an appointment with Beasley & Ferber. We are here to help with all things related to elder law, including end-of-life care plans.

The Elder Financial Protection Organization (EFPO) reports that financial abuse is the “largest form of elder abuse, and it is growing.” The short definition of elder financial abuse is “Misappropriation of an older person’s money or property.”

Sadly, the most frequent perpetrators are those the elder one trusts, such as caregivers, friends, and family members. If you are concerned about a loved one being financially abused, there are some signs to watch for.

Signs Someone You Love is Being Financially Abused by a Relative or Caregiver

Some signs that your loved one is being financially abused include:

• A relative has moved in with your loved one to “help out.” You then notice the loved one is becoming isolated and interactions with other loved ones are being limited.
• The relative who is “helping out” has quit their job, bought a new car, or any other sign that there has been a change in lifestyle or that the person is spending more money than they did in the past.
• When the “helper” allows you to visit, your loved one is withdrawn and may appear unkempt. You sense that the basic life necessities are not being provided for.
• Routine bills, like rent, mortgage, and utility bills, are not being paid for even though you know your loved one has the funds to pay them.

A “do-gooder” may offer to go to the grocery store for the elderly person who doesn’t notice that the grocery bill was much higher than it should be for the items that were requested.

If the do-gooder helps pay bills or stops at the bank to cash a check, when the elderly person is checking the bank statement later, they may just say to themselves that they are getting forgetful since they don’t remember withdrawing that much money.

How to Protect Yourself from Financial Abuse

You can take some specific steps you can take to prevent yourself from becoming a victim of financial abuse. Some examples are:

• Have direct deposit for all your benefit checks. If you send someone to deposit your checks, it gives them the opportunity to get cash back without you even being aware of it.
• Have your bank automatically pay your routine bills.
• Do not allow one family member to isolate you from other family members and friends.
• Open your own mail.
• Have your own attorney draw up a power of attorney so you can designate someone you know you can trust to deal with your finances when you are unable to deal with them yourself. Review the document periodically to be sure it still reflects your wishes.
• Do not sign any document presented to you by anyone without carefully reviewing it and asking for independent advice.

Contact Us for Assistance with Elder Financial Abuse

If you or someone you care about has been the victim of elder financial abuse, contact us at Beasley & Ferber. We provide the best available resources to protect our clients from abuse and to help them prepare for their financial future. You may contact us online or call us at 800-370-5010.