Elder fraud and financial exploitation has become an epidemic.
More than ever before, con artists and family members alike are taking advantage of their elderly relatives, friends, or neighbors.
Could your parents or grandparents be next?
The best defense against elder fraud is having caring friends or family with the senior's best interests at heart. But those friends and family can only prevent elder fraud if they know how to spot it — and that's what this blog post will teach you.
This post will cover five ways you can help keep your loved ones safe from elder fraud and financial exploitation. Specifically, you can:
Talk with them about their finances.
Ask them about suspicious phone calls or interactions.
Keep abreast of changes to their estate plan.
Inquire about about caretakers, helpers, or sudden "best friends."
Investigate abrupt or unexplained transfers of assets.
But before we dive in to prevention, let's cover some of the basics of elder fraud.