It may be human nature to sometimes sweep unpleasant realities under the carpet, but this is a problem that can breed itself. When things take place in the shadows that are never spoken about they can sometimes grow unfettered, making the problem worse. This is one of the challenges inherent in the problem of elder financial abuse.
These crimes take place in a shadowy area because of the fact that so many of the victims don’t want to come forward and tell anyone about the exploitation. Some of them feel embarrassed at having allowed it to happen, and others simply aren’t aware of the fact that they’ve been victimized. And because the perpetrators are often family members or other people known to and trusted by the victim he or she may keep silent to protect the abuser from prosecution.
This is one very common scenario, but now that we live in the era of information money can be transferred electronically in the blink of an eye. We all have can have access to our bank accounts and brokerage accounts online, and criminal types are well aware of this and they often target seniors with propositions intended to separate their mark from his or her money.
This is something to take very seriously, and even though you may have reached senior citizen status the same common sense that you used to avoid being victimized when you were younger is just as useful in the Internet age.
Identity theft is another plague that threatens people of all ages. However, senior citizens are especially appealing targets because they often have strong credit ratings and may not be as active managing their finances online as their younger counterparts. One very positive step would be to subscribe to one of the multiple identity guard solutions that are now being offered to monitor activities undertaken in your name.
To do everything possible to protect yourself from elder financial abuse in all its forms, you would do well to consider your legal options. To explore them, simply arrange for a consultation with an experienced, savvy elder law attorney.
Alan Augulis, Estate Planning Attorney
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