Financial Abuse of the Elderly
Fraud and financial exploitation of our nation’s seniors is a growing problem. Scams can deplete the savings of a senior at the worst possible time in their life and the damage can be devastating. Sometimes the perpetrator is someone you know and trust, like a family member or friend or even a caregiver from a nursing home or home health agency. Also there are many unscrupulous salesmen who target the elderly with fraudulent or inappropriate investments or take advantage of a person’s diminished capacity in times of illness.
Common types of scams affecting the elderly
- Caregiver fraud
- Inappropriate investments including:
- Reinvestment of Retirement Income
- Long-term Annuities
- Reverse Mortgages
At Rosen & Spears, we have experience in understanding the complexities that may be hidden in the many contracts and documents involved in financial abuse. If you or someone you know has fallen prey to one of these scams, contact our office to see if we can help you.
*This AARP website contains helpful tips on how to identify and avoid scams.