There are two major reasons why senior citizens are often the target of financial abuse. First, people assume they are not always lucid enough to recognize potential scams. Second, many of them have sizable retirement funds, making large amounts of cash easily accessible. An elder law attorney lists some of the most common scams that aging individuals — and those who manage their financial affairs — need to beware of.

Watch Out for These 3 Scams That Target the Elderly 

1. Fake Emergencies 

People often prey on a senior’s sense of duty to his or her family. One of the most common scams is the phony accident ploy. The con artist will obtain the name of one of the victim’s children or grandchildren and then call and claim there has been an accident or an arrest. The scammer will tell the victim that his or her relative needs money immediately to receive medical care or get released from jail. 

2. Fake Charities 

People often solicit money from the elderly for fraudulent charities by calling their homes and acting as telemarketers. This scam is especially common following natural disasters. Tell your aging loved ones never to donate over the phone. If they feel especially strong about a particular cause, encourage them to get the charity’s name and website so you can review its legitimacy before helping them donate through a safer portal. 

3. Fake Grandchildren 

Posing as a grandchild over the phone is one of the simplest and most devious ways to con a senior citizen. This scam requires no research whatsoever. A scammer can easily call an elderly person and say something like, “Hi Grandpa, do you know who this is?” Once the victim guesses a name, the con artist will run with it and ask for money for some emergency, like overdue rent, car repairs, or medical bills. 

Sadly, strangers are not the only ones who try to cheat the elderly out of their life savings. An experienced elder law attorney knows firsthand that family members can have less than honorable intentions when managing a loved one’s financial affairs. If you think a relative or caregiver is not looking out for your aging loved one’s best interests and you want to intervene, or your senior family member was recently a victim of a money scam from a stranger, turn to Stuart R. Norman Jr. for unparalleled legal service. Based in Jewett City, CT, this seasoned lawyer has been protecting clients and their families for more than 40 years. Visit his website to learn more about his approach to practicing law, or call (860) 376-0069 to schedule an initial consultation with an elder law attorney today.