Protecting Your Elder Loved One from Fraud and Scams

As our population ages, seniors are increasingly becoming the target of financial fraud and scams. Elder financial abuse is not only emotionally devastating but can also deplete an elderly individual’s life savings, leaving them vulnerable and without the resources they need for care. Attorney Susan B. Geffen, a respected financial elder abuse lawyer based in Los Angeles, has dedicated her practice to protecting the rights of seniors and ensuring that they are not taken advantage of financially. In this blog, we will explore how to protect your elder loved one from fraud and scams, recent scam trends, and how California law safeguards elder financial abuse victims.

Elder Financial Abuse: A Growing Problem

Financial elder abuse is a growing concern in the United States, especially in California, which has one of the largest elderly populations in the country. According to the National Council on Aging (NCOA), 1 in 10 Americans over the age of 60 experiences some form of elder abuse, with financial exploitation being one of the most common forms. In fact, financial elder abuse costs older Americans more than $36 billion each year.

California has responded to this issue with specific laws designed to protect seniors from financial exploitation. Under California’s Elder Abuse and Dependent Adult Civil Protection Act (EADACPA), individuals 65 years and older are protected from financial abuse, which includes the theft of assets, property, and the use of undue influence to gain control over an elder’s financial affairs.

Susan B. Geffen, an experienced attorney in this area of law, notes, “Elder financial abuse is a serious and growing issue that can have devastating effects on the well-being of our senior population. My practice is dedicated to ensuring that elders have the legal protection they need and that perpetrators are held accountable.”

Recent Scams Targeting Elders

Scammers are constantly devising new tactics to defraud elderly individuals. Understanding these schemes can help you protect your loved ones from becoming victims. Here are some of the most prevalent scams currently being used:

1. Medicare and Health Insurance Scams

One of the most common fraud schemes involves scammers posing as Medicare representatives or health insurance agents. These fraudsters often call seniors claiming to need personal information to issue new Medicare cards or offer additional services. Once they have the elder’s personal information, they can steal their identity or make fraudulent medical charges.

2. The Grandparent Scam

In this scam, fraudsters pose as the victim’s grandchild or another relative in distress. They typically call the elder and claim to need money urgently due to an emergency, such as a legal issue or medical problem. Many seniors, wanting to help their loved ones, unknowingly send money or provide sensitive financial information.

3. Investment Fraud

Investment fraud can come in many forms, from unsolicited phone calls to fake seminars aimed at convincing seniors to invest in “can’t-miss” opportunities. These schemes often prey on older adults who may be looking to secure their retirement savings, but instead, they end up losing their hard-earned money.

4. Tech Support Scams

Scammers often contact seniors claiming to be from reputable tech companies like Microsoft or Apple, telling them their computer has a virus and offering fake “technical support” services. These scammers typically ask for remote access to the computer and charge high fees for unnecessary or nonexistent services.

How to Protect Your Loved One from Elder Fraud and Scams

While elder financial abuse is a serious issue, there are steps you can take to protect your loved ones from becoming victims. Here are some practical tips:

1. Educate Them About Common Scams

Make sure your loved ones are aware of the most common scams targeting seniors. Encourage them not to give out personal information over the phone, internet, or by mail, especially if they did not initiate the contact.

2. Monitor Financial Activity

Regularly reviewing bank statements, credit card bills, and other financial records can help identify suspicious activity. If your elder loved one struggles with managing their finances, consider appointing a trusted family member or professional to help them oversee their accounts.

3. Use Durable Powers of Attorney

Setting up a durable power of attorney allows a trusted individual to make financial decisions on behalf of an elder if they become incapacitated or need assistance managing their finances. This legal tool can help prevent exploitation by ensuring that a responsible person is in charge of important financial decisions.

4. Stay Involved

Seniors who are isolated are more vulnerable to scams and fraud. Regular communication with family members and involvement in their day-to-day lives can reduce the risk of exploitation. Scammers often target lonely individuals, so staying connected with your elder loved one is key to their safety.

Legal Recourse for Elder Financial Abuse in California

California offers strong legal protections for elders who are victims of financial abuse. California Penal Code 368 specifically addresses elder abuse, making it a crime to exploit or financially defraud seniors. Additionally, civil lawsuits can be filed against those who commit financial elder abuse, providing victims and their families with the opportunity to recover stolen assets.

If you suspect that your elder loved one has been the victim of financial fraud, it’s essential to act quickly. Attorney Susan B. Geffen, with years of experience in elder financial abuse law, provides expert legal representation for families in Los Angeles and the surrounding areas. Her background in advocating for seniors and her in-depth understanding of California’s elder abuse laws make her an excellent ally in fighting for justice.

Why Choose Attorney Susan B. Geffen?

With over 30 years of experience, Susan B. Geffen is a highly respected advocate for elder rights in California. As a licensed attorney, gerontologist, and former elder law professor, Susan brings a unique and comprehensive approach to elder financial abuse cases. Her passion for protecting seniors has earned her a reputation as a compassionate and knowledgeable lawyer, deeply committed to her clients.

A Lawyer Who Can Help Protect the Vulnerable from Financial Abuse

Elder financial abuse is an insidious crime that often goes unreported, leaving many seniors without the resources they need to live out their lives comfortably. Fortunately, there are legal protections in place to safeguard seniors from fraud, and with the help of a skilled attorney like Susan B. Geffen, you can ensure that your elder loved one is not taken advantage of.

If you believe your loved one has been a victim of financial abuse or you want to take preventive steps to protect their assets, contact Attorney Susan B. Geffen today. She can provide the legal guidance and support needed to navigate this challenging situation and ensure your loved one’s financial safety.