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Jun 26, 2016 by |

San Francisco Financial elder Abuse Attorneys: Parents and Financial Fraud

Protect Your Parents against Financial Fraud

As your parents age, they become vulnerable too. Therefore, they saved money their entire lives for different purposes: retirement, legacy, etc. They are the perfect target for financial fraud, one of the most prominent types of elder abuse case. Often, the culprits are one of their own, someone seniors could trust: another child, a caregiver, etc.

However, it is not a reason to lose hope; our San Francisco financial elder abuse attorneys have solutions to protect your parents against financial fraud. There are five ways to help:

  • Talk about the money: it is not easy to talk about finance, even with your parents. But the more people who know where the money is and how the money is managed, the more it will be difficult for someone with bad intentions to steal your aging parents’ money.
  • Keep an eye out: watch if the creditors are paid, check the accounts with the transfers of money. Your parents can give you and your siblings their power of attorney to have more access to their finance.
  • Educate your parents: teach to your parents how to be suspicious about fraudsters calling to inform you that you won something or get a reward. They have to keep confidential certain information: bank account number, credit card number, social security number.
  • Never sign a contract without taking a step back: the best thing to do is when your parents have to sign papers, advise them to take the contract, read and study it. They can even ask for your presence. But they don’t have to sign a contract in a rush, especially when they don’t know what they are signing.
  • Stay informed: you can read the news or sign for AARP’s Fraud Watch (a nonprofit organization), they will warn you about the scams and identity theft.
  • If you know of any elder abuse or fraud, or others, contact the Evans Law Firm at (415) 441-8669, or by email at info@evanslaw.com. The San Francisco financial elder abuse attorneys at Evans Law Firm handle financial and physical elder abuse and nursing home abuse, as well as qui tam and whistleblower cases, healthcare, insurance, annuity, and banking fraud.

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