Elder abuse refers to intentional or neglectful acts by a caregiver or associate of an elderly individual, which causes harm.[1] Financial elder abuse occurs when a trusted friend or family member obtains access to a senior’s financial accounts and uses the assets therein for personal gain. Unfortunately, this abuse is widespread in the United States and can happen to anyone, even the legendary creator of Marvel Comics, Stan Lee. In December Stan Lee turned 95 years old. Although he remains in good physical health, Stan Lee, and his reported $50 million estate, became a prime target for elder abuse following the death of his wife, Joan Lee, last year.…
-
-
Beware of the Summertime Grandparent Scams
With school out and college kids exploring the world, so-called “Grandparent Scams” are on the rise. These insidious scams prey on the reputation of grandparents as willing to help their grandchildren and the possibility that their memories might be weakened by age or illness. Elder abuse scams, like this one, result in over $35 billion lost each year. How they work: Scammers employ several methods to find their victims. Stereotypically old-fashioned names in a phone book are used as targets, as well as folks on lists for certain publications or services that cater to the elderly. Once the…
