As your parents age, you may start to get worried about them falling victim to scams and predatory tactics aimed at older people. At the Law Offices of Frye & Vazquez, P.L., we understand that age-related cognitive disorders and other issues can make Florida senior citizens vulnerable to unscrupulous people.
The American Bar Association explains that parties using undue influence against senior citizens can devastate them financially. What exactly is undue influence, you may wonder? Someone exerting undue influence may use coercion, fear and intimidation tactics to separate your elderly parents from their money or manipulate how they write their will. The following are some examples of undue influence:
- Scams promising lottery winnings or awards of money after the target pays a fee
- Cults and organizations using emotional and fear tactics to persuade the target to give them money
- Unethical financial advisors or tax preparers convincing their clients to give them power over their financial accounts
You should also know that strangers and casual associates are not the only ones to regularly use undue influence on vulnerable seniors. In fact, those the elderly know well and trust may be among those most likely to con them out of their money. Caregivers, close friends, neighbors and even family members have been known to persuade seniors into signing over power of attorney, making them the sole beneficiary of a will or giving them access to their bank accounts.
Our page on guardianships explains that in some cases, it is necessary to protect older family members from exploitation.