Elderly people are particularly vulnerable to fraud, scams and other attempts to take their money. Potential scammers can include strangers, nursing home workers, friends of the family and even close relatives. They might convince your Texas loved one to send them money, invest their money in a certain way or rewrite their will to give them a larger share of their assets.
What are some signs of elder fraud?
If your loved one has made any strange financial decisions lately, they might be a victim of elder fraud. You might notice that they’ve withdrawn a large amount of money from their bank account for seemingly no reason or given away some of their personal belongings. Valuable items like jewelry, art or collectibles might start disappearing from their house.
You might also notice that they’ve made sudden and unexplainable changes to their estate plan. For example, they might have given a complete stranger a power of attorney or made a different relative the executor of their will. They might have even rewritten their will for no apparent reason. If you ask them what’s going on, they might be strangely reluctant to talk about their finances.
In some cases, your loved one might not understand what’s going on. They might tell you that money has disappeared from their bank account or that someone gave them false advice about investing their money. You can hire an elder fraud attorney if you suspect that someone has taken advantage of an elderly relative.
Could you talk to an attorney on your loved one’s behalf?
If your loved one doesn’t realize that they’ve been scammed, they might not see a reason to pursue legal action. Fortunately, you could talk to an attorney about pursuing a case on their behalf. Even if you’re not positive that they’ve been defrauded, you could talk to an attorney about any suspicious behavior that you’ve noticed recently.