BEWARE OF SCAMS TARGETING THE ELDERLY
Recently I had some elderly clients come into my office and tell me that they had an attempted scam. And I researched and found some more about this: A person who claims to be a grandson, calls on the phone and says, grandma, it’s Johnny, I’m in Memphis and I need you to wire me some money, I’m in jail, I need some help.
And grandma says, “I don’t know who you are. I don’t think you’ve ever been to Memphis.” If the grandparents are still thinking clearly, it’s not a big issue. But even then, these scam artists are pretty good because they get actual names of grandchildren, they know how to do that, and they will call and say that they are the grandchild.
Be aware of those kinds of things. If you are a senior person or if you have parents that might be subject to this, be aware that it’s a real problem.
Another one that comes up occasionally is, of course, the lottery and tax refunds.
If I have elderly clients, I’m going to warn them against those kind of scams. Too often our elderly are just so trusting and they can be taken advantage of. So we’ve got to watch out for that.
When I do estate planning, I consider the needs of each person. I take into account what the kids want but really my client is the elderly parent. Sometimes they are not aware of what their options are, what their rights are. I make sure that the interests of my clients are looked out for.