Abuse of the elderly through fraud & deception

Hard economic times combined with a longer life-span for the nation's elderly have resulted in substantial increases in abuse of the elderly through fraud and deception. Physical infirmities and reduced mental capacity make the elderly easy prey for unscrupulous individuals who view advancing age as an invitation to their own financial prosperity. Popular fraudulent practices and devices include "bait and switch" tactics, the "pigeon drop," and the "ponzy" scheme. The unwarranted transfer of an elderly person's property to a trusted friend or family member to "reduce taxes" or "avoid probate" may represent potential abuse, which can have devastating financial consequences in later years. Very often these abuses have national and international effects as distant family members summon financial and psychological support in the aftermath of the victim's anguish over such tragedies. This article identifies some of the areas of potential abuse and addresses available means of preventing their occurrence through timely legal advice and counsel.