Resources
Elder Financial Exploitation and Scam Prevention: What Families Need to Know
By: Sally Brewer
As National Elder Law Month comes to an end, a time dedicated to raising awareness around the legal needs of older adults and their families, we are highlighting a significant issue facing this population today: financial exploitation. Our estate planning team regularly works with clients and families navigating the impact of scams, and often sees how important awareness and prevention can be.
While proactive planning is a critical line of defense, it can become increasingly difficult during the early stages of cognitive decline. Individuals experiencing subtle memory loss, mild confusion, or changes in judgment may find it more challenging to manage account security and maintain passwords. Recognizing sophisticated phishing attempts and verifying the legitimacy of unfamiliar calls, emails, text messages, or online requests for information can also become more difficult.
Older adults have the right to make decisions about their lives and finances. However, when a loved one begins to show signs of impaired judgment, depression, or early-stage dementia, it is important to remain proactive, particularly for those who may be more isolated or lack a strong support system.
Frequently Asked Questions
What is elder financial exploitation?
Elder financial exploitation occurs when an older adult’s funds, property, or assets are misused or taken without proper consent. This often involves scams, fraud, or manipulation.
Why are older adults more vulnerable to scams?
Factors such as cognitive decline, isolation, and changes in judgment can make it more difficult to recognize and respond to fraudulent activity.
How does early-stage dementia increase risk?
In the early stages of dementia, individuals may experience memory lapses and difficulty managing complex tasks, such as tracking passwords or verifying communications.
What are common warning signs of financial exploitation?
Warning signs may include unusual financial transactions, sudden changes in spending habits, confusion about finances, or increased contact with unfamiliar individuals requesting money or information.
When should families take action?
Families should begin paying closer attention when they notice signs of impaired judgment, memory changes, or increased vulnerability. Early conversations and planning can help prevent more serious issues later.
Early awareness and thoughtful planning can make a meaningful difference. If you have questions about protecting a loved one or would like to discuss these issues further, our elder law team is here to help.
Sally Brewer is an elder care paralegal and has served as a professional care advocate for over 30 years. She often assists with matters related to elder law — such as wills, powers of attorney, and conservatorships — as well as care advocacy, dementia consultation, navigating long-term care services and supports, and Medicaid/Veterans benefits attainment. For more information on her experience, visit Sally’s bio.
Rebecca Miller is a member of the estate planning section at Chambliss and one of only a handful of Certified Elder Law Attorneys in the region, as certified by the National Elder Law Foundation. She uses her knowledge and expertise to give families peace of mind during some of life’s most difficult moments. She works with clients in both Tennessee and Georgia on elder law and special needs planning and care coordination, as well as solving disputes involving large estates and complicated assets. Clients count on her to guide them through conservatorships, both contested and uncontested, sometimes advising on whether a conservatorship is even necessary and who might be ideal to appoint. For more information on her experience and practice, visit Rebecca’s bio.
