Unfortunately, experts who know about the problems surrounding elder abuse think that this problem is getting worse. Advisors, such as attorneys, might want to consider and be aware of his or her client’s mental capacity. An attorney might want to do this to ensure that his or her client does not become vulnerable to abuse or fraud. Of the people who were surveyed as part of this study, the experts stated that more than half handle elderly people who are victims of investment fraud. What makes this more troubling is that experts listed that they handle this problem either “quite often” or “somewhat often.”
See Gil Weinreich, Swindling the Elderly: A Real and Growing Problem, AdvisorOne, June 13, 2012.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
