Protecting Yourself From Common Elder Scams: The Grandparent Scam

Learn about common elder scams to look out for in this new blog series

As we get older, it's especially important to remain aware about scams targeting seniors. Elder scams are on the rise, preying on the vulnerability and trust of older adults. These scams come in various forms, from fraudulent investment schemes to identity theft. As an estate planning firm dedicated to protecting our clients' interests, it's important to shed light on these common elder scams and provide strategies to safeguard against them. Here’s one of five scams to watch out for.

The Grandparent Scam: In this scheme, fraudsters impersonate a grandchild in distress, claiming to be in trouble and in urgent need of financial assistance. They often rely on emotional manipulation to convince seniors to send money quickly. Encourage your loved ones to verify the caller's identity by asking personal questions that only their grandchild would know. Advise them to contact other family members to confirm the situation before taking any action. 

Being aware of common elder scams is essential for safeguarding your financial and emotional well-being. By staying informed and adopting preventative measures, seniors can protect themselves against exploitation and fraud. At the Harris-Pero Law Firm, we are committed to empowering seniors and their families with the knowledge and resources they need to navigate the complexities of estate planning and financial management securely. If you or a loved one have concerns about elder scams or financial exploitation, don't hesitate to contact us for guidance and support.