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Financial exploitation is common with the elderly

On Behalf of | Jan 9, 2020 | Estate And Probate Litigation |

Do you worry that someone used undue influence to exploit your elderly loved one and got them to change their will? Undue influence is often just a type of manipulation. The person convinces the elderly person that they want to change their will and pressures them into doing so.

Maybe you thought that all of the money would go to you, as a direct heir, and to your sibling. Instead, when the will was read, you found out that your parent left a third of the money to a caretaker. While you always liked the caretaker, and they were helpful while your parent was still alive, you now think that they used that position of power to manipulate your parent for their own gain.

The unfortunate reality is that this does happen, and it’s more common than many people realize. In fact, studies have shown that 20% of people who are 65 and older are victimized by financial exploitation. That’s one out of every five people in the age group.

Granted, undue influence is only one type of financial exploitation. You also need to watch out for fraud and scams. These things often target the elderly, especially if a cognitive decline means they will not see the warning signs or will not understand how they are being taken advantage of.

If you think that any of this happened to your parent, harming them and the rest of your family during such a vulnerable time, you need to make sure you understand exactly what steps you can take and what legal options you have.

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