Undue influence and financial exploitation of the elderly is on the rise with new scams and tactics. It is imperative that we become even more diligent in recognizing the signs of financial exploitation and undue influence. According to the ABA, American senior financial abuse is increasing in frequency and cost victims at least $2.9 billion last year.
Often, elder financial abuse is perpetrated by a trusted friend, caregiver or family member. It is often difficult to see it coming, until it is too. Often it is discovered after the victim has passed away and the family learns of a drastic change in the Last Will and Testament, favoring the influencer.
There are many indicators and signs to look for, if you are concerned that a loved one is being unduly influenced. The law firm of Katzman & Sugden provide a list of indicators of undue influence.