Wednesday, July 7, 2010


There's an extremely depressing article in today's Washington Post about the increase in financial scams against elderly people.  The report, by Dan Morse, is here.

Experts interviewed by Morse predict that the number of scams will continue to increase as America's population ages during the next several decades. 


Although the most famous recent scams have been internet-based (including the ubiquitous requests to provide your bank account information so that untold millions can be wired to you right away), there are also a number of "door-to-door" operators who take advantage of older people with offers to do non-existent repairs -- so long as payment is up-front.


One step with which an estate planning attorney can assist in the effort to avoid becoming a victim of financial fraud is a discussion about the process of selecting an agent or agents under a durable power of attorney.  As Morse points out in his article, choosing an agent who does not have one's best interest at heart can be a costly mistake.