Chayet & Danzo, LLC Chayet & Danzo, LLC www.Coloradoelderlaw.com
Call for a Free Initial Consultation
Direct303-872-5980
Toll-Free 1-888-472-1088
Email Us
Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

Retirees should be aware of scams targeting senior citizens

An ideal retirement involves a bank account or pension plan that can allow a person to benefit from years of hard work. Unfortunately, criminals and schemers are too often trying get the money that older people have spent a lifetime earning. According to MetLife, people over the age of 60 are losing almost $3 billion every year because of financial abuse. One expert on fraud has stated that people swindling retirees are often family members, friends or neighbors. For Colorado families interested in the long term care planning of their aging loved ones, it may help to be aware of some of the most common schemes.

The first scheme to watch out for involves advanced fees in which a fraudster will try to get a victim to pay for something that was not ordered. Inheritance scams and lottery scams are common in this category. For example, a caller might tell the victim that he or she has won a large amount of money or is entitled to a large inheritance. In order to receive the money, however, the victim must first provide fees for things such as taxes or insurance.

Another scam involves a caller that poses as a person's grandchild. The caller will sometimes claim to be in a foreign country and in desperate need of money. They will ask the senior citizen to wire them money while begging them to not contact their parents.

Older people are also unfortunately susceptible to technology-related scams. By posing as a representative from Microsoft or Apple, a scammer can trick an older person into logging onto a website that steals personal information. Other scams can involve time shares, house repairs or medical equipment. The most important thing for retirees and aging people to remember is that it's very dangerous to give out personal information over the phone. Help should be sought before giving any money to an unknown caller, either from law enforcement or an experienced attorney.

Source:  greenvilleonline.com, "Watch out: 7 scams that target retirees" Rodney Brooks, Jan. 14, 2014

No Comments

Leave a comment
Comment Information

Watch Our Firm Video

We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

View More Videos

Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Phone: 303-872-5980
Fax: 303-355-8501
Denver Law Office Map

Edwards Office
105 Edwards Village Blvd.
#D-201
Edwards, CO 81632

Toll Free: 888-472-1088
Fax: 303-355-8501
Edwards Law Office Map

Aspen Office
600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

Toll Free: 888-472-1088
Fax: 303-355-8501
Aspen Law Office Map

  • Rated by Super Lawyers Macro Chayet SuperLawyers.com
  • Rated by Super Lawyers Frank J. Danzo, III  SuperLawyers.com
  • Member National Academy of Elder Law Attorneys, Inc. TM
  • Avvo Rating 10.0 Superb Top Attorney Elder Law
  • 2015 Five Star Professional Wealth Manager Multi-Year Winner
  • Our new 2015 Medicaid Book: how to protect your Family's Assets from devastating nursing home costs
  • Proud Sponsor 2015-Denver Colorado Senior Law Day
  • Peer Review Rated For Ethical standards & Legal Ability TM Martindale Hubbell
  • Haystack