08 Jan 7 Ways Kansas Family Caregivers Can Shield Aging Loved Ones from Scams
Have you ever worried about your loved ones falling victim to scams? Unfortunately, financial exploitation targeting seniors is on the rise, and family caregivers in Kansas play a crucial role in protecting their aging relatives. If you are a caregiver, you can take proactive steps to safeguard your loved ones from scams.
We know you may have questions and we want to be able to help you. This blog highlights seven actionable strategies to protect elders from financial exploitation and maintain their financial security. By implementing these steps, you can help ensure your loved ones’ peace of mind and financial stability.
- Educate about common scams. Knowledge is power. Familiarize yourself and your loved ones with common scams, such as lottery frauds, impersonation calls, and phishing emails. Discuss the tactics scammers often use and remind them to stay cautious about unsolicited requests for money or personal information.
- Secure personal information. Ensure sensitive information, such as Social Security numbers and bank details, is stored securely. Advise your loved ones not to share personal information over the phone or online unless they are confident about the recipient’s authenticity.
- Monitor financial accounts regularly. Keeping a close eye on financial accounts can help detect suspicious activities early. Review bank statements and credit card transactions regularly to identify unauthorized charges or withdrawals.
- Set financial safeguards. Consider setting up automatic bill payments to reduce the need for manual transactions. Enable two-factor authentication on all online accounts to add an extra layer of security. If necessary, limit access to cash or credit cards to prevent large withdrawals.
- Establish legal protections. You can work with your Kansas estate planning attorney to establish legal tools like a durable power of attorney. Your attorney can help you create the legal planning tools you need and find a trusted individual who can oversee financial matters and intervene if they notice anything suspicious.
- Use trusted contact alerts. Encourage your loved ones to set up trusted contact alerts with their financial institutions. This feature notifies a designated person if unusual account activities occur, providing an extra layer of oversight.
- Foster open communication. Create a supportive environment where your loved ones feel comfortable discussing financial concerns. When you choose to have regular conversations, you can help them recognize and report potential scams before it is too late.
We know this blog may raise more questions than it answers. Our team at Generations Estate Planning & Elder Law, LLC is dedicated to providing solutions for the elderly, the disabled, and their families. No matter what your situation, we are here to listen to the needs of our clients and provide information, advice and most importantly, support. We would love to speak with you and help answer your legal questions. Do not hesitate to call us at 620-662-2905 to schedule an initial consultation.
These materials have been prepared by Generations Estate Planning & Elder Law, LLC for general informational purposes only and are not intended and should not be construed as legal advice or legal opinion on any specific facts or circumstances. Every case is unique. The information contained herein is not intended to create, and receipt of it does not constitute, a lawyer-client relationship nor is it intended to substitute for the advice of an attorney. Readers should not act upon this information without seeking professional legal counsel.
