It is often assumed that the elderly are vulnerable to financial fraud and may need protection to avoid becoming victims of increasing fraud and online scams.
A recently reported case of one 75-year-old elderly lady who deliberately participated in fraud revealed that such vulnerability extends beyond gullibility and can extend to the desire for "quick and easy profits". So imagine if she had owned assets or money, her unexpected vulnerability would have exposed herself and possibly even her own family to financial fraud.
Children of elderly parents can take proactive action to protect their elderly parents' estate by introducing them to placing their assets and money in trust arrangements to safeguard them for the family and succeeding generations. What better legacy can an elderly leave behind instead of front-page news headlines that bring embarrassment and shame.
Comments