The Great Grandparent Scam | How To Start Important Conversations With Your Elderly Loved Ones About Various Scams & Elder Abuse.
The FBI estimates that seniors lose more than $3 billion each year to fraud.
So what happens when a beloved grandchild calls, begging for money because a bad thing happened to them. Well, you know the answer. That's why this has to be a family conversation right now.
The following is a story we've heard many, many times. The scammer will call an older person and say something along the lines of:
"Hi Grandma, do you know who this is?"
When the unsuspecting grandparent guesses a grandchild's name that the scammer sounds like, the scammer establishes a fake identity without doing any background research or doing any heavy lifting at all.
Then the fake grandchild will ask for money to solve some unexpected financial problem. Usually, it's something like:
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Overdue rent or bills
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They need their car repaired
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Or they got into trouble and are in jail and need bond
The scammer makes it seem as if their grandchild needs help immediately and is...
How Can Life be Handled With an Aging Parent and Young Kids?
It’s never easy to watch our parents get older and lose the capabilities to do certain tasks independently. It’s even harder for those whose parents have been diagnosed with Alzheimer’s disease or another form of dementia while raising a young family of your own simultaneously. Not only does this diagnosis guarantee a parent’s eventual loss of skills and independence, but it could also mean a loss of personality traits and characteristics of the person who raised them.
Below is a letter I think unfortunately many of us can relate too. Written by a member of the Sandwich Generation to sociologist and coach Christine Carter about her struggles with feeling overwhelmed, sad, and stuck.
“My mom was diagnosed with Alzheimer’s two years ago, just before I got pregnant with my second daughter. I was fortunate to have a stellar short-term therapist available through a pregnancy program at work to help me come to grips with my mom’s...
Elderly Care - 5 Things Every Adult Child of Aging Parents Needs to Know Now
This article about elderly care by Michigan estate planning and elder law attorney Nicole Wipp and the Family and Aging Law Center is not legal advice. It is for informational purposes only. For legal advice on your situation, consult with a qualified elder law attorney.
As our population ages, there’s no question: adult children are increasingly needed to assist parents in times of medical crisis or just simply during the normal aging process. Whether you are a parent reading this, or a child of an aging parent eldercare, here are FIVE things that every adult child of an aging parent needs to know – RIGHT NOW:
- The Cost of Long Term Care Is Rising. Right now, if a parent needs nursing home care, you are looking at an approximate monthly cost of $8,000 OR MORE each month. Over the next 5 years, this number is expected to increase 15%...and over the next 15 years, FORTY percent.
- Basic Estate Planning Isn’t Enough. Garden variety estate planning, such as revocable...