The FBI reports notable increases in fraud perpetrated against older Americans.
Common fraudulent scams reported include tech support scams, confidence and
romance scams, investment scams, and government impersonation scams. I encourage you to watch the YouTube video of William Webster, former director of the FBI and CIA as well as a former federal judge, reporting that he had been the target of a lottery scam in 2022. See the video at:
https://www.fbi.gov/video-repository/webster-scam-final-021919.mp4/view

“Elder Orphans” are persons of advanced age who don’t have anyone who they can
name as Power of Attorney or Successor Trustee. The elder orphan is considered
particularly vulnerable to confidence scams, especially if that elder does not maintain an
active social life. The scammer builds a relationship with the older individual over time,
slowly gaining their trust. Once trust is established, the scammer exploits the
relationship in a financial manner.

Protect yourself against scams with Advance Planning

1. Create a Medical Power of Attorney with HIPPA releases prior to advanced age or
diminished capacity designating a trusted contact OR a professional fiduciary and
have it made effective immediately so that you have advocacy from someone you
trust during your time of illness when you most need it. Be sure the document
accurately describes your directives for future medical care.

2. Create a Durable Power of Attorney, prior to advanced age or diminished capacity,
designating a trusted contact OR a professional fiduciary.

3. Transfer assets to a living trust that names a trusted person or a professional
fiduciary as successor trustee or co-trustee.

Diana Mangsen focuses her practice as an elder law attorney in Clearwater, Palm Harbor, Largo, Dunedin and the Tampa Bay area.

For more information, visit our website at
https://www.mangsenlaw.com/
or call (727) 888-6282.