Episode 69: Elder Fraud — Red Flags We Shouldn’t Ignore

Host: Sidney Wheelan, Attorney & Founder of Wheelan Law Firm

Serving North Central Missouri in Moberly & Carrollton

☕ Episode Overview

In this episode, Sidney tackles a heartbreaking but increasingly common issue: elder financial fraud. Seniors — even those who are mentally sharp and capable — can be targets of manipulation, deceit, and financial exploitation. Often, the warning signs are subtle at first.

Sidney shares a powerful real-world story about a client almost taken advantage of by a seemingly trustworthy caretaker — and how vigilance and intuition helped uncover a larger scheme before it was too late.

📌 Key Topics Covered

1. A Story That Happens Too Often

• A senior client suddenly wanted to leave everything to a new caretaker.
• No proof at first — just a gut feeling something wasn’t right.
• Careful documentation, repeated confirmation, and family involvement uncovered forged checks, undervalued property sales, and a full financial exploitation plan.
• A reminder: Trust your instincts.

2. Warning Signs of Elder Financial Exploitation

Look for these red flags:

• New “friends” or caregivers becoming overly involved in finances.
• Isolation — screening calls, discouraging visits, limiting communication.
• Sudden changes to wills, deeds, or powers of attorney.
• Unpaid bills, missing funds, unusual withdrawals.
• The senior appears fearful, confused, or overly dependent on someone new.

3. Scams Targeting Seniors — Especially Around the Holidays

Common schemes include:

• Gift card scams (“Your grandchild is in trouble…”)
• Sweepstakes or inheritance scams (“You’ve won — just pay the taxes upfront”)
• Romance scams (fake online relationships for money)
• Tech support scams (fake pop-ups and virus warnings asking for access or payment)

Rule to remember: No legitimate agency will ever ask for payment via gift cards, wire transfers, or personal banking info.

4. Legal & Practical Tools for Protection

Proactive planning is the best defense:

• Bank and credit card alerts for large or unusual activity.
• Two-signature rules for major transactions.
• Trusted contacts listed on financial accounts.
• Regular reviews of wills, trusts, and powers of attorney.
• Teach tech safety: strong passwords, spotting fake emails or calls.
• Suspect fraud? Contact law enforcement, Adult Protective Services, or an elder law attorney immediately.

💬 Final Thoughts

Elder fraud doesn’t just take savings — it steals dignity, trust, and independence. It can happen in any family, at any income level. Awareness and early intervention matter.

If something feels off — ask questions, get involved, and don’t wait.

✅ Takeaway

Elder fraud doesn’t start with greed — it starts with access.

Notice the red flags early. Protect the people who once protected you.

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Until next time, grab your favorite latte, hold your loved ones tight, and have a great week! ☕

WheelanLaw.com

This podcast episode contains general information for discussion purposes only. Each case is different and must be judged on its own merits. Missouri rules generally prohibit lawyers from advertising that they specialize in particular areas of the law.  This article should not be construed to suggest such specialization. Nothing on this site should be taken as legal advice for any individual case or situation.  This information is not intended to create an attorney-client relationship, and the listening or viewing of this podcast does not constitute an attorney-client relationship.  The choice of a lawyer is an important decision and should not be based solely upon advertisements.