"Dear Sir, You have won $550 billion. Please contact us with all your personal information to collect." Yep, we've all received these emails, or even phone calls, and so has grandma. A group of legislators held a press conference this week to discuss legislation recently introduced to help protect grandma if she wires $500,000 to someone in India to fix her computer. SB1230 / HB810, known as the Elderly and Vulnerable Adult Protection Act, makes it a felony offense for a person to knowingly abuse, or financially exploit, an elderly or vulnerable adult. The legislators were accompanied by many district attorneys from across the state who also publicly vowed to assist in fighting this abuse.
To help protect our loved ones, we created a list of 10 Signs of Financial Elder Exploitation in our elder law article - The $3 Billion Market for Financial Elder Abuse.