Most of us prefer the Norman Rockwell, romanticized ideal of a loving family gathered around a bountiful dining table on a cheerful afternoon. But the reality is, few families fit this image all the time. And, as time moves on, people grow and change. Their life circumstances might take a turn that makes them needy, even desperate. It could lead them to begin looking upon vulnerable family members as prey.
Don’t let this happen to you. If you feel that someone is taking financial advantage of you, they probably are. Turn to a trusted third party for support and assistance.
It can be difficult to acknowledge. No one wants to believe that a beloved granddaughter may be stealing cash for an addiction. Or that a son-in-law might be pressuring your daughter to take “their fair share” of your assets. Unfortunately, it happens every day throughout the United States. And, it’s nothing to be ashamed of. They’re the ones acting badly; not you.
Financial abuse of seniors is on the rise. It can be very stealthy. It often starts slow, and increases gradually over time. As the old saying says, “trust, but verify” when family members come with their hand out, or if you are beginning to see changes in bank or cash reserves. And always reach out to a trusted, neutral ally, such as your attorney, CPA, or financial advisor, for backup.