As people age, it is normal for them to begin to take their estate plans more seriously. Many people involve their families in their estate planning process. Involving the family can help everyone understand what to expect when a loved one passes.
If you have an aging parent or loved one but worry about others financially exploiting him or her, you may be able to make an argument for undue influence.
Common victims of undue influence
Most victims of undue influence are adults over the age of 70. Typically, manipulators will target elderly adults. Sometimes, the exploiter will look for adults in declining health who cannot leave their homes or those who suffer from a mental decline or Alzheimer’s.
Most of the time, seniors are the targets of people close to them. Seniors targeted by strangers lose an average of $17,000, whereas seniors targeted by people they know lose an average of $50,200.
Manipulation tactics for undue influence
There are a variety of tactics that scammers may use to exploit your loved one. First, suppose the person is a family member or close to the family. In that case, he or she may be able to access financial accounts by knowing the answers to security questions or having access to private information. Others may use a person’s good nature against him or her. The person may pretend to be friendly and compassionate while asking for or stealing money from your loved one.
Family members can sometimes convince or pressure someone to include them in the will or name their beneficiaries.