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Eldercare
Reply to "Protecting Elderly Parents From Scam Artists"
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[quote=Anonymous]My brother ended up completely taking over my Dad's banking because my dad kept falling for scams. The final straw was when my dad fell for a scam where they claimed to be an agent with the social security administration, and that my dad's identity had been compromised and used to money launder for drug and child sex trafficking rings. They claimed they needed my dad to give them $31,000 in cash to get him a new social security number. And my dad did it!!! He withdrew $31,000 in cash and waited outside his assisted living facility, and dropped the bag of cash in the back seat (through an open window) when the car pulled up. At that time, my brother had already been monitoring my dad's accounts, and paying the bills, but my dad still had access to his own money. After that scam, my brother basically had to go through a process (with the assistance of my dad's doctor, signing that my dad was incompetent) where my dad now can not access all of his own money. My dad has a debit card to a specific bank account. My brother keeps $2,000 in it for my dad to spend, so at least now the most money he can lose is $2,000.[/quote]
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