Duo Works To Protect Elderly From Financial Scams
Published: July 2, 2007
The Daily Journal
July 02, 2007
By Gary Scott, Daily Journal Staff Writer
Shareholders Ed Corey and Kelly Sutter comment on the protection of the elderly from financial scams as the population in California grows older and lives longer. They note that there is a dramatic increase in the number of elder financial abuse cases over the past ten years.
Corey stated, “there is a sense of entitlement to inheritance and wealth…” by relatives who are often the culprits of financial elder abuse. However, Corey and Sutter state that the abuse is not limited to family members. Rogue lenders using reverse-mortgages and inappropriate annuities are on the increase and there are several bills proposed by the California Legislature to deal with elder financial abuse, including reforming rules for conservators.