Estate Fraud Prevention

Family financial abuse

• $28 BILLION/year stolen from seniors by family members + caregivers.
• Often: child borrows + doesn't repay, caregiver takes credit cards, "I'll handle banking" + drains accounts.
• Watch signs: missing items, unfamiliar charges, isolated by one family member.
• Most under-reported crime in US.

Lifetime protections

• Limited Power of Attorney — only what's necessary, expires.
• Trust + Trustee with co-trustee — checks and balances.
• Multiple banks — split accounts, different signatories.
• Trusted Contact at bank — bank calls them if suspicious activity.
• Monitor accounts monthly — flag unfamiliar charges.
• Don't add adult kids as joint owners on bank accounts (their creditors can take it).

After-death protection

• Will + Trust drafted by attorney — DIY wills are ground for challenges.
• Witnesses + notary — both required.
• Specific bequests — name items, beneficiaries, percentages.
• "No-contest clause" — disinherits anyone who challenges.
• Letter of intent — explains why decisions made (helps prevent suits).
• Update will every 5-10 years + after major life events.
• Tell heirs ahead of time — surprise inheritances cause family wars.

Deed / property theft

• Some scammers forge deeds to "sell" senior's home.
• Sign up for free deed monitoring at county recorder (most counties offer).
• Title insurance + monitoring service — Home Title Lock ($15/mo). Helpful but free options exist.
• Annual property record check at county website.

If you suspect fraud

1. Stop access — change passwords, lock accounts, revoke POA in writing.
2. Document everything — dates, amounts, who did what.
3. Adult Protective Services (APS) — your county. Free, confidential.
4. Local police + DA elder fraud unit.
5. Consult an elder law attorney (low-income legal aid free).
6. Don't confront the abuser alone.