Some families know in advance that they have to pursue conservatorship for the protection of an aging loved one. A diagnosis of Alzheimer’s disease or another form of dementia makes it clear that an older adult can no longer manage their own resources independently.
Other times, an individual in need of support may not have any obvious warning signs of their vulnerability. Uncovering evidence that a loved one fell victim to financial fraud or a costly scam could potentially be reason to pursue a conservatorship for their protection.
Bad actors often target older adults
As horrifying as it may be for those concerned about aging individuals, there are malicious parties who may intentionally victimize older adults. Their confusion and even their loneliness can make them ideal targets for unscrupulous fraudsters.
Catfishing and developing a fake relationship with the intent of seeking financial support from an older adult is a common form of financial scam that targets aging individuals. Other times, people who present themselves as professionals may convince older adults to buy into investments that are clearly fraudulent.
Showing that an older adult made decisions that were not in their best interests because they were easy to coerce or manipulate could help family members convince the courts that a conservatorship is necessary. A clearly demonstrated inability to properly manage financial resources, fulfill obligations and make informed economic decisions could help establish that an older adult requires assistance preserving their assets.
Going to court to seek conservatorship after a loved one experiences some kind of scam or fraud can help families preserve their resources and support that vulnerable person. Conservatorships help ensure that older adults have the financial resources they need as they age.
