Our parents and elderly relatives have become the targets of unscrupulous brokers, investment advisors and insurance agents and sadly, sometimes immediate family members or close relatives.
Unfortunately, as we age our elders ability to understand these newer and complex investments diminishes every year. Their retirement savings are ripe for picking and an epidemic of fraud on our senior citizens is underway all across America.
As a result many new state laws with harsh penalties have been enacted to protect our loved ones. The attorneys at The Law Offices of Robert Wayne Pearce, P.A. are knowledgeable of these laws and skilled in protecting our senior citizens from financial exploitation and abuse.
Over the years, our firm has been retained in an increasing number of cases that have involved financial abuse (mistreatment) of senior citizens.
A recent study reveals why this trend is increasing. It establishes that knowledge about financial matters falls 2% each year after age 60, while at the same time confidence in being financially knowledgeable increases.
The study involved a test that measured knowledge of investments, insurance, credit and money basics. Those in their 60s scored 59% correct while those in their 80s and older scored 30% correct.
People over the age of 60 control half the wealth in America. They are generally not only unaware of their diminishing capacity, but are overconfident about their ability to make financial decisions.
Not only will Americans over the age of 60 tend to make more financial mistakes, they are tempting targets for fraud promoters. Seniors are 12% of the population but make up 35% of all fraud victims, according to the National Council on Aging.
Fortunately, there are many protections that the law provides to senior citizens who have been victimized.
FREE INITIAL CONSULTATION WITH ATTORNEYS WHO FIGHT AGAINST THE FINANCIAL EXPLOITATION OF OUR ELDERLY
The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in the financial exploitation of our elderly and investment law matters and constantly strives to secure the most favorable possible result.
Attorney Pearce provides a complete review of your case and fully explains your legal options. The firm works to ensure that you have all of the information necessary to make a sound decision before any action is taken in your case.
For dedicated representation by a law firm with substantial experience in all kinds of securities, commodities and investment disputes, contact the firm by telephone at 561-338-0037 or toll free at 800-732-2889 or via e-mail.
Report On Elder Financial Abuse-An Epidemic