It is estimated senior citizens lose $36.48 billion each year to elder financial abuses. Originally, it was estimated the number was only $2.9 billion because it is so underreported to authorities. The problem is 12 times worse in reality. Worst yet, $16.9 billion of this amount is said to be from deceptive yet technically legal tactics taken most often by unscrupulous probate attorneys who are brought in to represent the elderly through guardianship.
Why don’t we hear about these things more often? Simply put, the elderly and the families are embarrassed at what has happened and want to put it in the past.