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scams

An aging father chafes at a daughter’s request for financial safeguards

August 26, 2024 By Liz Weston

Dear Liz: I am 88. My wife who is 81 has Alzheimer’s but not so bad that we cannot do most things together as before. My younger daughter, an attorney, wants me to sign an agreement that will make it a little more problematic for me to access my substantial financial accounts. She thinks somehow I will get tricked into giving the money to some scam artist. I like the idea of being protected but do not care to have her being able to decide if I can spend my own money as I see fit. She says the document can be deleted by me at any time, but I still feel put upon.

Answer: Take this document to your estate planning attorney for a review. The attorney can help you assess whether this is the best approach or if there are other ways to keep you safe.

If you don’t have an attorney, get one. Estate planning is not a do-it-yourself endeavor when you’re both in your 80s and one of you has dementia.

You’re understandably in a “live for today” mode. You’re focusing, for example, on what you and your wife can still do, rather than on the cognition she’s lost or the losses yet to come. Your daughter’s focus on the future may feel like an imposition, but the reality is that you won’t become less vulnerable to fraud, scams and plain bad decisions as time passes.

Filed Under: Elder Care, Financial Advisors, Q&A, Scams Tagged With: DIY estate planning, elder fraud, Estate Planning, scams

Wednesday’s need-to-know money news

May 19, 2021 By Liz Weston

Today’s top story: Scam Alert – Be skeptical of that emergency. Also in the news: How 2 first-gen college students got into their dream schools, what to do if your tax refund is delayed, and what to look for in an offer letter (besides the money).

Scam Alert: Be Skeptical of That ‘Emergency’
Take steps to guard against criminals who may pose as family or friends seeking money in an emergency.

How 2 First-Gen College Students Got Into Their Dream Schools
Focus on what drives you, lean on your resources and don’t quit when going through the college admissions process.

What to Do If Your Refund Is Delayed and Your Bills Aren’t
Coping with IRS delays.

What to Look for in an Offer Letter (Besides the Money)
Other perks to look for.

Filed Under: Liz's Blog Tagged With: college, fake emergencies, offer letters, scams, tax refund delays

Tuesday’s need-to-know money news

December 22, 2020 By Liz Weston

Today’s top story: What the new COVID relief package means for you and your money. Also in the news: Second relief bill and vaccine rollout attract fraudsters, taking advantage of student loan breaks before 2020 ends, and why a down payment is just the beginning of buying a new home.

What the New COVID Relief Package Means For Your Money
It includes $600 checks for millions of Americans and revives federal unemployment aid and loans for small businesses.

Scam Alert: Second Relief Bill, Vaccine Rollout Attract Fraudsters
Staying skeptical and reading up on common schemes can help you keep your money and personal financial info safe.

Take Advantage of Student Loan Breaks Before 2020 Ends
Consider making a lump-sum payment, addressing defaulted loans or refinancing private loans before the year ends.

Want to buy a home? A down payment is just the beginning
What can go wrong, will go wrong, and you’ll need cash to pay for repairs and everything else for your new home

Filed Under: Liz's Blog Tagged With: COVID relief, down payments, fraud, home expenses, real estate, scams, Student Loans, vaccines

Wednesday’s need-to-know money news

October 14, 2020 By Liz Weston

Today’s top story: How to handle college loan debt as an unemployed recent grad. Also in the news: Why you should sell your leased car instead of returning it, remote work visa opportunities, and why you should never pay an upfront fee for student loan debt relief.

How to Handle College Loan Debt as an Unemployed Recent Grad
Unemployed recent grads with student debt can apply for income-driven repayment or unemployment deferment.

Don’t Return Your Leased Car — Sell It
Rising used car values offer a chance to get out of a lease you can’t afford or even sell and pocket some cash.

Remote Work Visa Opportunities (and How to Get There on Points)
Looking to work remotely from somewhere new? These countries have developed special visas just for remote workers.

You Should Never Pay an Upfront Fee for Student Loan Debt Relief
Scams are rampant.

Filed Under: Liz's Blog Tagged With: leased cars, remote work visas, scams, student loan debt, student loan debt relief

Tuesday’s need-to-know money news

June 23, 2020 By Liz Weston

Today’s top story: How to bank when you can’t go to the bank. Also in the news: Don’t fall for COVID-19 student loan relief scams, file your claim in the Yahoo data breach settlement by July 20, and how to hire a financial advisor who won’t rip you off.

How to Bank When You Can’t Go to the Bank
The pandemic has made in-person banking complicated.

Don’t Fall for COVID-19 Student Loan Relief Scams
Scammers are charging for free information.

File Your Claim in the Yahoo Data Breach Settlement by July 20
But don’t get too excited about the amount.

How to Hire a Financial Advisor Who Won’t Rip You Off
Trusting the right advisor.

Filed Under: Liz's Blog Tagged With: banking, Coronavirus, financial advisors, scams, Student Loans, Yahoo data breach settlement

Thursday’s need-to-know money news

March 19, 2020 By Liz Weston

Today’s top story: Relief checks may be coming, but scammers are already here. Also in the news: 3 ways credit cards can help you ride out a crisis, your student loan bill is still due during a pandemic, and how to save energy while you’re stuck at home.

Relief Checks May Be Coming, but Scammers Are Already Here
Scammers never miss an opportunity.

3 Ways Credit Cards Can Help You Ride Out a Crisis
Preserving your cash.

Your Student Loan Bill Is Still Due During the Pandemic
Interest is halted, but you still need to pay.

How to Save Energy When You’re Stuck at Home
Keeping your electric bill in check.

Filed Under: Liz's Blog Tagged With: Coronavirus, Credit Cards, energy saving tips, relief checks, scams, Student Loans, tips

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