At Hickman Lowder, we encounter a wide range of challenges facing older adults and their families. In recent years, we have seen a significant increase in cases involving financial exploitation, which can take many forms. One of the most concerning and increasingly common types of financial exploitation affecting older adults today is the romance scam.
Why Romance Scams Are So Effective
Romance scams often prey on two very real and very human experiences later in life: social isolation and the desire for companionship. These scams typically begin as what appears to be a genuine and caring connection. Over time, however, the relationship turns into heartbreak and financial loss for the loved one.
Scammers frequently spend weeks or even months building emotional trust and closeness before ever asking for money, gifts, or access to bank accounts. It is not uncommon for the scammer to claim to be located in another state or even another country. They often choose locations that are remote or difficult to reach, creating significant barriers to ever meeting in person and making it easier to avoid detection.
Often, the first request for money is tied to some type of “emergency.” By this point, the scammer has spent significant time getting to know the victim and learning what is important to them. They may appeal to emotions or sympathy, making the victim far more likely to send money or provide financial access.
Why These Scams Can Go Undetected for So Long
These relationships can continue for years without being noticed because they involve two socially sensitive topics: money and love. Victims may feel embarrassed, defensive, or afraid to talk about what is happening, which allows the exploitation to continue unchecked.
The Importance of Estate Planning as a Protective Tool
At Hickman & Lowder, we know our clients have worked hard and planned carefully throughout their lives to build financial security for retirement. The last thing we want to see is that security threatened by exploitation or manipulation.
This is one of the many reasons it is so important to have current and up-to-date estate planning documents in place. With proper planning, a Durable Power of Attorney for finances can step in to help monitor and manage funds coming into and going out of accounts, adding an important layer of protection if concerns arise.
Our goal is to ensure every client is prepared with strong, thoughtful estate planning documents that not only plan for the future, but also help protect against exploitation today.
What To Do If You Suspect a Romance Scam
Awareness is the first step. If you suspect someone in your life may be the victim of a romance scam or another form of financial exploitation, consider the following steps:
- Schedule a consultation with an attorney at Hickman Lowder to discuss how we can help protect your loved one and their assets
- Further guidance and support can be found from the Cuyahoga County Scam Squad at 216-443-7226
- Contact your local Adult Protective Services at:
- Cuyahoga County: 216-420-6700
- Lake County: 440-350-4000
- Lorain County: 440-284-4465
- Medina County: 330-661-0800
- Summit County: 330-643-7217