Here’s a Forbes article about scams. While the major culprit appears to be mainly timeshares, the reality is that many people see dollar signs when they see seniors coming. It’s worth pointing out that new and used cars top the list for problems but most vehicles don’t approach the cost of making the move to retirement or assisted living facilities. Since housing usually tops out as the biggest expense for most people it makes sense to do the most homework for that type of purchase before signing any document. If you’re in doubt, make an appointment to get help from a CPA or financial planner especially if you already work with one of those as the service may be free. In any event, the small amount of money it will cost will more than pay for itself if you avoid a nightmare down the road. If you need a list of reputable financial planners, call AgingOptions at 1-877-76-AGING.
Investigate senior housing decisions before signing any document
Grievances about timeshares, retirement communities and assisted living facilities showed up in the Top 10 Consumer Complaints report put out by the Consumer Federation of America for the first time in 2012.