Scammers are on the rise, and there is now real data to prove it. On August 7, 2025, the Federal Trade Commission (FTC) reported that there has been a more than four-fold increase since 2020 in reports from older adults who say scammers have stolen $10,000 or more from them. According to the FTC, combined losses reported by people 60 and over who lost more than $100,000 increased eight-fold in the last four years. You can read the article in its entirety by clicking here.

As technology and artificial intelligence advances, scammers are becoming more sophisticated in their tactics. Scammers may call you with a fake family emergency or a fake problem to persuade you to transfer money out of your account. It is important to stay vigilant and trust your gut when something seems “off.”

Unfortunately, however, older adults are more susceptible to scams for a variety of psychological, social, and financial reasons. Seniors are often targeted not because they are careless, but because scammers deliberately prey on traits like trust, compassion, and financial stability. Furthermore, people typically experience memory issues or even cognitive decline as they get older, affecting judgment and decision-making. It is difficult enough as it is to keep up with technology and to spot fake websites or phishing attempts, much less for one with cognitive issues. 

Fortunately, having a good estate plan in place can help seniors and aging adults keep their finances and decisions safe by building protections into their Power of Attorney and Trust.

1. Durable Power of Attorney 

A Durable Power of Attorney appoints someone (an “attorney-in-fact”) to make financial decisions if the maker (the “principal”) is unable to make those decisions themselves. The idea is that the Power of Attorney isn’t used until the principal becomes unable to manage their finances themselves; however, the Power of Attorney should be drafted to allow the attorney-in-fact to act immediately on the principal’s behalf regardless of the principal’s health status. This avoids delays in emergency situations and prevents disputes over capacity. 

Drafting the Power of Attorney this way also helps protect the principal’s assets should the attorney-in-fact suspect that the principal is being scammed. The attorney-in-fact will have the legal ability to intervene in this emergency and stop fraud from happening in real time.

2. Trust

Holding assets in a trust is another strategy to use in an estate plan to protect assets from scammers. There are numerous types of trusts out there, but keeping assets in a revocable trust allows the creator of the trust (the “grantor” or “settlor”) to control their assets while allowing a successor trustee to step in and manage things if the grantor starts showing signs of vulnerability. A grantor can also build oversight into their trust by appointing a trustee to serve with them (a “Co-Trustee”) so that any large transactions or withdrawals from financial accounts need approval from the Co-Trustee.

Although a Durable Power of Attorney and a trust cannot 100% guarantee that one’s assets are protected from scammers, a thoughtful estate plan can help safeguard a loved one’s finances from those who might try to take advantage. By working with an experienced estate planning attorney, seniors and older adults can create documents that not only reflect their wishes but also build in practical safeguards against modern scams.

Attorney Brittany Hinojosa Citron is a senior associate attorney with the law firm of Samuel, Sayward & Baler LLC which focuses on advising its clients in the areas of trust and estate planning, estate settlement, and elder law matters. This article is not intended to provide legal advice or create or imply an attorney-client relationship. No information contained herein is a substitute for a personal consultation with an attorney. 

August 2025

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