Scammers target older homeowners because they typically have more home equity than younger people. They also know that many seniors don't see their adult children every day and are less familiar with technology. For example, many seniors don't realize they can apply for and get a mortgage through their smartphones.
SafetyDeed can prevent you from selling or giving away your home or accessing your home equity if you don't follow certain rules that you set, such as requiring that your children or lawyer be informed about any proposed transactions before they become binding.
Surviving spouses have to make many important decisions on their own—often for the first time. At the same time, it is not unusual for them to experience physical or mental health challenges, especially if they are isolated from friends and family. Under these circumstances, it is easy to make bad financial decisions.
You and your wife can require that if you die first, a relative, lawyer, or someone else you trust must be notified before her signature will have any effect on any future agreement affecting your home.
Marriage and adult adoption scams can be hard to prove, especially if the victim is no longer competent or has died. SafetyDeed isn't a guardian and can't prevent a client from marrying or adopting whomever they choose, but we can make it very difficult for scammers to be added to their title or to inherit their home.
Scammers do their homework. Having SafetyDeed on a title tells them to look elsewhere for a victim.
Short of guardianship, how does a senior protect their home if their cognitive ability or health declines and a scammer gets close to them?
SafetyDeed is like a living will for a home. If your mother still has the legal capacity to sign a contract, she can sign up with SafetyDeed and require that you be notified before any mortgage, gift deed, or other agreement affecting her home becomes binding. She can set the same requirements for any new wills or will amendments she might make.
Irrevocable trusts offer superior protection for many people but not everyone wants or can afford one. Furthermore, many lawyers and financial advisors don’t have the resources to act as trustees for their clients.
SafetyDeed is not a guardianship or a trust but it can help you protect your client’s home. If your client names you as a trusted “Reviewer,” we will notify you about any proposed transactions involving their home before they are consummated. Even if your client signs an agreement in front of witnesses and a notary and it gets recorded, it is highly unlikely that a court will enforce it if we didn't certify that you discussed it with them first.