What Is Financial Exploitation Of Seniors?
With the busy lifestyle many individuals maintain, it’s easy to see why nursing homes are so relied upon for seniors who are no longer fully capable of caring for themselves. Unfortunately, because of their need for assistance and care, it’s these individuals who are also more vulnerable and susceptible to unforgivable actions.While the physical abuse of seniors is one of the most disgusting acts a person can perform, financial exploitation of the elderly is just as damaging and often occurs more than any other form of abuse. Learn what financial exploitation of seniors is and how to watch for it below.
Common Forms of Financial Exploitation Your Loved One Might Have Suffered
As a general definition, financial exploitation is when someone either steals, takes, or misuses assets from someone as a means of their own personal benefit. This can occur in a number of ways in nursing homes and assisted living facilities, including matters involving:
One of the most serious types of financial exploitation involves fraud in which a caretaker utilizes the elderly individual’s bank information, credit cards, or spending assets on their own expenses or for personal gain.
Who Perpetrates the Financial Exploitation of Seniors?
Many people think of the elderly as vulnerable and easy targets. Combine this fact with the reality that an older person might have their life savings tucked away so that they will have enough money to live on or they might receive a monthly pension or Social Security check. An unscrupulous individual or organization might view a senior as a walking piggy bank.
Here are some of the common parties who take advantage of older adults:
With every passing day, there seems to be yet another scam created to steal money or other assets from older adults.
Signs That an Older Adult Might Be the Victim of Financial Abuse
You might want to investigate what is happening if you see the indications like these:
Essentially, if you notice your loved one’s bank or credit card statements include strange expenses or checks that are unaccounted for, it could be an indicator that they’re the victim of financial exploitation. Even worse is when the caretaker convinces the elderly that they’re using the funds for intended purposes, but instead use the money for something else.
Retain an Attorney That Takes on in Elder Abuse Cases
At Brown & Barron, we take financial elderly abuse very seriously. We work hard to help the elderly and their loved ones seek justice and hold those responsible fully accountable for their actions. It’s important to report financial exploitation as soon as you are convinced it is occurring.
People who financially exploit the elderly usually do not stop until they get caught, or they take everything of value from the older person. It is difficult for law enforcement to obtain convictions in these cases, and much more challenging to get the wrongdoer to return the money and items. So, time is of the essence.
Our nursing home abuse attorneys work hard to protect you and your family every step of the way. Trust that we’ll do whatever it takes to get you through this situation in the most positive manner possible.