An unfortunate common issue that is often seen by elder law attorneys is financial abuse of the elderly. The elderly are very vulnerable to financial abuse. Financial abuse can occur in a number of ways.
If you have an elderly loved you, you need to be aware of the warning signs so that you can stop the abuse and get your loved one the help that is needed. If you have additional questions or if you’d like tips on hope to stop financial elder abuse, meet with an elder law attorney.
If you notice any of the following warning signs, your elderly loved one may be experiencing financial abuse:
- Missing financial records
- Unneeded purchases that don’t make sense
- Large bank account withdrawals
- New billing accounts added to an online account
- Someone is suddenly added to a bank account as co-owner
- Missing valuables
- New account beneficiaries
- Inability to pay daily living expenses
- A new friendship, especially one that takes away from family time
- Telemarketer calls or mailings, asking for personal financial information
- Forged signatures on important documents
- New estate planning documents
- New bills that are unexplainable
- A sudden interest in a new “investment”
- Changes in the titling of assets
- Confusion about current financial situation
- Missing checks, credit cards, or cash
If you notice any of the above warning signs, it’s important that you get your loved one help as soon as possible. Talk to your loved one about their current financial situation to determine if there is a problem.
Financial abuse of the elderly is a common elder law issue. If you suspect that this type of abuse is occurring, speak with an elder law attorney and get the help that is needed.