Financial Exploitation

Financial abuse is one of that type which is commonly observed to acquire material wealth from elders or from the one who hardly has any support. It is often termed as financial exploitation or abuse. Elders taking care from professional nursing home are the victims. Caregivers illegally harass to acquire one’s property, assets or wealth. Family members should try to investigate this matter although many of them are blindly replying on caregivers and nursing home to look after everything giving rise to financial exploitation of seniors.

It is a serious issue widespread in almost all the countries by caregivers or family members or relatives. Statistics of elder abuse will further increase as technology advances, social changes and aged population rise in coming years.

Indicators of Financial Abuse

Elders are simply unaware of whether they are financially abuse in some cases. Having age barrier they have to rely on someone for online transactions, bank procedures and gaurdianship wherein money exchange is in picture. Illegal advantage may lead to loss of hard earned wealth of senior which is the only asset till death.

Unauthorized usage of your credit/debit cards or cash
Unwanted changes in elder’s will or financial documents
Stealing of funds or passwords for transactions
Morphed usage of signatures for financial transactions
Constant demand of money or assets from caregiver or relatives
Improper use of will or guardianship

If you are facing any such situation, you are facing financial abuse. Raise you voice now!

How financial abuse can be prevented?

Caregivers or relatives can abuse you financially if you have entrusted them a lot or have given freedom to much extent. In case caregiver is the suspect, talk to relatives directly and make them investigate the matter on priority. Financial abuse can be stopped taking preventive measures:

Talk to your attorney first if family member/nursing home is abusive
Avoid cash transactions rather choose automated payments keeping bank in loop
Talk to bank directly and try to look after financial transactions with geriatric care manager
Communicate with banks to track suspicious activities
Check review of caregivers/nursing home before hiring a one along with family background and financial status. Prefer referral caregivers.

How financial abuse can be prevented?

Talk to your attorney first if family member/nursing home is abusive
Avoid cash transactions rather choose automated payments keeping bank in loop
Talk to bank directly and try to look after financial transactions with geriatric care manager
Communicate with banks to track suspicious activities
Check review of caregivers/nursing home before hiring a one along with family background and financial status. Prefer referral caregivers.

IF YOU HAVE SUFFERED ANY Financial Exploitation, CONTACT OUR ELDER ABUSE ATTORNEYS TODAY

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Financial Exploitation

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