Elder abuse

Signs of Elder Financial Abuse

November 28, 2016 by Carrie Capouellez
Elder Financial Abuse

While most people show the utmost respect for their elders, others will take advantage of the aged, knowing they have little recourse. Some elders suffer from financial abuse, which occurs when a caretaker takes control of an elderly person’s finances through a variety of methods.

People hope their loved ones will never be abused in any way, but knowing the signs of elder financial abuse can help you protect your loved one and their financial assets.

Common signs of financial elder abuse can include:

  • Bills not being paid on time – If a senior has ample financial resources to cover the costs of living and other various bills, but these bills are not paid on time, it could be a sign someone has taken control of their finances.
  • Unusual account activity – If account activity shows something a senior is unable to do like withdraw money from an ATM when they are bedridden or shows items or services being purchased that they cannot use like a gym membership, it is possible someone else is spending the money.
  • Changes in standard of care – When seniors are isolated from their family or begin to receive a lower standard of care, close scrutiny needs to be placed on their caretakers. Neglect and financial abuse often go together, so it’s crucial family members regularly visit and check in on their elderly loved ones.
  • Changes to a will or signing over valuable assets – A sudden change in a senior’s will or if legal documents concerning real property of power of attorney are suddenly signed over, family members need to investigate the situation to insure the decision was not influenced by caretakers or other people trying to take advantage of your loved one.
  • Belongings are missing or property has been sold – If any valuable assets like jewelry, antiques, and property are missing or have been sold, you need to have a private talk with your loved one.

Elder Financial Abuse Attorneys for Philadelphia Families

If someone you love – your parent, grandparent, or other elderly relative – has been the victim of elder financial abuse in Philadelphia, contact the experienced nursing home abuse attorneys at Lopez McHugh LLP today immediately to discuss your options at no cost. We can help put a stop to the abuse and protect your loved one’s financial assets.

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