Be Aware: These Signs May Indicate Financial Elder Abuse

Senior Woman Signing Documents with her attorney

There are certain groups of people who receive more legal protection because they tend to be more vulnerable when it comes to being harmed. One such group is the elderly. Unfortunately, many people take advantage and prey on elderly people. This is commonly referred to as elder abuse. Elder abuse impacts one in 10 Americans 60 and older. Financial abuse is common among the elderly. 

Financial elder abuse is the illegal or improper use of an aged person’s money or assets for one’s own purposes. But it’s not only caregivers and nursing home health aides who engage in financial elder abuse. It is often friends or even family members of the senior. While we can’t always predict when financial elder abuse will occur, we can know what to look for in order to stop it in its early stages and prevent it from reoccurring. Here are signs that may be indicative of financial elder abuse. 

Potential Red Flags

There are a variety of signs to look for that may indicate that your loved one is the victim of financial elder abuse. These red flags include the following:

  • A change in the spending habits of the elder;
  • An elder is frequently concerned about money;
  • Bills have gone unpaid despite the elder having the money to pay them;
  • There has been an unexplained transfer of funds from the elder’s account into the account of an unrelated person; and
  • A new name has been added to the elder’s bank accounts or credit cards.

The above list is not all-inclusive. There are many other signs that your elderly loved one has been the victim of financial abuse. The most important thing is that you continue to pay attention to what is occurring with them. 

Shame Often Hinders Reporting

Sadly, financial elder abuse often goes unreported due to individuals feeling ashamed or embarrassed to have been the victim of such a crime. They may also be worried that reporting what has occurred will lead them to be admitted to a care facility (if not already in one) and to lose their sense of independence. 

You should always remain vigilant of what is going on with your loved one. If you suspect that your loved one has been the victim of elder abuse – of any kind – it’s so important that you speak up and report it. This is especially pertinent if the abuse is caused by their nursing home or a health care provider. Reporting the abuse may help to prevent it from occurring in the future not only to your loved one but to others as well. 

Surovell Isaacs & Levy PLC Can Help Those in VA Who Have Experienced Nursing Home Abuse

If you or a loved one has suffered from nursing home abuse or neglect, it can have a drastic impact on many aspects of your life. This behavior should never be tolerated and you should never have to bear the cost of someone else’s mistakes. A knowledgeable and experienced personal injury attorney who has experience with nursing home abuse cases can help to walk you through the process.

At Surovell Isaacs & Levy PLC, we work hard to ensure that our clients receive the best outcome and compensation that they deserve. To learn more or to schedule a consultation, contact us today!

Posted in: Personal Injury