Recognizing and Avoiding Elder Financial Abuse

The unfortunate reality is that financial abuse in nursing homes and elder facilities has affected thousands of innocent and vulnerable seniors. In fact, reports show that such citizens lost an astounding $2.9 billion in 2010, a 12% rise from years previous. This blog post aims to highlight certain information regarding elder and nursing home embezzlement—as well as protecting you and your loved ones from it.

Elder abuse can take many forms. In certain instances, some of the perpetrators are individuals who have no relationship with the elder—such as fraudulent telemarketers or identity thieves. Although such persons may have no affiliation with the elders or nursing home members, they still can easily swindle and coax them. Moreover, oftentimes it is the ones closest, such as caregivers or nursing home staff, who are the con artists. Being so close and so trusted, these people have easy access to financial records, credit cards, or even simple cash from the wallet. Also, some nursing home embezzlers have used their residences as a source of funding for miscellaneous desires, such as car or house payments, gym memberships, etc. Hence, financial elder abuse is nothing to be overlooked.

One of the largest determinates in elder financial abuse cases is solitude. The greater degree of seclusion, the more an individual is at risk. It creates an air of vulnerability for elders, as there are very few others able to recognize any symptoms or inaccuracies. Such solitude leaves residents as the ultimate and only decision makers, potentially causing he or she to miss certain financial “errors” or give authorization to terrible decisions. Furthermore, every individual needs companionship and, therefore, the lack thereof can lead to strong relationships with caregivers. In many cases, this is extremely healthy for residents; but in some instances, manipulation and unethical exploitation can occur. It is extremely important that there are family or friends available to reexamine financial records or statements. Spotting a certain oddity can save you or you loved one from losing thousands of dollars along with emotional damages. Thus, a secluded elder can very easily become an abused elder.

Another factor can be the nursing home itself. We’ve seen many cases where a history abuse has occurred, be it financial or physical or whichever, and residents have no knowledge of such. Make sure when searching for correct nursing homes: Check the facts! There are many resources available in order to find important information regarding you or your loved one’s new home. If already in a residence, do particular research right now. It is crucial to understand what exactly you or your loved one is about to faces. As many of us are aware, History is prone to repeat itself. Don’t be victim of it!

If you at all witness any indicators of financial abuse, or you yourself are a current victim, call our San Diego elderly abuse attorneys right away. Our experienced firm will aid you and your family through this tumultuous period. No elder deserves to suffer financial abuse. We will help you gain back what is rightfully yours.

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