What are the signs of financial elder abuse?

Financial elder abuse can be perpetrated by strangers (such as unscrupulous home improvement contractors) or by close family or friends. Sometimes, a caregiver gains access to the elder’s finances and, over time, influences the elder to give them money and to rewrite wills, deeds, and insurance policies to the caregiver’s benefit. As a family member, you can help by talking with the elder about his or her financial arrangements and, if feasible, reviewing the elder’s financial statements. Be alert for the following:

  • Significant withdrawals from the elder’s accounts
  • Suspicious changes in wills, powers of attorney, titles and policies
  • Items or cash missing from the elder’s household
  • Transactions the elder could not have performed (such as ATM withdrawals from the account of a house-bound elder)

Posted in: Elder Abuse