South Carolina Injury Attorneys
Financial Abuse of Elderly People: What You Should Know

Financial Abuse of Elderly People: What You Should Know

As people age, medical conditions and limited mobility require many individuals to rely on others for care. Whether in a nursing home or receiving the assistance of an in-home care provider or family member, the elderly often have someone in their life who provides help with daily activities.

There are many people who care for elderly people and do a great job of it. Sadly, there are others who take advantage of the vulnerability of older adults or ignore their needs. The abuse and neglect of the elderly is an unfortunate reality of later-in-life care.

Physical, emotional, and sexual abuse, as well as various forms of neglect, are some dangers of inadequate elder care. Another form of abuse — financial abuse — is just as prevalent and hazardous.

What is Financial Abuse?

Financial abuse involves situations in which a person takes advantage of an elderly individual for their own financial gain.

A care provider or family member who is financially abusing an older adult may do things such as:

  • Stealing valuables or cash
  • Appointing a new authorized user of a credit or debit card
  • Changing the details of a will or insurance policy
  • Taking money from a bank account
  • Charging an excessive amount for care
  • Coercing an elderly person into buying things they don’t need

Signs of Elderly Financial Abuse

If an elderly person in your life is exhibiting any strange behavior or a lack of awareness about their finances, this could be signs that they are a victim of financial abuse.

Financial abuse may be exhibited in the form of:

  • Unusual new purchases
  • Changes to important documents
  • Unawareness of financial status
  • Avoiding questions about money
  • Missing money, valuables, and other assets

As a loved one of a nursing home patient, it is important to be aware of the realities of elderly abuse and neglect. If you suspect that an older family member is being mistreated by a caregiver, contact Christian & Christian today.

Schedule a no-cost case evaluation through our contact form or via phone at (864) 408-8890.

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