A Growing Problem
Unfortunately, Elder financial abuse is a growing problem in the United States. The elderly can be an easy target for corrupt financial professionals, fraudulent strangers with deceitful intentions, or even dishonest family members. The financial exploitation of elders can encompass a broad range of conduct and can happen to elderly people with any level of income.
The Warning Signs
Sadly, corrupt people tend to target the elderly. Protect your elderly loved ones by paying attention, and look out for these warning signs:
- You notice unusual activity regarding investment properties.
- You notice unusual activity with their bank account, like the withdrawal of large or regular funds.
- You notice checks being signed with a signature that does not matched your loved one, or checks being signed when your loved one cannot write.
- There are recent changes made to a will or trust when your loved one is not capable of making such decisions.
- Power of attorney is given when your loved one is not capable of making those decisions.
- You notice unpaid bills, rent, or utility shut off notices.
- You notice a caregiver is suddenly spending an excessive amount of money on clothes, jewelry, cars, etc.
- You notice a lack of spending for the care of your loved one.
- Your loved one has missing items like jewelry, art, or money.
- Your loved one unexpectedly sells off assets or properties.
- Your loved one gives uncharacteristically excessive gifts or financial reimbursement to their caregiver or to a companion.
- A caregiver has control of an elder’s money but fails to provide for the elder’s needs.
Get In Touch
It is easy for anyone to be tricked by corrupted financial professionals. If you suspect your elderly loved ones are being exploited or abused by a deceitful financial company, give us a call. We can help you set things right and get your loved one the care they deserve.