Elder Financial Abuse - Prevention 101

Seniors get old and lose their ability to distinguish between things. So they are unable to detect from trustworthy and bad friends. And they even lose the natural human tendency to distrust strangers.

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Table of Contents: Also, elders often rely on others for their care and well-being. Sometimes a trustee, a lawyer, or friend will help them with financial responsibilities. And this places them in a vulnerable position.

They are dependent and trusting. And old folks can easily be and are taken advantage of by people they entrust all the time. Often a person who oversees financial help goes rogue.

So instead of being treated with respect and care, the senior gets ripped off. And the financial abuser can be a family member, caregiver or nursing home staff. This article discusses some of the scenarios that lead to the defrauding of elders and their kin.

It is written by a Los Angeles, elderly abuse attorney. Let's call it elder financial abuse prevention 101.

What are Some of the Many Forms of Deception and Theft Used to Steal From Seniors?

Financial elder abuse can take several forms, including:
  • Deception:

A lawyer, old or even new “friend,” or family member can do this the easiest.
  • It can be a family member or even a shifty lawyer convincing the parent or relative to place their assets into their name.
  • But when the elder dies, this leaves siblings or family members from property rights. Because of this abuse, this leaves one family member owning all properties.
Also, this can often be a mere caregiver and not a member of the family. But this person financially gains by convincing the elder to sign over the property to them.
  • Fraud:

Another type of elderly financial fraud elders suffer is labeled as outright theft by courts. Thieves persuade them to take money from their wallet or purse. Then they dupe elders to buy items or memberships they cannot use.

These things are often done without the older person’s consent.

  • Sometimes they feel defenseless.
  • So they agree to let this person take cash or charge items.
  • Phone Scams or Even Medical Fraud:

Financial elder abuse can be in the form of:
  • Telephone marketing or identity fraud.
  • But it can also include medical fraud.
All of this takes funds from the trusting elderly person. These tactics put pressure on the elderly person. Often they feel they have no choice. So they give out financial information.

Spotting the Abuse Is Very Difficult:

The elderly victim frequently will not accuse their financial abuser. Hence, it falls on families to expose it with the assistance of a financial abuse attorney.

It is essential to stop elderly financial abuse. And when a family believes a loved one was taken advantage of, they get legal help. So contact a financial elder abuse attorney if that happens. More than anything, this lawyer is a licensed counselor available to discuss the legal options available for you and your kin.

And he or she can advise the steps to take to recover the property too. Even if it was a friend that trusted the wrong person, they deserve help. We hope you have enjoyed our discussion on identifying financial exploration of elders.

As you can see, this type of fraud can ruin relations with legal heirs and make a disaster of end of life planning. So when an elderly family member or friend might be a victim of financial elder abuse, contact us.

Then, a financial elder abuse attorney can discuss the situation. Hence, we will be able to provide legal options to remedy the situation. So we then can protect the graying, and vulnerable victim’s rights Call Ehline Law Firm now at (213) 596-9642. Learn if you have a case.

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