Elder Financial Abuse and Theft

Elderly people in Tennessee nursing homes and all across the country can be vulnerable to all types of abuse and neglect. Some of this abuse is not visible on the elderly person’s body but it can harm them in many other ways. One type of this abuse is when someone steals or waste money that an elderly or mentally disabled person may have. Elderly people are suspect to the same kinds of financial problems as anyone else such as the theft of one’s identity, scams, fraudulent activity on your credit card or in your bank account or many other schemes out there these days. The difference is that elderly people may not have a way to fight back and some elderly people may not even be aware that it is happening, which makes this type of abuse almost effortless for people wanting to take advantage of them.

What are some of the reasons why elderly people may be more susceptible to this type of abuse?

There are many reasons why an elderly person may be more at risk for this type of abuse. One of the main reasons that this type of abuse occurs is because many elderly people are secluded and cut off from people socially. If the elder is cut off socially from most everyone else there is a better chance that they will talk with someone that they think is a nice person but this person typically will have other reasons for the interaction. Also, since elderly people are cut off from other people to socialize with, they may be more likely to not say anything if they are taken advantage of financially because they may be embarrassed or scared about what the person may do to them if they speak up.

The way a criminal might be able to take advantage of an elderly person financially is by having some power or them or manipulating them. This can be accomplished by not letting them speak to your see their family or anyone else that may care about them, keeping track of the letters, packages or even bank statements they may receive, keeping track of who they talk to, being aggressive with them, and giving them too much or not enough medication to make sure that they have to rely on only that person.

Ways to Decrease occurances Of Elderly Financial Abuse

Making sure you visit with the elderly person no matter if they live at home or in a nursing facility can lower the risk of them being financially abused . Also, have you have the legal ability to do so watch all bank activity so you can look out for any unusual transactions that may occur. There are also certain laws in place in many places throughout the United States that state that banks are responsible for informing the government if mysterious transactions occur with an elderly person’s account. Finally, if you get a durable power of attorney for the one you love than you will be able to keep track of their finances decreasing this type of abuse substantially.

Some common signs of financial abuse of an elder may be:

  • The elderly person distributing or obtaining large amounts of money in their accounts more often or buying unusual items.
  • The elderly person stops funding their healthcare needs
  • Elderly person has strange transaction on their account for their health needs or for their nursing care facility
  • The elderly person may handle over items to someone they barely know
  • The elderly person obtains a different attorney or goes to a different bank
  • The elderly person names a different person their power of attorney
  • The elderly person will not talk about items they recently bought
Tips for Avoid Elderly Financial Abuse

The Council on Aging in Tennessee has some simple tips to help you and your elderly love one avoid financial abuse and neglect. These tips may include but are not limited to having checks that have no dollar amount on them be kept in a safe place and not having your elderly loved one or you sign a check until you are in the bank. Also, it is a good idea to use direct deposit for checks from the Social Security office

How can a Nashville Nursing Home or Elder Abuse Lawyer help with my case?

If someone you care about has been the victim of elderly financial abuse or neglect, then it is important that you speak to one our Nashville personal injury and nursing home abuse lawyers at the Higgins firm right away. We will help answer any questions you may have and will work with you to make sure the responsible party is held accountable for their actions. We will make sure you get the compensation you deserve for what you have been through.

Contact us online or call us at 800-705-2121 to set up a FREE consultation to discuss your legal options.