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Elder abuse comes in many different forms and is usually physical but emotional and financial abuse or exploitation is just as harmful. Financial elder abuse occurs when people cheat senior citizens out of their money or their property. Such exploitation can be committed by people they know, such as family members and caretakers or complete strangers. If you or somebody you know is a victim of financial theft, call an experienced Sacramento nursing home lawyer for help.
What Is Financial Elder Abuse or Senior Fraud?
Unfortunately, elderly people are often dependent on other people for their care, which puts them in a vulnerable position. Financial abuse is the theft or embezzlement of money or other property from an elder. If a caretaker or family member is responsible for managing the senior’s money, property or other assets, and commits one of the following crimes, they could be charged with senior fraud:
- Not paying an elder’s bills that you are responsible for paying
- Not purchasing necessary items for the elder that you are responsible for buying (food, medications, clothing, etc)
- Making unauthorized withdrawals or purchases using the elder’s ATM or credit card
- Making unauthorized changes to an elder’s will or power of attorney
Although most of the time, senior citizens are victimized by their children, grandchildren, spouses or caregivers, financial elder abuse can be perpetrated by strangers. This can include identity theft, investment fraud, phony charities or convincing the senior to buy something he cannot or will not use. Some more common scams by strangers include:
- Lottery and sweepstakes scams
- Home repair/traveling con men
- Charity scams
- Roof repair, yard work, home repair scams
- Telemarketing scams
- Medicare scams
- Internet phishing – false emails about bank accounts
Some Common Scams by Family Members Include:
- Using a Power of Attorney to steal the victim’s monies for the perpetrator’s own use
- Taking advantage of joint bank accounts
- Using ATM cards and stealing checks
- Threatening to abandon, hit or harm the victim unless he or she gives the perpetrator money
If you are a victim of one of the actions above or anything else that relates to financial exploitation, contact an experienced Sacramento nursing home lawyer immediately.
Elder Financial Abuse Statistics
Because there is a growing population of senior citizens, it is not surprising to hear that there is a growing number of elderly abuse incidents. In fact, some shocking statistics suggest that elder financial exploitation is widespread:
- Only 1 in 44 cases of financial abuse is ever reported
- 90% of abusers are family members or trusted others
- Abused seniors are 3 times more likely to die and elder abuse victims are 4 times more likely to go into a nursing home
- 1 in 9 seniors reported being abused, neglected or exploited in the past 12 months
The effects of financial exploitation on a vulnerable individual is devastating. By working with an experienced attorney, the victim of elder financial abuse will be able to recover from any financial, physical or mental pain and suffering they may have endured. Don’t wait any longer to talk to a legal expert.
Speak with Our Sacramento Nursing Home Lawyer About Elder Abuse
Contact our offices in Folsom or Sacramento to discuss your injuries with a lawyer. We offer a free initial consultation to all new clients. You can reach us by phone at (916) 357-6767 or send us an email to schedule an appointment.
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