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What do you know about elder financial abuse?

| Oct 12, 2020 | Injuries |

While you may know about the physical abuse that older adults may face in some nursing homes, you must educate yourself on other forms of abuse. Are you familiar with elder financial abuse?

AARP gives several warning signs that a nursing home resident could be a victim of financial abuse. Learn what to look for to protect your aging parent or loved one’s financial health.

Mysterious financial transactions

If you have access to your mother or father’s bank accounts and she or he does not recognize a recent transaction, something could be amiss. Or, your loved one may show you a bank statement and ask if you remember a transaction or why a document bears your loved one’s signature. It could be declining mental faculties, or someone at the nursing home could take financial advantage of vulnerable residents.

Loneliness

Nursing home residents who do not get many guests could become victims of financial abuse. Someone at the nursing home may wear the guise of a friend to take advantage of a resident’s isolation. In need of friendship, your aging parent or relative could overlook signs of financial exploitation.

Suspicious behavior from relatives

Rather than nursing home staff, it could be other relatives who financially exploit older adults. Relatives who have a history of drug abuse, a criminal past or mental or physical impairments could take advantage of their aging relatives. If any of this sounds familiar for people in your family who visit your loved one in the nursing home, be on the lookout for potential financial exploitation. Be especially mindful if your loved one gives financial control to a relative who may abuse having access to someone else’s money.