Elder Financial Abuse - How to Recognize and Prevent It
Elder financial abuse and occurs in many forms.
Improper use of financial powers of attorney, trickery, manipulation, coercion and undue influence are just some of the ways that bad guys take advantage of the elderly.
Diminished mental capacity.
As the aging process unfolds, elderly people often begin to experience long and short-term memory loss.
This can eventually progress to a diagnosis of some form of dementia or Alzheimer's Disease.
Too often, proper medical evaluation is not performed and the symptoms go unnoticed, particularly when the elder is isolated with little or no contact from friends or relatives.
Loneliness.
Once a widow, or widower, is no longer able to drive, then their ability to leave their home and socialize with others is greatly restricted.
They are psychologically in need of human contact and are often left vulnerable to telemarketers and others who see the elder as "financial prey".
Isolation.
Diminished mental capacity and loneliness lead to a sense of isolation.
These combined factors render the elder susceptible to undue influence and manipulation.
They can easily be lied to, tricked and manipulated into signing documents that transfer ownership of their property or money to a perpetrator.
Often, the elder will sign a document and almost immediately forget that the incident occurred.
Often, neighbors and friends are reluctant to get involved when they suspect that an elderly person is being subjected to financial abuse.
Most financial abuse is committed by the elder's son or daughter, and an outsider often feels that s/he will be subjected to harassment or threats for interfering in "family business".
However, anonymous tips from these outsiders can be given to governmental entities without exposing the party who reports the abuse.
Fortunately, there are ways to prevent such financial abuse once it has been recognized as occurring.
Most states have a governmental entity whose sole purpose is to investigate cases in which an elder is unable to properly handle finances or make sound health care decisions.
These agencies, such as Adult Protective Services, will generally send a worker to the elder's home to conduct an interview, observe the living conditions, and then report to another agency, such as the Public Guardians Office, on whether any outside assistance is required.
Adult Protective Services does not have authority to intervene in legal matters; however, it can make referrals to agencies such as the District Attorney's Office when financial abuse is suspected.
Your local county District Attorney's Office does have the authority to prosecute cases of elder financial abuse.
Normally, an initial report would have been made to the local police department, who then refers it to the District Attorney.
A District Attorney investigator is generally assigned to review the facts and evidence and to make a recommendation.
If it is determined that enough evidence exists to prove a claim of elder financial abuse, then a criminal complaint can be filed against the perpetrator.
Additionally, elder law attorneys can get involved to file civil lawsuits to stop any further abuse and to recover money and property that has been wrongfully taken.
Recognizing elder financial abuse is the first step.
Reporting such abuse to the entities above - mentioned is the next step in preventing such heinous activity.
Improper use of financial powers of attorney, trickery, manipulation, coercion and undue influence are just some of the ways that bad guys take advantage of the elderly.
Diminished mental capacity.
As the aging process unfolds, elderly people often begin to experience long and short-term memory loss.
This can eventually progress to a diagnosis of some form of dementia or Alzheimer's Disease.
Too often, proper medical evaluation is not performed and the symptoms go unnoticed, particularly when the elder is isolated with little or no contact from friends or relatives.
Loneliness.
Once a widow, or widower, is no longer able to drive, then their ability to leave their home and socialize with others is greatly restricted.
They are psychologically in need of human contact and are often left vulnerable to telemarketers and others who see the elder as "financial prey".
Isolation.
Diminished mental capacity and loneliness lead to a sense of isolation.
These combined factors render the elder susceptible to undue influence and manipulation.
They can easily be lied to, tricked and manipulated into signing documents that transfer ownership of their property or money to a perpetrator.
Often, the elder will sign a document and almost immediately forget that the incident occurred.
Often, neighbors and friends are reluctant to get involved when they suspect that an elderly person is being subjected to financial abuse.
Most financial abuse is committed by the elder's son or daughter, and an outsider often feels that s/he will be subjected to harassment or threats for interfering in "family business".
However, anonymous tips from these outsiders can be given to governmental entities without exposing the party who reports the abuse.
Fortunately, there are ways to prevent such financial abuse once it has been recognized as occurring.
Most states have a governmental entity whose sole purpose is to investigate cases in which an elder is unable to properly handle finances or make sound health care decisions.
These agencies, such as Adult Protective Services, will generally send a worker to the elder's home to conduct an interview, observe the living conditions, and then report to another agency, such as the Public Guardians Office, on whether any outside assistance is required.
Adult Protective Services does not have authority to intervene in legal matters; however, it can make referrals to agencies such as the District Attorney's Office when financial abuse is suspected.
Your local county District Attorney's Office does have the authority to prosecute cases of elder financial abuse.
Normally, an initial report would have been made to the local police department, who then refers it to the District Attorney.
A District Attorney investigator is generally assigned to review the facts and evidence and to make a recommendation.
If it is determined that enough evidence exists to prove a claim of elder financial abuse, then a criminal complaint can be filed against the perpetrator.
Additionally, elder law attorneys can get involved to file civil lawsuits to stop any further abuse and to recover money and property that has been wrongfully taken.
Recognizing elder financial abuse is the first step.
Reporting such abuse to the entities above - mentioned is the next step in preventing such heinous activity.
