Financial Exploitation of the Elderly

Do not ignore your fears if you have reason to suspect that your elderly family member, friend, or neighbor is being financially exploited by a caretaker or another individual. Investigate the situation or talk to the authorities right away. You can also talk to a New York and New Jersey nursing home abuse lawyer about the victim's legal options. Financial exploitation is a serious and - some experts believe - a largely unreported area of elder abuse.

Signs that could indicate the financial exploitation of an elderly victim include:

  • Missing items in the senior's home
  • Sudden changes in the senior's last will and testament, including changes to the power of attorney
  • Substantial withdrawals from the senior's checking and saving accounts
  • Unpaid bills signifying a change in the senior's economic situation

How widespread is financial elder abuse?

One study conducted by the National Association of Adult Protective Services Administrators for the National Center on Elder Abuse in 2000 found that financial abuse constituted 13 percent of elder abuse accusations investigated by authorities. Many experts believe that much financial exploitation of elderly victims is never reported. Further research needs to be conducted in order to ascertain more about this form of elder abuse.

Fighting for Your Rights in New York & New Jersey

If you have reason to believe that you or an elderly friend or family member is suffering abuse of any kind, including financial abuse, talk to an attorney with experience in elder abuse law. At Morelli Law Firm, our lead nursing home abuse attorney has more than 14 years of experience in the legal industry. Our highly regarded law firm has received inclusion in some of the nation's most prestigious legal lists and organizations, including Super Lawyers®, The Best Lawyers in America®, and The National Trial Lawyers "Top 100 Trial Lawyers."

Contact us to set up a free case evaluation today.