Do you know an older person who is isolated, home-bound, female, and / or deteriorating health? They might be at greater risk for Elder Financial Abuse.
Who typically commits elder abuse:
- family members or friends
- person in a position of authority who has the older persons trust
- nursing home staff or caregivers
- complete strangers
Perpetrators may pretend:
- the elder has won a prize
- a family member needs the money
- they are connected to their bank
- are a contractor to make repairs
Why do people commit Elder Abuse:
- Fear the elder wont save money for their family
- feel the belongings are rightfully theirs
- have financial difficulties, gambling issues or addictions
- want to keep other family members from inheriting
If you think an older person in your life is being abused, look for the warning signs like:
- forgeries on signed documents
- getting charged too much for services
- sudden change of a will or bank accounts
- having financial problems or unable to pay bills
- using possessions without permission
- unauthorized charges on credit cards
- sudden changes in financial decisions
If you notice changes like these, don’t wait, take action immediately to keep your older friend safe!
How to protect your older friend:
- order copies of your credit report at least yearly
- don’t rush into financial decisions
- get to know your financial partners and build a relationship with them
- pay bills with checks and credit card to keep a paper trail
- never give up personal information
- shred paper documents with important account info
- feel free to say “no”
- trust your instincts