Elder financial abuse is a crime under some state laws, but it can also be the subject of a civil lawsuit against the perpetrator. The National Center on Elder Abuse defines Elder Financial or Material Exploitation as “the illegal or improper use of an elder’s funds, property, or assets.” Examples of elder financial abuse include:
- Cashing a check without permission
- Taking a loan in that persons’ name
- Taking or selling property without authorization
- Forging an older adult’s signature
- Deceiving or coercing an older adult into signing a document
- Using property or money without permission
Some of the common crimes charged in an elder financial abuse case include:
- Identity theft
- Insurance fraud
- Filing or offering false statement
- Criminal contempt
- Scheme to defraud
If you suspect elder financial abuse, we strongly urge you to contact local law enforcement agencies to report the crime. We also urge you to call our Louisville elder financial abuse attorneys for a free consultation. Call 1-888-761-7204 for more information.
Signs of Elder Financial Abuse
Elderly persons are at risk for financial abuse for several reasons. Many seniors face isolation, loneliness, and recent losses that can make them more susceptible to financial abuse. Also, lack of knowledge of financial matters, physical disabilities, and mental disabilities also make some elderly persons susceptible to elder financial abuse.
Signs of elder financial abuse you should watch for include:
- Unpaid bills and/or late notices
- Bank statements no longer come to the home address
- New legal documents the person does not understand or does not remember signing
- Unexplained withdrawals from bank accounts or transfers between accounts
- New charge accounts in the person’s name
- Unusual activity in checking accounts or other accounts, such as large purchases, ATM withdrawals, or other transactions the person doesn’t remember
- New “best friends”
- Excessive expenses for caregivers
- Signatures on documents or checks that do not match previous signatures
- Inadequate explanations given by a caregiver for suspicious activity
- Missing property
The above list is not a complete list of signs that may indicate elder financial abuse. If you have a “gut feeling” that something is wrong, follow up on your suspicions. In many cases, it is a subtle sign that something is “just not right” that tips off a loved one to elder financial abuse.
You can get more information about this type of elder abuse by visiting the following websites:
- National Institute on Aging
- American Bankers Association
- Stop Fraud (Financial Fraud Enforcement Task Force)
- Kentucky’s Office of Senior Protection
- Kentucky Cabinet for Health and Family Services
You may also get more information about elder financial abuse and other forms of nursing home abuse by contact our office to speak with an experienced Louisville elder financial abuse attorney.
Call for A Free Consultation
If you suspect elder financial abuse or another type of nursing home abuse, our Louisville elder abuse attorneys want to help. Protecting the elderly and vulnerable persons from abuse and neglect is a top priority for our law firm. We take this mission very seriously. Please contact the Shelton Law Group by calling 1-888-761-7204 or by using our online contact form.
Your initial consultation does not cost anything. Therefore, you have no reason not to contact our office to speak with a Louisville elder abuse attorney about your loved one.