Kansas City Financial Elder Abuse Attorney
Elder financial exploitation is a growing type of abuse in nursing homes with disabled residents. Financial abuse of vulnerable elders is complex and can take many different forms. The two main types of financial elder abuse are pure financial exploitation and a hybrid form involving a
combination of financial and physical abuse. Elders who are physically dependent on the care of a nursing home have a higher chance of suffering hybrid financial abuse.
Pure financial exploitation can come from complete strangers or relatives or trusted friends of an elder in a nursing home. Strangers may contact your loved one within the nursing home with scams such as fake lottery ticket winnings, fake charities, and other ways of stealing money. Professionals at the nursing home may also participate in pure financial exploitation by tricking residents, taking advantage of a close relationship, or stealing sensitive banking or identity information.
Hybrid financial exploitation is the worst kind of financial elder abuse. In nursing homes, employees might threaten to abandon, harm, or injure the victim unless he or she agrees to give up some amount of money. An employee might withhold or refuse care to a resident unless he or she is paid off or refuse medical services for the victim to keep assets available.
Sadly, the most common case of hybrid financial exploitation takes the form of a relative victimizing a loved one by mentally or physically abusing him or her to get money. Relatives take advantage of a trusted relationship and use it as leverage against a vulnerable elder.
Signs of Financial Abuse
Indicators of financial elder abuse don’t end with financial ramifications. If you don’t have access to your loved one’s financial records, you can still look for signs that he or she is being financially exploited or abused. If your loved one has a sudden loss of trust in others, feels insecure in his or her residency, shows signs of depression or fear, or expresses feelings of worthlessness, shame, or self-doubt, he or she could be a victim of a financial scam.
Communicate with your loved one and listen to his or her comments and concerns. Don’t trust your loved one’s financial information with anyone except the beneficiary. Try to gain access to your loved one’s finances, and check for signs of unusual activity, such as unexplained decreases, large amounts of money missing, or billing discrepancies.
Financial exploitation can come from the nursing home itself, nursing home employees, trusted relatives, or complete strangers. Unfortunately, your loved one’s assets are always at risk of exploitation by people who take advantage of elder vulnerability and disadvantages—especially if he or she is dependent on others. Protect your loved one from financial exploitation and abuse by hiring a skilled attorney to investigate your case.
Protecting Your Loved One Against Financial Abuse
Financial scammers who partake in elder abuse can be cunning, even going as far as to convince a person with dementia to change his or her will. These lawsuits can be complex and damaging to everyone involved, causing financial distress and mental or emotional strain. Preparing yourself and your elderly loved one for the possibility of falling prey to a financial scam or abuse situation is the best way to avoid one.
Talk to your loved ones about not trusting new friends or employees who try to convince them to give up money or sensitive information. If your loved one isn’t of sound mind, hire an attorney to file the correct paperwork to safeguard his or her assets against fraud.
At Fowler Pickert Eisenmenger, LLC, we understand finance law and commit our resources to securing compensation for seniors who are financially abused. We have experience representing victims of financial elder abuse in Missouri and Kansas, and we know how to stand up against injustice in court. Contact us for a free consultation concerning your loved one’s financial security.