Financial Exploitation of the Elderly by Family Members

Phoenix nursing home neglect lawyer

Unfortunately, elder abuse is very common in America today. One of the most heinous forms of this abuse is financial exploitation of the elderly by close family members. Most people think their elderly family members are safe when cared for by another loved one, but sadly this isn’t always the case.

Children, grandchildren, and even nieces and nephews of the elderly person are common perpetrators of financial exploitation. This is because they have easy access to the elderly person’s financial records and can take advantage of their trust. In fact, 90% of the time the abuser is someone that the elderly person knows and trusts, according to the National Adult Protective Services Association.

Common Exploits

Some common techniques family members will use to exploit their elders are:

  • Denying medical care to the elderly person in order to keep the money for themselves
  • Misusing joint bank accounts and avoiding the elderly person’s needs while buying extravagant things for themselves
  • Abusing Power of Attorney for their own financial gain
  • Paying their own bills without the elderly person’s knowledge
  • Denying the elderly person proper food and nutrition in order to save money

Financial Abuse

Sadly these are only a few techniques family members will use to exploit their elderly relatives. And financial abuse often goes hand-in-hand with neglect. As discussed above, elderly adults can be denied medical care and even food along with financial abuse.

If you or a loved one has suffered financial exploitation or abuse by a close family member, you may be entitled to financial compensation. Contact an attorney today and discuss your options with a team of skilled lawyers. We will work to bring justice to victims of financial exploitation and to punish the perpetrators of financial abuse of the elderly.

Many people don’t realize that victims of this crime can suffer long-term effects as a result. Some of these potential issues are:

  • Depression
  • A feeling of guilt or thinking that the crime was “their fault”
  • Loss of trust in others
  • Lingering feelings of fear
  • Permanent loss of home
  • Anxiety
  • Feelings of failure
  • Loss of confidence

Law Enforcement

Elderly victims of financial exploitation may feel like they’ll never be able to trust anyone again. However, with a good support network their trust and hope can be restored. If you or someone you know has suffered from financial exploitation, contact your local law enforcement officials immediately. With proper evidence of the crimes, they will work closely with banks and other organizations to reveal the abuse and to bring the perpetrator to justice. No one should feel like a victim at the hands of their own family members.

We Can Help

If your life has been impacted by any of these unfortunate effects caused by financial exploitation, call a skilled Phoenix nursing home neglect lawyer or nursing home abuse lawyer today.

There is hope for anyone who has made it out of an abusive situation.

Alex & Saavedra, P.C. Thanks to our friends and contributors from Alex & Saavedra, P.C. for their insight into elder law and personal injury practice.

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