Elder abuse is not always immediately obvious. That is, you may not see physical injuries or hear complaints from your loved one. But sometimes, unbeknownst to your loved one, they may be financially exploited. Follow along to find out the signs that your loved one has been made a victim of financial exploitation and how a proficient California elder abuse lawyer at Cowdrey Jenkins LLP can offer protection.
Why may financial exploitation occur in an elderly home?
The financial exploitation of an elder is considered to be the illegal or improper use of the elder’s money, property, or other financial resources for one’s (i.e., a caregiver’s or family member’s) monetary benefit, profit, or gain. It is an unfortunate truth that individuals in the elderly community are commonly made victims of financial exploitation because of their great vulnerability.
Such exploitation can occur in just about any setting, whether it be from a caregiver at a nursing home, assisted living, or memory care facility. It can even occur unpromptedly in the comfort of their own home, in the case that a family member is the at-fault party.
What are the signs of financial exploitation in an elderly home?
Because your loved one may be vulnerable, you must look out for them and ensure that their assets are protected. With that being said, signs of financial exploitation that you should pick up on include the following:
- Your loved one expresses that a family member or caregiver has been asking them questions regarding their finances.
- Your loved one expresses that they lost valuable personal items (i.e., jewelry) or cash.
- Your loved one expresses that they cannot afford adequate care despite their adequate retirement savings and other financial resources.
- Your loved one expresses that they are confused about the state of their finances.
- Your loved one had a check returned for insufficient funds and they are unsure why.
- Your loved one intentionally or unintentionally signed legal documents (i.e., estate planning documents, bank documents, etc).
- Your loved one intentionally or unintentionally transferred their assets to another party.
- Your loved one intentionally or unintentionally relinquished their ownership of their property.
- Your loved one withdrew a significant amount of money from their bank account without a sensible explanation.
What should I do if my elder is being financially exploited?
It is important to detect signs of financial exploitation early on before all of your loved one’s assets are depleted. Nonetheless, if you need to take legal action so that you can recover the retirement savings, or otherwise, that your loved one worked so hard for, then you must seek representation from a talented California elder abuse lawyer. We will know exactly what legal action to take, so do not hesitate in reaching out to us.