Seniors get old and lose their ability to distinguish between things. So they are unable to detect from trustworthy and bad friends. And they even lose the natural human tendency to distrust strangers.
Also, elders often rely on others for their care and well-being. Sometimes a trustee, a lawyer, or friend will help them with financial responsibilities. And this places them in a vulnerable position.
They are dependent and trusting. And they can easily be taken advantage of by people they entrust. Often a person who oversees financial help goes rogue.
So instead of being treated with respect and care, the senior gets ripped off. And the financial abuser can be a family member, caregiver or nursing home staff. This article discusses some of the scenarios that lead to defrauding of elders and their kin.
What are Some of the Many Forms of Deception and Theft Used to Steal From Seniors?
Financial elder abuse can take several forms including:
Obviously, a lawyer, old or even new “friend,” or family member can do this the easiest.
It can be a family member or even a shifty lawyer convincing the parent or relative to place their assets into their name.
But when the elder dies, this leaves siblings or family members from property rights. Because of this abuse, this leaves one family member owning all properties.
This can also be a caregiver and not a member of the family. But this person financially gains by convincing the elder to sign over property to them.
Another type of elderly financial fraud elders suffer is outright theft. Thieves convince them to take money from their wallet or purse. Then they dupe elders to buy items or memberships they cannot use.
These things are often done without the elderly person’s consent.
Sometimes they just feel defenseless.
So they agree to let this person take cash or charge items.
Phone Scams or Even Medical Fraud:
Financial elder abuse can be in the form of:
Telephone marketing or identity fraud.
But it can also include medical fraud.
All of this takes funds from the trusting elderly person. These tactics put pressure on the elderly person. Often they feel they have no choice. So they give out financial information.
Spotting the Abuse Is Very Difficult:
The elderly victim normally will not accuse their financial abuser. Hence, it falls on families to expose it with the assistance of a financial abuse attorney.
It is important to stop financial elderly abuse. And when a family believes a loved one was taken advantage of, they get legal help. So contact a financial elder abuse attorney if that happens. This is a legal counselor that can discuss the legal options available.
And he or she can advise the steps to take to recover the property too. Even if it was a friend that trusted the wrong person, they deserve help. We hope you have enjoyed our discussion on identifying financial exploration of elders.
As you can see how it also can ruin relations with and their legal heirs. So when an elderly family member or friend might be a victim of financial elder abuse, contact us.
Then, a financial elder abuse attorney can discuss the situation. Hence, we will be able provide legal options to remedy the situation. So we then can protect the graying, and vulnerable victim’s rights Call Ehline Law Firm now at (213) 596-9642. Learn if you have a case.