10 Warning Signs of Financial Exploitation


The National Center on Elder Abuse defines Financial or Material Exploitation as:

The illegal or improper use of an elder’s funds, property or assets.

Examples include, but are not limited to, cashing an elderly person’s checks without authorization or permission; forging an older person’s signature; misusing or stealing an older person’s money or possessions; coercing or deceiving an older person into signing a document (e.g., contracts or will); and the improper use of conservatorship, guardianship, or power of attorney.

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The Center lists the following warning signs and symptoms of exploitation and other forms of financial abuse:

Sudden changes in bank account or banking practice, including an unexplained withdrawal of large sums of money by a person accompanying the elder;
The inclusion of additional names on an elder’s bank signature card;
Unauthorized withdrawal of the elder’s funds using the elder’s ATM card;
Abrupt changes in a will or other financial documents;
Unexplained disappearance of fund or valuable possessions;
Substandard care being provided or bills unpaid despite the availability of adequate financial resources;
Discovery of an elder’s signature being forged for financial transactions or for the titles of his/her possessions;
Sudden appearance of previously uninvolved relatives claiming their rights to an elder’s affairs and possessions;
The provision of services that are not necessary; and
An elder’s report of financial exploitation.

Source: The National Center on Elder Abuse, Administration on Aging

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About Lark

I was born at a very young age.

Posted on March 23, 2012, in Administration on Aging, Elder Abuse, Exploitation, Fraud, Law and tagged , , , , , , , , , , , , , . Bookmark the permalink. 1 Comment.

  1. florence iverson

    The only consolation I had was that my parents estate went to someone in the family. I was bilked;but, I came out ahead. During the Deprssion of the 30’s while in High School, I made $18.00 a month mortgage payments on my parents home. My mother said,”If it wasn’t for you Florence,we would have lost our home”. Today I have my sister and her family that look out for me. I try to be very independent and ask for very little. Like I tell them. I lived thru the big depression and know how to make little rags out of big ones.

    Like

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