The Signs of Financial Elder Abuse

Elder Financial AbuseHere at Encompass, we work to prevent elder abuse. Elder abuse can take several forms, but its most common form is financial abuse. In a 2011 survey, seniors stated that financial exploitation was the most frequent type of abuse they experienced. Financial elder abuse is broadly defined as illegal or improper use of a 60+ individuals funds, property, or assets. It is common for seniors to be scammed by strangers, silently robbed by caretakers, or finically abused by their own family. Sometimes the victim is aware of the abuse, but feels threatened or trapped. Other times, the abuse goes undetected and is only caught after hundreds of thousands of dollars have been taken. Some experts believe that financial elder abuse is currently on the rise. This may be due to the greater number of seniors along with the economy making people more desperate.

At Encompass, we know the preventative measures to take against financial elder abuse. We also are experts at spotting it. There are 6 signs of financial elder abuse we typically look for right away. Here are 4:

  • Large withdrawals from savings and or banking accounts
  • Unusual gifts made to same person
  • Checks written in different handwriting than the signature
  • Buying large quantities of gift cards

If you think that you or a loved one is at risk of being financially abused or is currently being financially abused, contact us. At Encompass, we have experience handling elder abuse and can help advice you on the best way to proceed with your concerns. Mandatory and voluntary reporting of elder abuse is governed by individual state law, rather than federal legislation so Encompass can help explain exactly how elder abuse is handled in Nebraska and what resources the state provides.

“Encompass Senior Solutions solves the challenges families face in caring for aging parents, with a focus on strategies that keep them in their homes. To learn more about our solutions, visit http://www.encompass-assessments.com.”