Caring for elderly relatives poses a tremendous financial and emotional challenge for loved ones. The fact that other family members and workers that we employ to take care of the elderly would use that position to steal money, property, and assets compounds this responsibility. Unfortunately, elder financial abuse is a frequent problem but is also one that can be prevented by putting in place a series of effective precautions. If you have an elderly family member that has been the victim of financial abuse, contacting an experienced Mississippi personal injury attorney is vital to making your loved one and you whole.
Defining Elder Financial Abuse
Elder financial abuse can take many forms but includes forging signatures on checks, draining bank accounts, stealing assets, and taking control of property. The quintessential victim is over 80 and lives alone. Because many people at this age are suffering from some form of mental diminishment, they are often either not aware of the theft, unwittingly participate in it, or are not believed when they discovering it happening. The culprits can either be nursing staff employed to care for the elderly or the elderly person’s own family.
While we categorize elder financial abuse as theft and treat it like any other crime driven by greed or desperation, there are nuances to it as well. A family member caring for an elderly family member may be missing work to provide that care, may incur significant expenses associated with that care, and may feel that they are “owed” money. These family member caregivers often take money or assets from the elderly family member in their case as a form of payment. This is also illegal, however, and is just another form of elder financial abuse.
What are the Signs that Elder Financial Abuse is Occurring?
Being alert to the signs that elder financial abuse is occurring is important to preventing it. Read and review bank statements and be concerned if banks stop sending them. Also be on the lookout for an increase in credit card offers. Your elderly family members are unlikely to be using credit cards frequently, yet the companies send these offers as a result of increased use. Is your loved one’s checkbook accessible and balanced? Are the signatures on the checks clearly his or hers? Keep an accounting of high value assets such as jewelry and firearms that are easy to sell for cash, and if they disappear or “go missing” be concerned.
If you suspect that someone is financially victimizing an elderly loved one, contact legal counsel immediately. A lawsuit or claim against a health care provider may be necessary to protect your interests. It is possible to protect your loved one and recover the funds for property that was taken, but not without expert help and advice.
What Should You Do a Loved One is the Victim of Elder Financial Abuse?
If a loved one has been the victim of elder financial abuse, quickly receiving the compensation to care for them and that they are due will require consultation with an experienced personal injury attorney. Trying to “go after” the culprit on your own will lead to frustration and a settlement that is a fraction of what you deserve if you receive anything at all.
Call Barrett Law now, an experienced Mississippi personal injury law firm, to represent you if a loved one has been the victim of elder financial abuse.
Contact us now at (601) 790-1505, to get experienced counsel on your side.
