Risk Factors for Financial Elder Abuse

According to a recent study reviewed in Forbes, over 5% of senior Americans are financially exploited by family members each year and an even greater percentage are defrauded by strangers. Spotting financial elder abuse is not always easy, and sadly the harm may be severe before any abuse is detected. If you’re steadily involved in your senior loved one’s life, however, you may be able to spot abusive behavior before it’s too late. We’d like to share some of the warning signs of the potential for abuse covered in the Forbes article.

To begin with, experience shows that seniors are particularly vulnerable, whether they are living in San Francisco or elsewhere. There are several explanations for this. One is poor physical health. Sickness often distracts the elderly from keeping track of other aspects of their life, such as their financial affairs. It also makes them more dependent on others. Secondly, many seniors suffer from cognitive impairment. Short-term memory loss, inability to concentrate, problems with math, frequent confusion, and poor eyesight all combine to make seniors easy prey to swindlers

Also, seniors may have difficulty with carrying on daily life activities without help. Shopping, transportation, cooking, dressing, and bathing by themselves may all be beyond reach. Enter the need for caregivers and yet another opening for physical and financial abuse in San Francisco County and everywhere, frankly. Keep a close eye on your senior loved ones as they move into this stage of their life. If you need to find a caregiver for them, be cautious in your selection and always monitor their activity. Whatever you do, don’t abandon the senior to around-the-clock care of a stranger.

And beware of social isolation. It’s another breeding ground for potential abuse and exploitation. Keep your loved one active and around others. Encourage group activities and help them maintain their network of established connections with friends, family, and neighbors who’ve known them for a long time. An old network of friends and family can act as watchdogs and deter potential perpetrators from gaining undue influence over the senior. Elder abuse can happen quickly in isolation so avoid it at all costs.

Contact Us

If you or a loved one has experienced financial elder abuse in San Francisco County or in any California county, contact the Evans Law Firm financial elder abuse attorneys at (415) 441-8669, or by email at info@evanslaw.com. Our attorneys have experience with elder abuse, complex financial contracts, and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.

Here’s a link to the Forbes article:

http://www.forbes.com/forbes/welcome/?

toURL=http://www.forbes.com/sites/johnwasik/2017/02/12/4-risk-factors-for-elder-financial-abuse/&refURL=&referrer=