Financial Exploitation

In Connecticut, the elderly population is growing exponentially, and for those currently residing in the state, elder financial abuse is a serious threat. Older individuals are often isolated in a nursing home, far from the careful watch of family and friends, leaving them vulnerable to financial exploitation by nursing home caregivers.

Nursing home residents and elderly individuals are attractive targets for financial abuse because many do not realize the value of their assets and often depend on others, so they can be easily influenced.

At Czepiga Daly Pope & Perri, we can help victims who have fallen prey to elder abuse and financial scams. If you believe that your loved one is a victim of financial abuse at a nursing home or in their own home by a caregiver, call us immediately. We can fight aggressively to protect the legal rights of your loved one and prevent any further financial abuse from happening.

Types of elder financial abuse

Financial abuse, exploitation, embezzlement and caregiver theft against elder adults and nursing home residents can take many forms. Commonly, financial crimes against elder adults include:

• Getting an older person to sign a power of attorney, will or deed by using coercion or deception
• Forging a signature on financial documents or assets
• “Borrowing” substantial amounts, including money or an older person’s property without permission
• Promising lifelong care in exchange for property
• Telemarketing or investment scams that scare older individuals into sending money
• Charging credit cards without permission or under false pretenses

Recognizing Signs of Elder Financial Fraud

Elderly financial abuse is not limited to nursing home residents. And nursing home staff is not the only ones financially conning older individuals. Financial abuse is often committed by people closest to the elderly victim — care providers and family members.

Because your loved one might be susceptible to financial abuse at the hands of someone on whom he or she depends, it is important for you to look for patterns that suggest a problem might exist. Indicators of financial abuse include:

• Bank account transfers or withdrawals that the account holder cannot explain
• New "best friends" or increased mention of people you've never heard of
• Repeat unpaid bill notices
• Sudden creation or signing of legal documents such as powers of attorney or wills
• Other unusual bank account activity
• A care provider expressing unusual interest in an older person's financial affairs
• Missing property, possessions or money
• Suspicious signatures on checks or other documents
• An elder adult not knowing about or understanding financial arrangements that have been made

If you suspect that a loved one may be the victim of elder abuse or financial fraud by a caregiver, you need to act quickly and contact us.

Related Information:
How to Protect Yourself from Elder Financial Abuse
Elder Abuse: If You See Something, Say Something. Or Else.
Identifying and Preventing Financial Exploitation of the Elderly
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