Posts Tagged Financial Elder Abuse

Let’s start with a definition. Financial elder abuse, also known as material exploitation, is the illegal or improper use of an elderly person’s funds, property, or assets. Examples of this type of abuse include, but are not limited to:   Cashing an elderly person’s checks without authorization or permission Forging an older person’s signature Misuse or theft of an older person’s money or possessions Deceiving or coercing an older person into signing any document, such as a contract, will, title, etc. Telemarketing scams. This can involve making exaggerated claims about investment returns, scare tactics and other fraudulent acts to get seniors to send the perpetrator money or credit card information The improper use of conservatorship or power of attorney   It is estimated that every year some five million seniors fall victim to financial elder abuse. The number of victims may well be considerably higher. Many seniors are unaware that