Has Your Loved One Suffered Financial Abuse?
Elder abuse is a recurring issue within our society. While abuse comes in various forms, seniors are often targets of financial exploitation. However, financial abuse can be challenging to detect if your loved one’s finances are not reviewed often. According to the National Center on Elder Abuse, “Only one out of twenty-five cases of financial exploitation are reported.”
If you’re concerned about a senior relative being taken advantage of financially, we want to empower you with the knowledge to protect them and take action on their behalf.
At Stewart Bell, PLLC, we understand that your elderly loved one is vulnerable to financial abuse, and without legal representation, their finances can continue to suffer. Our elder abuse lawyers can help your elderly loved one receive the compensation they rightfully deserve after their suffering.
What Is Elder Financial Abuse?
Elder financial abuse is a type of abuse that targets the finances of an older individual. Financial abuse is not uncommon amongst the elderly, but oftentimes can go unnoticed if they do not consistently check their finances.
Financial abuse can occur in multiple ways including scam telephone calls, unapproved bank transfers, and forgery. It’s imperative your elderly loved one is aware of the risk of financial abuse and how to spot it before it happens to them.
Ways to Spot Financial Abuse
Financial exploitation can be difficult to detect, and your loved one may not realize they are part of an abusive situation. It’s important to ask questions and take any sign of abuse seriously. Below are warning signs to look for when helping your loved one spot potential signs of financial abuse:
- Signatures on checks that don’t match the elder’s signature
- Large amounts of money withdrawn from their bank account
- Uncommon ATM activity
- Unusual bank account transfers
- Lack of funds or unpaid bills
- Account closures
- Loss of property
If you detect any of these signs, your elderly loved one may be suffering from financial abuse. It’s in your best interest to seek legal advice to discuss what options are available.
Tips to Help Your Elderly Loved One Protect Their Finance
In order to protect the finances of your elderly loved one, you must both be aware of the numerous ways to prevent financial abuse:
- Review bank accounts often
- Always shred receipts, unused credit card offers, and bank statements that contain personal information
- Review your credit report
- Don’t make a major financial decision without details and proper financial guidance
- Never give personal information over the phone, unless the caller is trustworthy
Our Seniors Deserve Justice
If you believe your elderly loved one is suffering from financial abuse, you need the help of a West Virginia elder abuse lawyer. Countless cases go unreported, so if you detect any sign of financial abuse, don’t hesitate to contact our firm. Stewart Bell, PLLC can help you seek justice for the abuse your loved one endured.
We understand you want your elderly family member to be in a safe environment with people who care about their well-being. Unfortunately, there are many individuals and businesses that may try to take advantage of them. If this has happened to you, call our office today or request a free consultation.
