Is your elderly relative being taken advantage of financially?

On Behalf of | Feb 21, 2022 | Estate Planning

As your elderly relatives get older, they are going to require a certain level of care. At the very least, you might need to keep an eye on them to ensure that they are safe and healthy.

Unfortunately, some people opt to target elderly people because they view them as frail and easy targets. People may also single out elderly people because they have accumulated property and savings over the years.

As a family member, this will be of great concern to you and you will want to prevent it. Fortunately, there are some telltale signs that your elderly relative is being taken advantage of financially.

The presence of violence

Some people are very blatant in their exploitation. They may physically abuse or threaten your loved ones until they part with their hard-earned cash and savings. Keep an eye out for any signs of injury, such as cuts and bruises. Your relative might also be extremely jumpy or display a complete change in personality if something is amiss.

A passive approach to the care of your loved one can also produce immense harm. For instance, if your relative relies on a carer to help them take their medication, they could be in danger if that care is withheld until money is handed over.

Bank accounts being emptied

Your elderly relative may hold a number of joint accounts, which financial abusers could target. Financial abuse doesn’t always come from outside of the family. Sadly, relatives can take advantage too. If your elderly relative has accounts that multiple people can access, it might be worth double-checking that nothing untoward is going on.

Elderly people deserve to be treated with dignity and respect and their hard-earned savings should not be placed in danger. If you suspect financial abuse, there are a host of legal options open to you.

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