Financial Abuse of the Elderly in California

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It is common for individuals in America to work hard and save their money throughout their life. Whether it’s putting money aside for retirement, saving funds for children, or just being financially prudent, a person can save a large sum. However, not everyone is as respectful of an elder’s money. Thieves are likely to target the elderly because they are vulnerable and may not have tight control over their funds.

Elderly financial abuse unfortunately occurs all too often. A study conducted by the MetLife Mature Markey Institute and National Committee for the Prevention of Elder abuse found that on average, the elderly lost $2.6 billion dollars a year due to financial abuse. Patients in nursing homes often cannot make big decisions without the help of others, which puts them in a vulnerable state, allowing others to take advantage.

If you believe that your loved one has been taken advantage of financially, contact our elder abuse lawyers today. We will review your case for free.

Common Signs of Financial Abuse

There are many ways to detect financial abuse of the elderly. If you have access to their account and notice suspicious activities, it can be because someone is exploiting your loved one.

Signs of financial abuse include:

  • The patient’s living conditions do not reflect what they can afford
  • Checks are written to a particular organization/company consistently
  • There are money transfers that can’t be explained
  • Unexpected changes in the patient’s will or financial documents
  • There are additional names on financial documents that were not there before

At Bostwick & Peterson, LLP, we understand the danger and anxiety that comes from entrusting the care of the elderly to someone else. If you believe that your loved one is being financially abused, contact the California nursing home attorneys at our firm today. We will review your case and inform you of your legal rights!

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