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How to Spot Financial Elder Abuse

How to Spot Financial Elder Abuse

Elderly woman with daughter and text on image. As our parents age and become grandparents, it is very important to be mindful of things that may not always be so obvious. Elder abuse happens more commonly than you would think and it isn’t always easy to spot.  “In fact, one out of 10 older adults worldwide experience some form of abuse.”*

What is elder abuse?

Elder abuse can be defined as “a single, or repeated act, or lack of appropriate action, occurring within any relationship where there is an expectation of trust which causes harm or distress to an older person.”** These abuses can be physical, mental, psychological and even verbal.

As a person ages, their health, mental and emotional stability begins to deteriorate. The decision-making process can be hard for them and because of this some people may seek to take advantage of their weakened state.

Financial elder abuse

Some things to watch out for with elder financial abuse are things like:

  • Suspicious changes in wills or power of attorney
  • Financial activity the person couldn’t have done herself
  • Bills not being paid
  • Significant withdrawals or unusual purchases

If you see you any of these signs or suspect that someone is a victim of elder abuse please reach out other family members or the Eldercare Locator abuse hotline: 1-800- 677-1116. If you or an elder needs immediate assistance, then please call 911.