What You Should Know About the Dynamics of Financial Elder Abuse



1. The perpetrator is someone whom the senior often knows, trusts, and is in an on-going relationship with, such as a spouse or partner, family member, neighbor or caregiver.
2. “Perpetrators will often strive to exert their power and control over victims so they can coerce or manipulate some benefit for themselves such as money, a place to stay, access to prescription medication, or sexual gratification (Bancroft 2002; Stark 2007)” (www.ncall.us)
3. The exertion of power and control is not always obvious. It may look like a polite person with a “genuine need” but with a sense of entitlement, who guilts the senior into meeting their ongoing financial obligations.
   
   

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1. Most often it is the adult children who financially exploit their aging parents. Therefore, the abuse goes unreported  (www.elderabusecenter.org)

The National Center on Elder Abuse [1] defines financial or material exploitation as the illegal or improper use of an elder's funds, property, or assets. Examples include, but are not limited to: cashing an elderly person's checks without authorization or permission; forging an older person's signature; misusing or stealing an older person's money or possessions; coercing or deceiving an older person into signing any document (e.g., contracts or will); and the improper use of conservatorship, guardianship, or power of attorney.

Signs and symptoms of financial or material exploitation include but are not limited to:

• Sudden changes in bank account or banking practice, including an unexplained withdrawal of large sums of money by a person accompanying the elder;
  
• The inclusion of additional names on an elder's bank signature card;
  
• Unauthorized withdrawal of the elder's funds using the elder's ATM card;
  
• Abrupt changes in a will or other financial documents;
  
• Unexplained disappearance of funds or valuable possessions;
  
• Substandard care being provided or bills unpaid despite the availability of adequate financial resources;
  
• Discovery of an elder's signature being forged for financial transactions or for the titles of his/her possessions;
  
• Sudden appearance of previously uninvolved relatives claiming their rights to an elder's affairs and possessions;
  
• Unexplained sudden transfer of assets to a family member or someone outside the family;
  
• The provision of services that are not necessary; and
  
• An elder's report of financial exploitation.

Source URL: http://www.ncall.us/content/financial-exploitation
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