Whether your parent still lives in their home or has moved into an assisted living or nursing home facility, their comfort often depends on maintaining their financial health. However, strangers, caregivers and even family members may try to take advantage of them in their old age, and their finances could be impacted as a result.
Financial abuse and mistreatment can take many different forms. One recent concern is telemarketing or email scams meant to rob elderly people of their savings. This is not the only way that your loved one may be mistreated, however. They may be threatened, or their money and possessions may be used without their permission. They may even be manipulated into giving gifts or changing their estate plan.
Knowing the signs of financial abuse can be key to protecting your loved one and their comfort late in life. These signs include:
These changes can all be a sign that your loved one is being threatened or manipulated and that their finances are at risk.
If you suspect that your elderly parent is being mistreated, it is essential to respond quickly to prevent further damage. California law offers protection in cases of elder abuse, and reporting your parent’s mistreatment can help hold their abuser responsible, defend their rights and protect their financial safety in the future.