Top 4 Tips for Recognizing Elder Financial Abuse

October 31, 2019

Unfortunately, there are predators out there looking for ways tofinancially exploit seniors. Be on the lookout for these four things:

  1. Changes to BankAccounts. Check statements monthly and pay attention to any largewithdrawals. Review the cancelled checks to make sure they were not made out tocash. Make sure no changes are made to the status of the account (new signatureauthorizations, payable on death beneficiaries added, etc.)
  2. Valuables. Regularlycheck on all personal valuables such as jewelry collections, antiques, artwork,etc. Take inventory frequently. Know who is allowed entry into the elder’s homeand keep track of when individuals come and go.
  3. Isolation. If any newperson in the elder’s life attempts to cut him or her off from friends and familyview it as a serious warning. Make sure you are not prevented from checking onfinancials and taking property inventories.
  4. Fear. If your lovedone expresses any type of fear towards other family members, neighbors orcaregivers keep a close eye on the individual. Sometimes elders fear theabusers but are not able to articulate what is happening. Watch thoseindividuals closely. Consider using a “nanny” cam or some other type ofsurveillance.

If you suspect financial elder abuse, consult with anexperienced elder law attorney in the Greater Baltimore area.

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