Ideally, the individuals who are in charge of taking care of an elderly person should do everything that they can to provide this person with the best possible care. If you have an elderly parent or other loved one who is under the care of someone else, such as if he or she is in a nursing home, then you might have put in a lot of work and research to try to find the perfect facility or the perfect caregiver. Unfortunately, sometimes, even if you do your research to try to find the perfect person to provide care for your elderly loved one, things can go wrong. For example, one thing that you have to worry about is financial exploitation
Older Americans, on average, are much more wealthy than younger Americans. Unfortunately, many of these elderly people are put into situations in which they are at risk of being taken advantage of in a financial way. This is a surprisingly common problem and is definitely something that you should be concerned about if you have an elderly loved one.
As someone with an elderly loved one who is in a nursing home or who is being cared for, even part-time, by a caregiver, it is important to watch out for the warning signs of abuse or neglect. However, even though you might have looked out for physical signs of abuse, you might not have thought about the possibility of financial exploitation being a problem. If you pay attention, though, there are various red flags that you can look out for. These are some of the potential signs of financial exploitation that you should watch out for.
As you can see, there are various red flags that you can watch out for. If you have noticed any of these things or if matters seem to be amiss in other ways, you should not just ignore the situation. In many cases, these situations do not get better on their own. Instead, they usually get worse, particularly if the perpetrator thinks that he or she is getting away with it. If you don’t take action, then your loved one’s bank accounts could be slowly drained dry.
It’s important to do what you can to prevent financial exploitation from being an issue with your elderly parent or other family member. For one thing, it is important to be careful about who you trust in regards to your loved one’s money and care. For example, if your loved one has an in-home caregiver, consider handling your loved one’s bills and finances yourself or assigning this job to another trusted family member. Then, the caregiver can simply focus on providing day-to-day, non-financial-related care. If you choose a nursing home, making sure that you do your research and choose a reputable facility is important. Additionally, checking in on your loved one’s finances from time to time and watching out for warning signs is also important.
If you think that your loved one is being financially exploited, then it is important to take action. In some cases, criminal charges can be filed, such in the case of theft or forgery. Other situations can be more complicated, however. Regardless, this is not something that you should try to handle on your own. Instead, consider hiring a San Diego elder financial exploitation lawyer who has experience in handling cases like this. Then, you can get professional help with handling the situation and protecting your loved one’s finances in the future.