ATTORNEY NEWSLETTER

Financial Exploitation of Elders: A Crime on the Rise

Financial Elder Abuse

The elderly population in America is steadily growing, as our baby boomers become senior citizens. In fact, about 10,000 individuals turn 65 every single day, which is making “elderly” a very steadily-increasing sector of our population. Yet, sadly, with more elderly individuals, comes more abuse, and financial elder abuse is something that seems to only be increasing as the years pass.

What Financial Elder Abuse Looks Like

Financial elder abuse looks different in every case. However, it is important to understand what it can look like so that you are able to prevent it happening to yourself or your loved ones. We find that oftentimes, the abusers tend to isolate the elderly individual from their family members and friends. This creates a false sense of trust, and it can lead the elder to believe that the individual isolating them is the only one who cares for them. Another common sign of potential elder abuse is a general lack of control of their finances. Maybe they can’t explain certain purchases or they are giving all of their prized and expensive possessions to one individual in particular. And maybe someone is taking advantage of them.

How to Prevent it

To protect our vulnerable elderly population, in Contra Costa County and beyond, we recommend a couple of things. First, ask the senior if they would be okay with you checking their weekly bank statements. Sift through the purchases and try to pinpoint anything that looks uncharacteristic or odd. Chances are: it is. Additionally, keep in contact with the elder and be observant of new friends, family members coming out of the woodwork, or caregivers. It is critical to be concerned about the everyday life of your senior loved one, and who’s around them.

Contact Us

If you or a loved one been the victim of financial elder abuse in Contra Costa County, or in any California county, contact the Evans Law Firm financial elder abuse attorneys at (415) 441-8669, or by email at info@evanslaw.com. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.