The problem of financial elder abuse is growing both across the nation and here in California. Investment Protection Trust (IPT) conducted a study that showed that the most common type of elder abuse is committed by family members who steal or divert funds or property. The second most common type of financial elder abuse was committed by caregivers and strangers. As a result of this type of abuse, seniors lose their life savings at the time in their lives that they are most vulnerable. Metlife found that elderly victims lost 2.9 billion dollars in 2010 to financial scams (up from 2.6 billion in 2008). In fact, the problem is so prevalent that the IPT found that as many as 20% of Americans over the age of 65 are believed to have been victims of financial elder abuse. Unfortunately, there is also a large underreporting of this type of abuse because many victims feel too embarrassed to disclose financial abuse.
One way to combat the growing issue of financial elder abuse, both in California and across the nation requires a collaborative effort between caregivers and local health care professionals. There is hope for change via prevention. One of the ways to prevent elder abuse is by training healthcare providers to identify those elders that are most susceptible due to diminished. If you have a case involving elder abuse, please contact the Evans Law Firm.
The Evans Law Firm focuses on elder abuse litigation in the state of California. If you or a loved one has been the victim of elder abuse, contact the Evans Law Firm at 415-441-8669 or e-mail info@evanslaw.com.
