Many nursing home residents are at risk for various forms of financial abuse. They are often more vulnerable to being tricked or coerced into signing over assets or having someone steal their money or property. Sometimes this is because of severe mental health issues and other times it is just a result of their age. Below, you can learn more about elder financial abuse, including who the perpetrators are and the signs abuse is occurring. If you think your loved one has been the victim of nursing home abuse, contact the Silver Spring nursing home abuse attorneys of Goldberg Finnegan. Request a free, no obligation consultation now to learn how we can help you pursue compensation.

What Is Elder Financial Abuse?

Elder financial abuse is the act of illegally or improperly using someone else’s assets, funds or property. Anyone who has access to a resident’s assets can commit elder financial abuse. This includes:

  • Caregivers
  • Doctors
  • Nursing home staff
  • Lawyers
  • Family members
  • Friends
  • Business people

There are many different forms of elder financial abuse, including:

  • Stealing possessions and/or money
  • Identity theft
  • Using fraudulent means to take control of the resident’s assets
  • Coercing the resident to transfer property or assets
  • Opening financial accounts in the resident’s name without permission
  • Improperly using power of attorney
  • Using the resident’s funds without permission
  • Coercing the resident into signing over power of attorney, deeds to property or wills
  • Forging signatures on checks or documents
  • Telemarketing scams asking the resident to send money

How to Identify Elder Financial Abuse

Nursing home residents are often unaware they are victims of nursing home financial abuse. Even if the resident knows what is going on, he or she may be afraid to tell someone for fear of retaliation. It is important to know the signs of elder financial abuse so that you can put a stop to it. You cannot rely on your loved one to tell you what’s going, even if he or she knows.

Signs of elder financial abuse include:

  • Unexplainable withdrawals from financial accounts
  • Credit and debit cards are missing
  • Unexplainable charges on bank or credit card statements
  • Checks for your loved one have been cashed yet the funds are missing
  • There are new or additional names added to credit cards, bank accounts or assets
  • Forged signatures or fraudulently-signed checks or contracts
  • Checks have been made out directly to a caregiver or financial professional
  • Changes to power of attorney, wills or financial documents that are unexpected
  • Being charged for name-brand medication even though the resident is given generic drugs
  • Medical devices and mobility equipment that have been paid for are not in your loved one’s possession
  • Your loved one is missing his or her belongings
  • Your loved one is living below his or her financial means
  • Your loved one will not or is reluctant to talk about financial problems when he or she was forthcoming with financial information in the past

Contact a Nursing Home Abuse Lawyer for Help

If you suspect your loved one is the victim of nursing home financial abuse, contact an attorney right away for help. Your attorney will look into the situation to determine if abuse is occurring and who is responsible for it. Your attorney will work to protect your loved one’s funds and assets while holding his or her abuser accountable. The Silver Spring personal injury lawyers at Goldberg Finnegan can review your case in a free legal consultation. We take cases on a contingency fee basis, so you only owe legal fees and expenses if we successfully recover compensation in your case.