Elder Law and Estate Planning
Serving the New York Metropolitan Area

Financial Abuse

Financial abuse of seniors is on the rise and is a growing problem.

As a result of certain aging impairments including mental or physical (such as cognitive, hearing, and/or sight) many seniors are susceptible to fraud and schemes.

Financial elder abuse occurs when a person cheats the senior out of their money or their property. This can happen by people the senior knows, such as family members, caregivers or complete strangers. Seniors can be victimized by email or telephone or be talked into investments that are inappropriate by a family member, friend, or their broker.

Some of the signs of financial abuse are: (1) the senior’s living conditions are well below his or her financial resources; (2) unusual or inappropriate bank account activity is reported; (3) Frequent checks for cash are written to a caregiver or financial professional; (4) Bills go unpaid or are overdue when someone is supposed to be paying them; (5) The elderly person transfers title of his or her home or other assets for no apparent reason; (6) Large, frequent gifts are made to a caregiver; (7) The person is reluctant to talk about once-routine topics; (7) Personal belongings are missing; (8) Attempts are made by a caregiver, friend, or relative to isolate the person from others; (9) Changes are made in a will when the person appears to be incapacitated; (10) The older person takes out large, unexplained loans; (11) A live-in caregiver refuses to leave or is evasive about financial arrangements.

Often seniors are too embarrassed to tell anyone when they have been taken advantage of or defrauded. They can be worried about losing their independence or being diagnosed with dementia. This makes them key targets for scammers and corrupt brokers.

What You Can Expect

The Keller Legal Group represents seniors that have suffered financial exploitation and can help stop and/or reduce the likelihood of financial abuse happening in the first place. Additionally for those people that don’t have a trusted person to assist and review financial activities, the firm offers a bill paying and money management program.

Please contact our law office today to schedule an appointment.