The National Center on Elder Abuse (NCEA)¹ reports that approximately 2,150,000 elderly people in the United States suffer some form of abuse on an annual basis and many more cases are suspected to go unreported or undiscovered. Elder abuse can come in many forms, including physical or emotional abuse, neglect, or financial exploitation. Though financial exploitation may not seem as serious to some as physical or emotional trauma, financial abuse is extremely offensive and can often financially ruin a vulnerable elderly adult by draining their hard-earned savings and estate. If you believe your loved one has been the victim of financial elder abuse, the experienced attorneys at the Dickson Frohlich Phillips Burgess in Seattle and Tacoma can help you protect your loved one’s rights and hold their abuser accountable.

Identifying financial elder abuse

The NCEA reports that over 12 percent of all elder abuse cases are financial in nature. Sadly, this type of abuse is usually committed by a family member, caretaker, or another individual who has access to the elderly adult’s money, bank accounts, or other assets. Abusers may intentionally mismanage the victim’s assets, write checks to themselves, or brazenly steal cash or assets in other ways.

You should always know the signs of financial elder abuse, which may include the following:

• Your loved one has detected unusual withdrawals or transactions they do not remember authorizing.
• Bills are unpaid even though a caretaker was supposed to pay them.
• Your loved one lacks appropriate new clothes, grooming items, or medical supplies even though their caretaker was supposed to purchase them.
• Your loved one reports that someone asked them for a loan and requested it be kept a secret, which is often a sign they do not intend to repay the loan.
• Changes appear in their power of attorney or will that they did not make.

Obtaining justice for financial abuse

If you suspect financial elder abuse is occurring, you should always assist your loved one in seeking legal redress for their financial losses. At the Dickson Frohlich Phillips Burgess, we are committed to holding financial abusers accountable for their actions and securing justice for victims.

¹http://www.ncea.aoa.gov/