Prevent Elder Financial Abuse

Elders deserve financial safety.Elder financial exploitation—commonly linked with other forms of abuse and neglect—threatens the health, dignity, and economic security of millions of older Americans.  Click HERE for your free Financial Abuse Prevention Checklist. By becoming educated about the ways in which elders are taken advantage of, and ways to help prevent this kind of abuse, we can all help to ensure the continued health and well-being of our elders.
Financial exploitation is a fast-growing form of abuse of seniors and adults with disabilities. Situations of financial exploitation commonly involve trusted persons in the life of the vulnerable adult, such as:

  • Caretakers
  • Family members
  • Neighbors
  • Friends and acquaintances
  • Attorneys
  • Bank employees
  • Pastor
  • Doctors or nurses

Source: http://www.napsa-now.org/policy-advocacy/world-elder-abuse-awareness-day/

 

Why are the elderly attractive targets?

  • Persons over the age of 50 control over 70% of the nation’s wealth
  • The elderly are likely to have disabilities that make them dependent on others for help. These “helpers” may have access to homes and assets, and may exercise significant influence over the older person
  • They may have predictable patterns (e.g. because older people are likely to receive monthly checks, abusers can predict when an older people will have money on hand or need to go to the bank)
  • Severely impaired individuals are also less likely to take action against their abusers as a result of illness or embarrassment
  • Advances in technology have made managing finances more complicated

Source: http://www.preventelderabuse.org/elderabuse/fin_abuse.html

 

Local Resources:

10398983_1158921262998_3885515_nWexford County Council on Aging: http://www.wexfordcoa.org/

Osceola County Council on Aging: http://www.osceolagenerations.org/

Missaukee County Commission on Aging: http://www.missaukee.org/departments/council_on_aging/index.html